How Did the Market React to Schlumberger's (SLB) Acquisition of Stimline Digital?

Schlumberger Limited (NYSE:SLB) is one of the 10 Best Affordable Stocks Under $50 to Buy. On August 1, Schlumberger Limited (NYSE:SLB) reported that it has acquired Stimline Digital AS, a leading cloud-based software company for the energy sector that focuses on well intervention.

Stimline Digital’s IDEX platform offers operators a strong visualization tool and collaborative environment to improve the planning and carrying out of well interventions and operations. The platform uses AI to help operators efficiently standardize digital workflows through all steps of interventions. These steps include planning, real-time execution, and post-job analysis.

Schlumberger Limited (NYSE:SLB) acquired complete ownership of Stimline Digital AS, including all business operations and rights to the IDEX platform and other intellectual property.

The IDEX platform will be integrated with Schlumberger Limited’s (NYSE:SLB) data systems and advanced applications for intervention planning and modeling. This will help operators build smart, data-driven workflows that increase consistency, efficiency, and performance in well interventions.

Besides its use in well interventions, the IDEX platform will also offer strong procedural adherence solutions for drilling, completions, and plugging and abandoning wells.

Since the company shared this news on August 1, Schlumberger Limited’s (NYSE:SLB) stock price has gone up by 7.87% as of August 25.

Schlumberger Limited (NYSE:SLB) is a global oilfield services company that offers technology, information solutions, and integrated project management services that improve reservoir performance.

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Disclosure: None. This article is originally published at Insider Monkey.