Schlumberger Announces Senior Notes Redemption

Schlumberger Limited (“Schlumberger”) today announced that Schlumberger Holdings Corporation, an indirect wholly-owned subsidiary of Schlumberger (“SHC”), will redeem the entire outstanding principal amount of its 3.000% Senior Notes due 2020 (the “2020 Notes”), and that Cameron International Corporation, an indirect wholly-owned subsidiary of Schlumberger (“Cameron”), will redeem the entire outstanding principal amount of its 4.50% Senior Notes due 2021 (the “2021 Notes”) and the entire outstanding principal amount of its 3.60% Senior Notes due 2022 (the “2022 Notes” and, collectively with the 2020 Notes and the 2021 Notes, the “Notes”). The redemption date for each series of Notes is November 21, 2019 (the “Redemption Date”).

The aggregate principal amount of the 2020 Notes outstanding is $416,044,000, the aggregate principal amount of the 2021 Notes outstanding is $126,193,000 and the aggregate principal amount of the 2022 Notes outstanding is $105,779,000. The Notes will be redeemed on the Redemption Date at a redemption price for each series of Notes equal to (a) 100% of the aggregate principal amount being redeemed, plus (b) accrued and unpaid on such Notes from the last interest payment date to, but excluding, the Redemption Date, plus (c) a make-whole premium to be calculated three business days prior to the Redemption Date in accordance with the terms of the applicable series of Notes and the applicable indenture governing such series of Notes. On and after the Redemption Date, interest will cease to accrue on the Notes and the Notes will cease to be outstanding.

Notices of redemption are being sent by the applicable trustee for each series of Notes to all currently registered holders of such series of Notes.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws — that is, statements about the future, not about past, events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “see,” “likely” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements regarding the terms and timing of the redemption of each series of Notes. Neither Schlumberger, SHC nor Cameron can give any assurance that such statements will prove correct. These statements are subject to, among other things, the risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. Actual outcomes may vary materially from those reflected in Schlumberger’s forward-looking statements. The forward-looking statements speak only as of the date made, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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Contact information

Simon Farrant – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited

Office +1 (713) 375-3535
investor-relations@slb.com