New York, Feb 12, 2026, 18:34 (EST) — Trading after the bell.
- SLB slipped 1.8% to $50.64 at the close, with shares barely budging in after-hours trading.
- The oilfield-services firm reported landing several offshore drilling contracts tied to a deepwater gas project in Indonesia.
- Oil dropped close to 3%—the IEA trimmed its demand outlook, handing the sector another setback.
SLB dropped 1.8% to finish at $50.64 on Thursday, slipping 2.6% from Wednesday’s 52-week high of $51.99. Around 23.7 million shares changed hands, topping the 50-day average, while the S&P 500 lost 1.57%. Halliburton and NOV each fell more than 2%. Baker Hughes, on the other hand, managed a slight uptick. 1
SLB shares slipped, despite the company announcing that Mubadala Energy handed it several offshore drilling services contracts for the Tangkulo deepwater gas project in Indonesia’s Andaman Sea. “This contract award reflects Mubadala Energy’s strategic vision to develop Indonesia’s offshore resources responsibly and efficiently,” said Abdulla Bu Ali, president director of Mubadala Energy Indonesia. SLB Asia president Sherif Shohdy called deepwater work “disciplined execution and integrated delivery.” SLB expects “first gas,” or initial production, before 2028 wraps up. Financial terms weren’t released. 2
Macro pressures weighed. Brent crude slid 2.71% to finish at $67.52 a barrel, while U.S. WTI dropped 2.77%, settling at $62.84. The International Energy Agency trimmed its demand growth forecast for 2026 and highlighted a hefty surplus. “The fact that President Trump continues to negotiate with Iran would lead to a reduction of geopolitical risk,” Lipow Oil Associates president Andrew Lipow said. 3
SLB shares hovered near $50.62 after the bell, off just 2 cents from the regular session’s finish. 4
SLB highlighted its tech momentum on Wednesday, noting it climbed 10 places to No. 77 on the 2026 Patent 300 list of leading U.S. patent holders—up from its 2025 ranking—after landing 590 new U.S. patents in the past year. 5
Johnson Rice bumped up its price target on SLB, taking it to $59 from $45, while sticking with an “Accumulate” rating, according to MT Newswires. 6
Timing is the wildcard for investors here. Offshore projects have a way of dragging on, and a sagging oil tape can pull the rug from under spending plans quickly—if that demand downgrade sticks, producers may start hitting pause on fresh work.
Traders now eye potential updates tied to the Indonesia awards, along with any fresh commentary expected from management at the DEP Thrive Conference in Houston on Feb. 25. 7
