SLB (NYSE: SLB) announced it expects lower first quarter revenue and additional costs due to operational disruptions in the Middle East, impacting earnings by approximately 6-9 cents per diluted share.

The oilfield services company has suspended travel to and through the Middle East region and begun demobilizing operations in several countries following customer actions to protect personnel and facilities. SLB activated local and regional crisis response teams that meet daily to monitor the situation.

The company stated these measures will continue until the regional environment stabilizes. SLB is coordinating with local authorities and customers to assess conditions and plans a phased resumption of full operations when circumstances permit.

Given the evolving nature of the situation, SLB noted that the financial impact could change as developments unfold. The company emphasized that employee safety and security remains its top priority during the crisis.

SLB expressed confidence in the resilience of its global business operations, including those in the Middle East. The company cited its experience managing geopolitical challenges throughout its 100-year history while maintaining service to its international customer base.

The Houston-based technology company provides services across oil and gas exploration, digital solutions, and energy transition technologies in more than 100 countries worldwide.