SLB Diversifies Revenue Through Production Growth and Data Center Cooling Technology
During its third-quarter 2026 earnings call, SLB reported sequential revenue growth across all core operating divisions. The company is successfully pivoting its portfolio toward production recovery and operational expenditure, with the production business now accounting for over 50% of its total business. This shift aims to provide more stable cash flows and revenue visibility regardless of commodity price cycles. Beyond traditional oilfield services, SLB is aggressively expanding into non-energy markets through its acquisition of Kelvion. The company expects data center cooling solutions revenue to surpass $1 billion, leveraging the thermal management needs of AI infrastructure. Additionally, significant growth is being driven by a rebound in Venezuela, where revenues are projected to more than double in 2026.
Tickers: $SLB
Topics: data center cooling emerging markets oilfield services production revenue