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.