Global energy technology company SLB (NYSE: SLB) saw its shares move lower Monday, as the company has been awarded a major drilling contract by Australian independent Woodside Energy (NYSE: WDS) for its ultra-deepwater Trion development project, offshore Mexico.
SLB will oversee the delivery of 18 ultra-deepwater wells using an integrated services approach and AI-enabled drilling capabilities to improve operational efficiency and well quality. The full scope of the contract includes digital directional drilling services and hardware, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services.
“With water depths of up to 2,500 meters, the Trion development presents challenging technical conditions for drilling and well construction,” said Wallace Pescarini, president, Offshore Atlantic, SLB. “SLB has extensive expertise in ultra-deepwater drilling projects globally and advanced technologies, including AI and digitally enabled hardware, to bring these wells online safely, efficiently and reliably. We will also leverage the strategic investments we’ve made in local talent and supply chains in Mexico, which will help support the on-time delivery of this project.”
Services will begin in early 2026 and be managed through SLB’s Performance Live™ digital service delivery centers. This contract follows another major contract from Woodside for the Trion development to the SLB OneSubsea™ joint venture in 2023, which includes subsea horizontal trees, controls and topside equipment. Manufacturing is currently on track.
SLB shares gave up 41 cents, or 1%, to $41.47, while those for WDS swooned 60 cents, or 4%, to $14.32.
