SLB
Company History
SLB History: Founding, Growth & Key Milestones
Founded 1926 in Paris, France
When was SLB founded?
SLB was founded in 1926 in Paris, France by Conrad Schlumberger and Marcel Schlumberger, making it 100 years old.
- Founded
- 1926
- Founding place
- Paris, France
- Founders
- Conrad Schlumberger and Marcel Schlumberger
- Headquarters today
- Houston, Texas
- Milestones documented
- 11 (1926–2026)
- Current CEO
- Olivier Le Peuch
- Acquisitions
- 5
| Year | Event |
|---|---|
| 1926 | Founding in Paris |
| 1927 | First Wireline Log |
| 1940 | Relocation to the United States |
| 1962 | Introduction of Nuclear Logging |
| 2010 | Smith International Acquired |
| 2011 | Paal Kibsgaard becomes CEO |
| 2016 | Acquisition of Cameron International |
| 2019 | Olivier Le Peuch becomes CEO |
| 2022 | Corporate Rebranding to SLB |
| 2024 | ChampionX Acquisition Agreement |
| 2026 | SLB reports FY2025 results and Q1 2026 update |
- Where was SLB founded?
- SLB was founded in Paris, France in 1926.
- Who founded SLB?
- SLB was founded by Conrad Schlumberger and Marcel Schlumberger.
- When did SLB start?
- SLB was founded in 1926.
- How old is SLB?
- SLB is 100 years old as of 2026.
Founding Story
In the 1920s finding oil depended largely on luck. Two French brothers, Conrad and Marcel Schlumberger, worked from the fact that different rocks conduct electricity differently. They built a device that was lowered into a borehole on a wire to measure the electrical resistance of the rock, which showed where oil was likely to be. Their method turned exploration into a measurable science and became the basis of the company.
Founders
Conrad Schlumberger
Conrad Schlumberger founded the company in 1926 alongside his brother Marcel. He was a brilliant French physicist who invented a revolutionary technique for mapping underground rock formations using electrical resistance. This absolute breakthrough completely changed the global oil industry, allowing prospectors to precisely 'see' underground before drilling highly expensive dry wells. Conrad Schlumberger was born in 1878.
Marcel Schlumberger
Marcel Schlumberger was an engineer and businessman who partnered with his brother Conrad to commercialize their influential wireline logging technology. While Conrad focused on the physics and sensor development, Marcel managed the complex logistics, international partnerships, and commercial strategy required to sell their services to the world's major oil companies. Following Conrad's death in 1936, Marcel assumed sole leadership of the company, handling the treacherous geopolitical landscape of pre-war Europe. When Germany invaded France in 1940, Marcel made the critical decision to flee to the United States, carrying the company's proprietary schematics and core engineering team. He established Schlumberger Well Surveys in Houston, Texas, forging vital relationships with the US military and the domestic oil industry. Marcel's strategic foresight in relocating the company's intellectual capital to the US not only ensured the company's survival during the war but positioned SLB to dominate the post-war boom in Middle Eastern and global oil exploration, cementing his legacy as the architect of the company's global footprint. Marcel Schlumberger was born in 1884.
Key Milestones
Founding in Paris
Conrad and Marcel Schlumberger establish the Société de Prospection Électrique, applying electrical resistivity mapping to subsurface oil exploration.
Source: en.wikipedia.orgFirst Wireline Log
The company executes the first wireline electrical resistivity measurement in Pechelbronn, France, inventing the science of well logging and transforming global oil exploration.
Source: en.wikipedia.orgRelocation to the United States
Following the invasion of France, Marcel Schlumberger relocates the company's core intellectual property and engineering team to Houston, Texas, establishing Schlumberger Well Surveys.
Source: en.wikipedia.orgIntroduction of Nuclear Logging
SLB deploys the first commercial nuclear magnetic resonance and gamma-ray logging tools, improving the accuracy of porosity and lithology measurements in complex formations.
Source: en.wikipedia.orgSmith International Acquired
Schlumberger bought Smith International in 2010 for about $11 billion.
Source: en.wikipedia.orgPaal Kibsgaard becomes CEO
Paal Kibsgaard became CEO of SLB in 2011. Norwegian petroleum engineer who led Schlumberger before Olivier Le Peuch.
Source: en.wikipedia.orgAcquisition of Cameron International
SLB completes the $14.8 billion acquisition of Cameron International, instantly establishing a dominant position in subsea production systems, surface wellheads, and measurement control equipment.
Source: en.wikipedia.orgOlivier Le Peuch becomes CEO
Olivier Le Peuch became CEO of SLB in 2019.
Source: investorcenter.slb.comCorporate Rebranding to SLB
The company officially rebrands from Schlumberger to SLB to reflect its evolution into a broad-spectrum energy technology company focused on digitalization and the energy transition.
Source: en.wikipedia.orgChampionX Acquisition Agreement
SLB announces a $7.7 billion agreement to acquire ChampionX, consolidating its leadership in production chemicals, artificial lift, and digital production optimization.
Source: en.wikipedia.orgSLB reports FY2025 results and Q1 2026 update
SLB reported FY2025 revenue of $35.708B and Q1 2026 revenue of $8.721B, keeping the focus on resilient international and technology-led energy services.
Source: sec.govMajor Acquisitions
Cameron International
2016Bought Cameron International to add subsea, surface, drilling and processing equipment to SLB's service portfolio.
Smith International
2010Bought Smith International to add drill bits, drilling tools and drilling fluids (M-I SWACO).
ChampionX
2025Acquired ChampionX in an all-stock deal announced in April 2024 to add production chemicals and artificial lift.
Kelvion
2026Agreed on August 31, 2026 to acquire 100% of Kelvion, a German heat-exchange and data center cooling maker, from Apollo and Triton funds.
WesternGeco (remaining stake)
2006Bought Baker Hughes' 30% stake in the WesternGeco seismic venture to take full ownership.
Keep researching SLB
SLB Company History FAQ
When and where was SLB originally founded?
SLB was founded in 1926 in Paris, France, as Société de Prospection Électrique by French brothers Conrad Schlumberger and Marcel Schlumberger.
What was the revolutionary invention made by the Schlumberger brothers in 1927?
On September 5, 1927, in an oilfield in Pechelbronn, Alsace, France, the brothers lowered an electric probe down a borehole to record the electrical resistivity of rock formations, executing the world's first "wireline electrical log" and turning oil exploration into a measurable science.
How did wireline logging transform the global petroleum industry?
Before wireline logging, wildcatters drilled blindly, frequently missing productive oil and gas reservoirs. Electrical logs provided an exact subsurface profile showing rock porosity, fluid saturation, and hydrocarbon presence without retrieving rock cores.
Who was Jean Riboud and what was his impact on Schlumberger?
Jean Riboud served as CEO from 1965 to 1985. A charismatic French intellectual, decorated Resistance hero, and visionary business leader, Riboud built Schlumberger into an elite global technology powerhouse with a decentralized culture that hired top engineering talent worldwide.
Why was Schlumberger legally incorporated in the Netherlands Antilles?
In 1956, the company incorporated Schlumberger Limited in Curaçao (Netherlands Antilles), establishing a neutral, global holding structure to manage multinational operations across dozens of jurisdictions while optimizing global corporate taxation.
What was the landmark acquisition of Smith International in 2010?
In August 2010, Schlumberger acquired oilfield drilling equipment supplier Smith International for $11.3 billion, securing leading drill bit technology and full ownership of M-I SWACO, the world's largest drilling fluids company.
What was the $14.8 billion acquisition of Cameron International in 2016?
In April 2016, Schlumberger acquired subsea equipment and valve manufacturer Cameron International for $14.8 billion, creating the industry's first complete pore-to-pipeline drilling and production equipment portfolio.
Why did the company rebrand from Schlumberger to SLB in October 2022?
Under CEO Olivier Le Peuch, the company rebranded to "SLB" to signal its strategic transformation beyond legacy fossil oilfield services into a broad energy technology company focused on digital cloud software, decarbonization, geothermal, and industrial cooling.
What was the ChampionX acquisition in 2024-2025?
In April 2024, SLB agreed to acquire production chemicals and artificial lift specialist ChampionX in an all-stock deal valued at $7.7 billion, closing in July 2025 to create the undisputed global leader in production chemistry and artificial lift systems.
What was the OneSubsea joint venture established in 2023?
In October 2023, SLB closed a joint venture with Aker Solutions and Subsea 7 to combine their subsea businesses into OneSubsea, creating a global offshore subsea production titan owned 70% by SLB.
When did SLB enter the data center infrastructure market with Kelvion?
In August 2026, SLB announced a $4.1 billion acquisition of European thermal management and industrial heat exchanger leader Kelvion, leveraging its subsurface thermodynamics engineering to cool power-hungry AI hyperscale data centers.
Who is the current Chief Executive Officer of SLB?
Olivier Le Peuch has served as Chief Executive Officer of SLB since August 2019, having joined the company as an electrical engineer in 1987.
Related Strategic History
Compare founding milestones and corporate evolution
Explore SLB
Core profile pages, founders and related research hubs for this company.