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Schlumberger to sell drillpipe assets in $400M deal

May 15, 2019 9:27 AM ETSchlumberger Limited (SLB) StockSLBBy: Carl Surran, SA News Editor20 Comments
  • Schlumberger (NYSE:SLB) agrees to sell non-core drilling assets to P-E backed Wellbore Integrity Solutions for ~$400M.
  • SLB says the sale of its DRILCO, Thomas Tools and Fishing and Remedial services businesses will enable it to focus on its core drilling strategy, including the development of automation technologies that can be enhanced by digital enablement.
  • The sale includes drilling tubulars services; tubing work strings, rentals and accessories; and fishing and remedial services for drilling, intervention and abandonment activities for the oilfield services industry.

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