Schlumberger Introduces Business to Lower Methane and Routine Flare Emissions

Oilfield service giant Schlumberger (SLB) has launched Schlumberger End-to-end Emissions Solutions (SEES), a business dedicated to reducing the methane and routine flare emissions from oil and gas operations. These emissions are responsible for 60% of the greenhouse gas emissions from the industry.

The new business will provide operators with a solution for measuring, monitoring, reporting and ultimately eliminating methane and routine flare emissions. With SEES, operators will be able to develop a methane emissions elimination strategy.

At first, Schlumberger enables the screening of a wide array of measurement and abatement solutions to identify the most cost-effective technology mix for operators’ specific assets.

Next, the operators get access to third-party and in-house solutions that are curated after evaluating about 97 methane measurement technologies.

Finally, SEES finds emissions and then takes remedial action to eliminate them through its end-to-end offering.

Schlumberger’s Emissions Business Director, Kahina Abdeli-Galinier, said, “To benefit the industry, SEES aspires to become the trusted partner for operators looking to reduce their emissions footprint quickly, credibly, and in the right way. To benefit the planet, our objective is to work with our customers to eliminate 1% of all anthropogenic GHG emissions by 2030.”

“We have created SEES specifically to help our customers deal with one of the most pressing issues of climate change: the urgent need to cut methane emissions. Due to its potency as a GHG and its major share of the industry’s overall operational emissions, tackling methane emissions will make a significant impact,” said, Schlumberger’s Chief Technology Officer Demos Pafitis.

Stock Rating

Last month, Argus Research analyst Bill Selesky maintained a Buy rating on Schlumberger and raised the price target to $45 from $38. The new price target implies 0.2% downside potential from current levels.

Consensus among analysts is a Strong Buy based on 15 unanimous Buys. The average Schlumberger price target stands at $44 and implies downside potential of 2.4% to current levels.

News Sentiment

News Sentiment for Schlumberger is Very Positive based on 29 articles over the past seven days. All the articles have Bullish sentiment, compared to a sector average of 63%, and none have Bearish Sentiment, compared to a sector average of 37%.

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