{"id":72175,"date":"2026-09-24T08:38:13","date_gmt":"2026-09-24T12:38:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/slb-secures-major-aramco-contracts-as-us-housing-data-sees-revisions\/72175\/"},"modified":"2026-09-24T08:38:13","modified_gmt":"2026-09-24T12:38:13","slug":"slb-secures-major-aramco-contracts-as-us-housing-data-sees-revisions","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/slb-secures-major-aramco-contracts-as-us-housing-data-sees-revisions\/72175\/","title":{"rendered":"SLB Secures Major Aramco Contracts as US Housing Data Sees Revisions"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SLB (<a href=\"\/stock\/SLB\">SLB<\/a>)<\/strong> was awarded four integrated well construction contracts by <strong>Aramco<\/strong>, targeting the delivery of over <strong>450 wells<\/strong> in Saudi Arabia over a three-year period.<\/li>\n<li>The <strong>U.S. International Trade Commission (ITC)<\/strong> launched an investigation into <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a> Technology (<a href=\"\/stock\/MU\">MU<\/a>)<\/strong> and others following patent infringement claims by <strong>Netlist (<a href=\"\/stock\/NLST\">NLST<\/a>)<\/strong>.<\/li>\n<li><strong>US Building Permits<\/strong> for August were revised upward to a seasonally adjusted annual rate of <strong>1.403 million<\/strong>, though the monthly decline was adjusted to <strong>-2.1%<\/strong>.<\/li>\n<li><strong>Mexico\u2019s Economic Activity (IGAE)<\/strong> for July surged <strong>3.36% year-over-year<\/strong>, significantly outperforming analyst estimates of 2.50%.<\/li>\n<\/ul>\n<h2>SLB Expands Saudi Footprint with Massive Aramco Deal<\/h2>\n<p>Energy technology giant <strong>SLB (<a href=\"\/stock\/SLB\">SLB<\/a>)<\/strong> has solidified its partnership with <strong>Aramco<\/strong> through the acquisition of four major integrated well construction contracts. The agreement spans three years with a potential two-year extension, tasking <strong>SLB<\/strong> with the end-to-end delivery of more than <strong>450 wells<\/strong> across Saudi Arabia&#39;s oil and gas reservoirs.<\/p>\n<p>The contracts highlight a growing industry shift toward integrated delivery models that combine digital workflows with automated drilling systems. <em>Analysts view this as a significant expansion of SLB&#39;s high-margin services business in the Middle East<\/em>, as the company leverages its technical expertise to set new performance benchmarks for the world&#39;s largest oil producer.<\/p>\n<h2>Micron Faces ITC Scrutiny Over Memory Patents<\/h2>\n<p>The <strong>U.S. International Trade Commission (ITC)<\/strong> has officially instituted an investigation into <strong>Micron Technology (<a href=\"\/stock\/MU\">MU<\/a>)<\/strong>, <strong>Supermicro (<a href=\"\/stock\/SMCI\">SMCI<\/a>)<\/strong>, <strong>HPE (<a href=\"\/stock\/HPE\">HPE<\/a>)<\/strong>, and <strong>Lenovo<\/strong> based on a complaint from <strong>Netlist (<a href=\"\/stock\/NLST\">NLST<\/a>)<\/strong>. The probe, designated as ITC Inv. No. 337-TA-1523, will determine if <strong>Micron\u2019s<\/strong> DDR5 RDIMM and MRDIMM products infringe on four specific <strong>Netlist<\/strong> patents.<\/p>\n<p><strong>Netlist<\/strong> is seeking exclusion and cease-and-desist orders that could potentially block the importation of the accused memory products into the United States. <em>This legal escalation follows a major settlement between Netlist and Samsung<\/em>, signaling a more aggressive intellectual property enforcement strategy by the memory innovator.<\/p>\n<h2>US Housing Market Shows Resilience Amid Revisions<\/h2>\n<p>The <strong>U.S. Census Bureau<\/strong> released revised figures for August building permits, showing a seasonally adjusted annual rate of <strong>1.403 million<\/strong> units. While this represents a <strong>2.1% decline<\/strong> from July, it is an improvement over the preliminary estimate of a 2.7% drop (1.394 million units).<\/p>\n<p>Despite the monthly cooling, permits remained <strong>3.5% higher<\/strong> than the August 2025 rate, suggesting that underlying demand for new construction persists despite elevated borrowing costs. <em>The data indicates a bifurcated market where single-family construction remains steady while multi-family projects face sharper headwinds.<\/em><\/p>\n<h2>Mexico\u2019s Economy Surprises with Robust July Growth<\/h2>\n<p>Mexico\u2019s <strong>Global Indicator of Economic Activity (IGAE)<\/strong> reported a strong <strong>3.36% year-over-year<\/strong> increase for July, comfortably beating the consensus estimate of <strong>2.50%<\/strong>. On a month-over-month basis, economic activity grew by <strong>0.76%<\/strong>, a sharp reversal from the revised <strong>-0.04%<\/strong> seen in June.<\/p>\n<p>The data suggests that the Mexican economy is regaining momentum, driven by strength in the services and trade sectors. <em>This performance provides a positive backdrop for the Bank of Mexico&#39;s upcoming policy decisions<\/em>, as the country navigates a complex inflationary environment and shifting trade dynamics with the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SLB (SLB) was awarded four integrated well construction contracts by Aramco, targeting the delivery of over 450 wells 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