|Bid||30.51 x 1800|
|Ask||30.52 x 800|
|Day's Range||29.62 - 30.60|
|52 Week Range||13.70 - 30.60|
|Beta (5Y Monthly)||2.42|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 22, 2021 - Jul. 26, 2021|
|Forward Dividend & Yield||0.50 (1.65%)|
|Ex-Dividend Date||Jun. 01, 2021|
|1y Target Est||30.37|
(Bloomberg) -- Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.The firm, also owned by Saudi Arabia’s Industrialization & Energy Services Company, known as Taqa, has asked banks to pitch for a role on the potential share sale, the people said, asking not to be identified as the information is private.Arabian Drilling may complete a deal on Riyadh’s stock exchange before the end of the year, they said. No decisions have been finalized and the owners may decide against an IPO, the people said.The company was founded in 1964 and counts Saudi Aramco, the kingdom’s state energy producer, among its main customers. Taqa owns 51% and Schlumberger the rest.Arabian Drilling didn’t respond to requests to comment.Hot MarketThe discussions about a deal come as Aramco and other national oil firms in the Middle East step up plans to raise billions of dollars from foreign investors, including through asset sales and IPOs. Abu Dhabi National Oil Co. is considering a listing of its drilling business, which could raise more than $1 billion.Riyadh has been the busiest IPO market in the Middle East over the past two years. That trend looks set to continue with a fresh wave of offerings planned, thanks in part to the country’s economic recovery following last year’s coronavirus lockdowns and crash in oil prices.Saudi Basic Industries Corp. is aiming to list its specialty chemicals business, and Saudi Telecom Co. may sell a stake in its internet-services unit. The company running the stock exchange, Saudi Tadawul Group, is also planning an IPO later this year.(Updates with company ownership)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Energy companies Schlumberger (SLB), Halliburton (HAL), Baker Hughes (BKR), Kinder Morgan (KMI) and Valero Energy (VLO) reported March-quarter earnings, wherein each outperformed the Zacks Consensus Estimate.
(Reuters) -Top oilfield services firm Schlumberger NV on Monday named new executives to energy transition units, according to a memo seen by Reuters, a move that signals its growing commitment to lower carbon businesses. Sebastian Pages, formerly in the Well Construction group, was appointed as New Energy finance director. Kahina Abdeli-Galinier, previously the marketing director for Digital & Integration, was named Emissions Business Director to "build and manage a new business to methane emissions for oil and gas operations of our customers," the memo said.