Schlumberger Briefs Results of Tender Offer

Schlumberger has purchased approximately 35.63% of the outstanding aggregate principal amount of its 6.50% Notes due 2012, which are all of the Notes that were tendered prior to 5:00 p.m., New York City time, on September 28, 2010 pursuant to its previously announced tender offer.

According to the information provided by Global Bondholder Services Corporation, the Depositary for the Tender Offer, $231,338,000 in aggregate principal amount of the Notes was validly tendered and not validly withdrawn prior to the Expiration Date. After giving effect to the purchases, $417,907,000 in principal amount of the Notes remains outstanding.

Holders of tendered Notes that were purchased by the Company received a purchase price equal to $1,091.39 for each $1,000 principal amount of such Notes. The Purchase Price was determined by reference to the fixed spread over the yield based on the bid-side price of the U.S. Treasury Security, as calculated by the dealer managers at 2:00 p.m., New York City time, on September 28, 2010. The formula used to determine the Purchase Price is set forth in Schedule A of the Offer to Purchase.


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