Schlumberger Limited Announces Agreement With National-Oilwell Varco, Inc. To Sell Wilson International Inc.

Schlumberger Limited announced that it has entered into an agreement with National-Oilwell Varco, Inc. to sell its Wilson distribution business. Schlumberger acquired Wilson International Inc. as part of the acquisition of Smith International in 2010. Closing of the transaction is subject to customary regulatory approvals. The Company manages a distribution business of approximately 200 sales and operations locations across the United States with a growing presence in other key international geographies. Financial terms and conditons were not disclosed.