8-KOther EventsExhibits & Filings

SLB LIMITED/NV 8-K Report, Corporate Update (Nov 24, 2020)

Filed November 24, 2020For Securities:SLB

Summary

SLB Limited/NV (SLB) announced a significant organizational restructuring designed to align with evolving industry demands and enhance customer collaboration. This strategic move consolidates its technologies into four new operating Divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. This new structure is effective starting in the fourth quarter of 2020 and will form the basis for the company's future segment reporting. In conjunction with this restructuring, SLB has provided unaudited historical consolidated financial information reflecting the new reporting structure, along with supplemental geographical financial data. This information, filed as an exhibit, is intended to offer investors a clearer perspective on historical performance under the new divisional framework. Investors are advised to review this information alongside SLB's existing SEC filings.

Key Highlights

  • 1SLB has reorganized into four new operating Divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.
  • 2The new structure is designed to align with customer workflows and enhance technological integration.
  • 3This organizational change will serve as the basis for SLB's segment reporting starting in the fourth quarter of 2020.
  • 4The company has provided unaudited historical consolidated financial information under the new reporting structure.
  • 5Supplemental unaudited financial information on a geographical basis has also been furnished.
  • 6This filing should be read in conjunction with SLB's prior 10-K and 10-Q filings for a comprehensive understanding.

Frequently Asked Questions

SLB has restructured to prepare for a new industry future, align with customer workflows, and directly support its corporate strategy which emphasizes customer collaboration. The goal is to enhance its portfolio of capabilities for emerging long-term growth opportunities.

The four new Divisions are Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.

The new Divisions will form the basis of Schlumberger's segment reporting commencing in the fourth quarter of 2020.

SLB has provided unaudited historical consolidated financial information on the basis of the new reporting structure, as well as supplemental unaudited financial information on a geographical basis.