SLB N.V.

ExxonMobil has selected SLB's OneSubsea joint venture to supply subsea production systems for the first phase of its giant Rovuma LNG development in Mozambique, advancing one of Africa's largest planned energy projects toward a final investment decision. The contract covers subsea trees, manifolds, umbilicals and control systems, along with engineering, procurement, manufacturing and installation services, and OneSubsea plans to set up a service base in Mozambique to support local training, employment and regional supply chains. The award follows roughly $1.1 billion in pre-investment contracts ExxonMobil and its Area 4 partners granted in August for long-lead equipment and early construction, and the earlier selection this month of a Saipem-Jan De Nul consortium for upstream engineering, procurement, construction and installation work. The offshore development is expected to initially involve 18 subsea wells and an extensive network of pipelines and manifolds. Rovuma LNG's planned onshore facilities would consist of 12 liquefaction modules producing a combined 18.6 million tonnes of LNG annually, and ExxonMobil has said the project could ultimately support more than 40 million tonnes per year of LNG capacity.

SLB announced it has been awarded four integrated well construction contracts by Aramco to support oil and gas development across the Kingdom of Saudi Arabia. Under the three-year contracts, SLB will manage end-to-end well construction services and deliver more than 450 wells, with an optional extension of up to two years. The awards represent a significant expansion of SLB's integrated well construction business in the Kingdom and build on decades of collaboration between the two companies. SLB's integrated model combines digital drilling workflows with automated drilling, evaluation, fluids, cementing, and completions products and services. Steve Gassen, executive vice president of Geographies for SLB, said awarding these advanced well construction programs at scale reflects Aramco's confidence in the company's integrated model and capabilities.

SLB has been awarded a contract by Equinor to expand real-time leak detection, virtual flow metering and digital production monitoring across the Johan Sverdrup Phase 3 development in the North Sea, while Invictus Energy selected SLB for drilling and well services at the Musuma-1 exploration well in Zimbabwe. The two awards highlight growing adoption of SLB's digital and high-end drilling technologies across both mature offshore hubs and frontier onshore basins. SLB's investment narrative projects $42.2 billion in revenue and $5.6 billion in earnings by 2029, yielding a $61.39 fair value that implies 18% upside to its current price. Some analysts assume a tougher path, with revenue growing only about 2.6% a year to roughly US$39.3 billion and earnings to about US$4.9 billion. The company's expanded NVIDIA collaboration to build an AI Factory for Energy also underlines its push to scale higher margin digital workflows across production and reservoir management.

National Energy Services Reunited Corp. is participating in Middle East tenders totaling roughly $3-$4 billion, including several large multiyear opportunities, as it aims to accelerate its 3B3 strategy targeting a $3-billion revenue run rate within three years. Management said the contracts often run for five, seven or even nine years, supporting backlog growth and longer-term revenue visibility, and believes stronger contract wins can accelerate that timeline. NESR has maintained uninterrupted service through the ongoing Middle East conflict, which has disrupted energy activity across the region with project shutdowns in Iraq and LNG interruptions in Qatar, and its operating track record has qualified it to bid on larger contract lots previously dominated by bigger service providers. The company has emerged as the region's largest hydraulic-fracturing company while building scale across several production and completion service lines. Other providers stand to benefit from a recovery in Middle East energy spending, with SLB N.V. citing stronger customer engagement around well intervention, shut-in well recovery and infill drilling in markets such as the United Arab Emirates and Qatar, and Baker Hughes Company highlighting major awards for electric motor-driven compression trains tied to a large offshore Middle East field and Aramco's Uthmaniyah gas development. NESR shares have gained 198.8% over the past year compared with the industry's 66.5% growth, and the stock trades at a trailing 12-month EV/EBITDA of 10.33X versus the industry average of 9.09X.

SLB announced on August 31 that it will acquire Kelvion from Apollo Global and funds advised by Triton for around $3.4 billion in cash plus the assumption of approximately $0.7 billion of debt, a total of $4.3 billion. The deal aims to expand SLB's data center business and capitalize on AI-driven demand for power and cooling infrastructure. Kelvion, which specializes in thermal management and heat exchange, will more than double SLB's revenue opportunity per gigawatt of delivered capacity. SLB expects the transaction to be accretive to earnings and free cash flow per share within 12 months and to generate about $120 million in annual EBITDA synergies within three years. The company reaffirmed its target to return more than $4 billion to shareholders this fiscal year, with the deal expected to close in the first half of 2027.

The U.S. government's agreement with Venezuela, touted by President Trump as "the biggest oil deal in world history," grants American access to 65 billion barrels of proven Venezuelan reserves through 100-year concessions across 17 oilfields, brokered with North American Blue Energy Partners. The deal, which includes a 25-year cooperation framework, aims to more than double U.S. oil reserves and lower gasoline prices, while Chevron, ExxonMobil, ConocoPhillips, SLB, and Halliburton are positioned to benefit from an estimated $100 billion in infrastructure investment targeting 1.5 million barrels per day. For investors, energy ETFs like XLE, VDE, OIH, and IYE offer exposure to these beneficiaries, with year-to-date gains ranging from 42.2% to 50.7%.

SLB N.V. has signed an agreement to acquire Kelvion, a global provider of thermal management and heat-exchange technologies, for approximately $3.4 billion in cash and the assumption of about $0.7 billion of debt, aiming to accelerate the expansion of its Data Center Solutions business. Kelvion is expected to generate approximately $2.3-$2.4 billion in revenues and $350-$400 million in adjusted EBITDA in 2026, with data centers representing its largest and fastest-growing end market, projected at $1.2-$1.3 billion in revenues. The acquisition broadens SLB's addressable market, with management expecting its revenue opportunity per gigawatt of delivered data center capacity to more than double. On a pro forma basis, SLB and Kelvion together are expected to generate more than $2 billion in data center revenues and approximately $300 million in adjusted EBITDA in 2026, with SLB targeting revenues of $4.5-$5 billion and adjusted EBITDA of $700-$800 million by 2028. The transaction is valued at roughly 11 times estimated 2026 EBITDA before synergies and about 8.5 times after expected synergies, with management expecting it to be accretive to earnings per share and free cash flow per share within the first 12 months after closing, and targeting approximately $120 million in annual EBITDA synergies within three years. The deal is expected to close in the first half of 2027, subject to regulatory approvals, and SLB reaffirmed plans to return more than $4 billion to shareholders in 2026.

SLB, the world's largest oilfield services company, announced it will acquire Kelvion, a cooling equipment manufacturer, from funds managed by investment firm Triton and Apollo Global Management for $4.1 billion, including debt. Amid the AI boom driving growing demand for power and cooling infrastructure, the acquisition aims to strengthen its data center business. The deal is expected to close in the first half of 2027, with SLB paying $3.4 billion in cash and assuming approximately $700 million in debt. As drilling demand in North America slows, oilfield service companies are expanding into businesses such as power equipment, turbines, and data-related solutions. SLB says this acquisition will more than double its revenue opportunity per gigawatt of supply capacity. It also expects revenue from its data center solutions business, including Kelvion, to reach $4.5 billion to $5 billion by 2028, with adjusted EBITDA of $700 million to $800 million.

SLB, the global energy-technology heavyweight, surged about 3.4% to $59.30 Monday morning after announcing a $3.4 billion cash deal to acquire thermal-management specialist Kelvion, assuming roughly $700 million of debt. The acquisition values Kelvion at about 11 times estimated 2026 EBITDA before synergies and 8.5 times after them, with management expecting $120 million in annual EBITDA benefits within three years. SLB forecasts the combined data-center business to generate over $2 billion in revenue and about $300 million in adjusted EBITDA in 2026, aiming for $4.75 billion in revenue and $750 million in EBITDA by 2028. The stock trades 30.07% above its GF Value of $45.59, reflecting high investor expectations for execution.

Apollo Global Management has agreed to sell cooling solutions provider Kelvion to SLB and will provide a significant minority nonvoting equity investment to support ONEOK's planned acquisition of Brazos Midstream assets, marking a major portfolio reshaping. The Kelvion sale and ONEOK financing position Apollo across industrial cooling, data center related demand, and US energy midstream infrastructure, aligning with its focus on what it calls a global industrial renaissance. Apollo, a diversified financial firm with a market cap of $79.7 billion, is expanding its asset heavy, cash flow focused infrastructure exposure through these deals. The transactions also expose Apollo to policy, environmental, and commodity risks, as well as execution risk inherent in large complex transactions.

SLB has agreed to acquire Kelvion, a thermal management and heat-exchange technology provider, for approximately $3.4 billion in cash plus the assumption of about $700 million in debt, with the deal expected to close in the first half of 2027. The acquisition, from Apollo Global Management and Triton, aims to strengthen SLB's position in the rapidly growing AI and data-center cooling market. SLB expects the combined data-center businesses to generate $4.5 billion to $5 billion in revenue and $700 million to $800 million in adjusted EBITDA in 2028, and projects about $120 million in annual EBITDA synergies within three years. The company says the transaction will be accretive to earnings and free cash flow per share within the first 12 months, and it reaffirms its commitment to deliver more than $4 billion in shareholder returns in 2026.

Wall Street opened lower on Monday as US military strikes on Iranian rocket launchers and Iran's missile fire at a US airbase in Jordan rattled markets, while Federal Reserve Chair Kevin Warsh's hawkish tone on inflation at Jackson Hole boosted rate-hike bets. The Dow Jones Industrial Average fell 294 points, or 0.6%, to 53,266, the S&P 500 dropped 32 points, or 0.4%, to 7,680, and the Nasdaq Composite was down 102 points, or 0.4%, at 26,300. In energy news, President Donald Trump said the US had struck a deal to control Venezuelan oil supplies, taking a 35% passive stake in a Venezuelan oil company and securing preferential rights to purchase 20% of its production at cost. On the corporate front, PG&E shares fell 10% after California legislators rejected a bill limiting utilities' wildfire liability, while Aon agreed to acquire insurance brokerage USI for $17 billion from KKR, and Apollo agreed to sell data-center cooling provider Kelvion to SLB for over $3 billion. Investors now await the ISM manufacturing index on Tuesday and August nonfarm payrolls on Friday, with earnings from Broadcom and Dell due this week.

U.S.-listed energy stocks climbed in premarket trading Monday, tracking a more than 2% jump in oil prices after American forces struck an Iranian island in the Strait of Hormuz and Tehran retaliated. Brent crude rose 3.5% to $91.20 a barrel, while U.S. West Texas Intermediate also gained 3.5% to $86.30 a barrel. In turn, energy stocks rallied, with Chevron up 1.7%, Exxon Mobil rising 1.5%, Occidental Petroleum advancing 1.8%, ConocoPhillips gaining 1.3%, Halliburton climbing 2.5%, and SLB rising 1.7%. Refiners also participated, with Marathon Petroleum up 0.6% and Phillips 66 gaining 1%. U.S. forces struck two missile launchers on Iran's Larak Island on Sunday, marking the first confirmed American strikes on Iran since late July, and Iran's Revolutionary Guards responded by striking two U.S. air bases in Jordan. President Trump added to the confusion with a social media post claiming Iran's Kharg Island energy hub was being "blown to smithereens," but Iran denied any strike occurred and said oil operations there were continuing normally. Efforts to end the conflict remain stalled as international mediators work to reopen the Strait of Hormuz, a chokepoint that carried roughly one-fifth of global oil supply before fighting broke out at the end of February. U.S. Treasury Secretary Scott Bessent told Reuters that Washington is likely to roll out new secondary sanctions against Iran on a weekly basis going forward.

SLB has been selected as the strategic reservoir partner for the Havstjerne carbon storage project in the Norwegian North Sea, which aims to provide offshore storage for European industrial emitters. The company will supply subsurface engineering support to help develop large-scale carbon storage capacity at the site. In a separate development, SLB launched its ExaCT electrical downhole coiled tubing control system, which delivers real-time electrical control for downhole interventions across multiple applications. These announcements highlight SLB's dual focus on low-carbon projects and production optimization, with the Havstjerne role spanning from subsurface studies to subsea injection and monitoring, while ExaCT enhances its core well intervention services. Investors should watch for the Havstjerne final investment decision, which depends on concept and FEED work and reservoir appraisal data from 2025, as well as adoption rates for ExaCT, which has already reported a 175-hour reduction in a six-lateral well.

President Trump's new energy agreement with Venezuela grants U.S. companies majority control of more than 65 billion barrels of proven Venezuelan reserves, pushing total U.S.-accessible proven reserves to roughly 111 billion barrels, or about 7.1% of the world's 1.57 trillion barrels. The deal covers 17 strategic fields in the Orinoco Belt and Lake Maracaibo, with Venezuelan officials projecting over $100 billion in private investment and $209 billion in eventual tax revenue. Chevron, which already operates the largest U.S. footprint in the country and accounts for a substantial share of current output near 1.25 million barrels per day, is positioned as the clearest near-term beneficiary, while service providers like SLB have secured early contracts. However, Venezuela's extra-heavy crude requires specialized refining and major infrastructure repairs, so production gains will take years rather than months, and gas prices won't fall overnight. U.S. Gulf Coast refiners like Marathon Petroleum and Valero Energy stand to benefit from more reliable volumes, but the full production impact will unfold over years.

SLB NV has signed oil-related agreements with Venezuela and Hunt Oil to boost crude production, including a framework deal for integrated reservoir studies and a contract tied to two oil fields, with plans to reactivate up to 15 rigs. The agreements follow a long-term pact with state oil company PDVSA and President Trump's call for investment in Venezuela, which holds the world's largest proven reserves at about 17% of the global total. However, the country's history of nationalization, unpaid debts, and infrastructure challenges pose significant risks, despite SLB's longstanding local presence and potential competitive edge over rivals like Halliburton and Baker Hughes.

SLB and Venezuela's state-run PDVSA signed a contract last week granting the U.S. company access to coveted oilfield data and allowing it to organize and upgrade PDVSA's vast but outdated databases following years of neglect and a recent cyberattack. Many details of the contract, including duration and payment mechanism, remain unknown, but SLB will be able to use new technology, including artificial intelligence, to expand, modernize, and make Venezuela's oil data reliable again. Venezuela has not published routine oil statistics in more than a decade, and the latest annual bulletin released by the oil ministry was in 2015; except for limited production data reported monthly to OPEC, the lack of information has become a major obstacle to promoting oilfields for investment. PDVSA has managed to patch its main applications since it was the target of a ransomware attack last year that knocked down applications and key contract administration software, but it needs to migrate systems, particularly its geological and production databases, to new providers and implement modern tracking tools. Venezuela's oil ministry confirmed last week that an agreement with SLB had been signed with PDVSA to modernize exploration and production.

Ormat Technologies is launching two enhanced geothermal systems pilot projects in Nevada as it pivots toward powering AI data centers. The company is partnering with geothermal startup Sage Geosystems and oilfield services giant SLB, while also working with Google and data center developer Switch. CEO Doron Blachar says the pilots could be online by late 2027 and that each EGS project with a hyperscaler could easily reach 500 megawatts. Ormat posted revenues of $662.7 million for the first half of 2026, up 43% from last year, on a net profit of $71.2 million, up 4% year-on-year.

Liberty Energy reported second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents, while revenues rose 14% year over year to $1.2 billion. Adjusted EBITDA fell 16% to $151 million, and total costs and expenses increased 17% to $1.2 billion. The company declared a cash dividend of 9 cents per share, payable September 18, 2026, and announced a joint venture with PowerBridge to develop powered data center campuses, initially supporting a planned 2-gigawatt facility in West Texas. Liberty Energy also formed a strategic alliance with SLB and launched Liberty Wholesale Commodities to expand its Chorus platform into ERCOT power markets. Shares have lost about 1.9% since the earnings report, underperforming the S&P 500.

SLB has received a contract from Brunei Shell Petroleum to assist in restoring production from shut-in wells in multiple offshore fields. The agreement covers multiple disciplines and services, aiming to improve recovery from mature assets through an integrated execution model, though financial terms were not disclosed. SLB will provide subsurface evaluation, candidate selection, engineering, offshore execution, project management, intervention operations, monitoring, metering, and marine logistics under a single framework. This marks the first time BSP uses an integrated production restoration model, following a well, reservoir, and facility management methodology. BSP operates over 200 offshore installations connected by more than 5,000 kilometers of pipeline.

SLB reported second-quarter results that exceeded Wall Street expectations, with revenue of $8.97 billion beating analyst estimates of $8.68 billion and adjusted earnings per share of $0.55 surpassing the $0.52 consensus. The 4.5% year-on-year revenue decline was offset by broad-based international growth and a rebound in North American operations, while operating margin narrowed to 13.3% from 14.3% a year earlier. CEO Olivier Le Peuch highlighted higher offshore activity in Latin America, Europe, Africa, and Asia, along with increased U.S. land demand, though Middle East operations remained constrained by ongoing conflict. During the earnings call, analysts pressed management on the pace of Middle East recovery, the durability of the exploration cycle, offshore growth prospects for 2027, the economics of the new Data Center Solutions business, and revenue potential in Venezuela. The company noted that Data Center Solutions is capital-light with strong free cash flow despite lower margins, and it is preparing to scale operations in Venezuela with contracts secured for 2027.

SLB shares climbed last week after the oilfield services leader reported higher-than-expected sales and profits. Revenue rose 5% year over year to $8.97 billion in the second quarter, while adjusted earnings reached $0.55 per share, topping Wall Street estimates of $0.52. CEO Olivier Le Peuch cited the Middle East conflict as driving customers to prioritize energy security and production capacity expansion. The company is also expanding into artificial intelligence, with data center revenue soaring 80% and on pace to surpass a $1 billion annualized run rate by the end of 2026.

SLB announced an alliance with Liberty Energy to deliver modular behind-the-meter power solutions for AI-driven data centers, while its OneSubsea joint venture secured a multi-well subsea EPC contract from Eni for Phase 3 of the Baleine project offshore Côte d'Ivoire. The company's narrative projects $42.2 billion in revenue and $5.6 billion in earnings by 2029, requiring 5.5% annual revenue growth and a $2.3 billion earnings increase from $3.3 billion today. A Kuwait Oil Company seven-year Ahmadi Innovation Valley agreement reinforces SLB's push into AI, industrial IoT, and production optimization. Analysts' cautious view assumes about 3% annual revenue growth and roughly $4.8 billion in earnings by 2029. SLB's fair value estimate stands at $61.39, representing a 30% upside to its current price.

Liberty Energy Inc. reported second quarter 2026 revenue of $1.2 billion, a 14% increase from the prior year, with net income of $43 million and adjusted EBITDA of $151 million. The company distributed $15 million to shareholders through cash dividends and announced a joint venture with PowerBridge LLC to support gigawatt-scale powered data center campuses, including an initial deployment of over 300 megawatts targeted for late 2027. Liberty also formed a strategic alliance with SLB to deliver modular infrastructure and integrated power generation solutions for global data center projects, and established Liberty Wholesale Commodities to extend its Chorus offering through direct participation in ERCOT power markets. The company secured additional long-term equipment purchases with several leading OEMs to support its power generation roadmap through 2030, and commenced commercial operations of its proprietary last-mile sand slurry delivery system, SLXRRY. CEO Ron Gusek highlighted strong operational execution amid commodity price volatility and geopolitical uncertainty, noting that the digiPrime platform's success in the U.S. is leading to a fleet deployment in Canada with a key cross-border customer.

The global gas separation membranes market is projected to grow from $1.5 billion in 2025 to $2.5 billion by 2031, a compound annual growth rate of 9.1%, according to a new report from BCC Research. The expansion is driven by surging demand for green hydrogen production and carbon capture technologies, with the carbon capture application segment growing at a 40% CAGR. Asia-Pacific holds a 43.5% market share, led by industrial growth in China and India and aggressive clean energy mandates. Key players include Air Products and Chemicals Inc., Air Liquide, Honeywell International Inc., SLB, and Membrane Technology and Research Inc.

LithiumBank Resources Corp. has appointed Logan R. Harris, formerly of ExxonMobil Low Carbon Solutions, as Vice President of Project Development. Harris led deep-brine direct lithium extraction project development at ExxonMobil, where he built the business case for large-scale lithium projects and brings more than 15 years of experience in subsurface engineering, drilling, completions, and economic optimization of major capital projects. His initial focus will be advancing the Boardwalk Lithium Brine Project in Alberta through feasibility studies, front-end engineering and design, and permitting, while coordinating technical, commercial, and regulatory workstreams. The appointment comes as LithiumBank transitions from resource delineation toward project execution and commercialization, with the company holding 1,240,140 acres of brine-hosted mineral licenses and a development agreement with SLB for the Boardwalk project.

SLB shares drew attention after the company announced a new alliance with Liberty Energy to supply modular infrastructure and integrated power generation for data centers serving AI and high performance computing. The most widely followed narrative points to a fair value around $61.39, compared with SLB's last close at $47.54, suggesting the stock is undervalued. This valuation is grounded in detailed long-term earnings and cash flow assumptions, supported by double-digit year-over-year growth in SLB's digital business, notably the DELFI platform. However, the narrative faces pressure from potential declines in global upstream spending and the risk that the ChampionX integration delivers slower or smaller cost synergies.

SLB announced that its OneSubsea joint venture has been awarded a major multi-well engineering, procurement, and construction contract by Eni for Phase 3 of the deepwater Baleine project offshore Côte d'Ivoire. SLB OneSubsea will deliver complete subsea production systems for 13 wells. The contract supports Eni's efforts to advance the complex deepwater project efficiently while contributing to the long-term development of offshore resources in Côte d'Ivoire. In pre-market trading on NYSE, SLB shares rose 0.93 percent to $48.20.

Wolfe Research initiated coverage of three major oilfield services companies, assigning Outperform ratings to SLB and Baker Hughes while rating Halliburton at Peer Perform. Analyst Carlos Escalante said the industry faces a selective capital cycle favoring international exposure. On SLB, Wolfe set a $62 price target, citing margin upside from the ChampionX integration and growth in digital and data center business lines, which doubled from fiscal 2024 to 2025 and is expected to grow 13-15% annually over the next decade. Baker Hughes received a $70 price target, with Wolfe saying its free cash flow trajectory is being mispriced at an oilfield services multiple and its Industrial and Energy Technology business is set to exceed 50% of EBITDA for the first time. The pending $13.6 billion Chart Industries acquisition was flagged as a key catalyst. Halliburton was seen as largely macro dependent, carrying the largest North America exposure of the large-cap oilfield services group.

SLB shares have fallen 23% from their recent high amid a crash in oil prices, but the oilfield services company is being touted as a top buy on the dip. Brent crude, which surged to $138 per barrel earlier this year after U.S. and Israeli strikes on Iran, has since plummeted to around $71 per barrel on hopes of a peace deal. SLB’s first-quarter revenue fell 11% sequentially and net income dropped 6% year over year to $752 million due to Middle East disruptions, though management views the impact as temporary and is preserving capacity for a rebound. The company points to a Final Investment Decision pipeline exceeding $100 billion in long-cycle deepwater projects, which supports pricing power and future revenue. With oil still above pre-conflict levels and supply rebalancing expected, SLB is positioned to benefit from sustained upstream investment.

SLB has signed a seven-year contract with Kuwait Oil Company to lead the Ahmadi Innovation Valley initiative, which includes a dedicated research and development facility focused on digital technology and deployment across Kuwait's energy sector. The company is also launching a major international innovation hub tied to this long-term collaboration in the Middle East. Over the seven-year timeframe, the scope and visibility of this agreement may influence how SLB allocates capital and engineering resources in the region. Investors can monitor how quickly the new research hub ramps up, the extent to which technology from the project is adopted across Kuwait, and whether similar contracts are announced in other Middle Eastern markets.

SLB has been awarded a seven-year contract by Kuwait Oil Company to develop and deploy advanced technologies under KOC's Ahmadi Innovation Valley program. The oilfield services company will work with KOC on nearly 100 projects focused on AI, production optimization, reservoir technologies, water management and energy transition, aiming to improve upstream operations and build local technical expertise. As part of the deal, SLB will build a dedicated innovation facility in Kuwait, with construction starting in 2026 and the center set to open in 2028. In pre-market activity on the NYSE, shares of SLB were up 0.58 percent, changing hands at $46.63, after closing Monday's regular session 1.32 percent lower.

Industrial Realty Group announced that its Shreveport Business Park, a 3.5-million-square-foot former General Motors plant, is now fully leased after tenant SLB expanded its footprint to 3.1 million square feet. SLB, a global energy technology company, has grown its presence at the campus since 2023 and now occupies the balance of the remaining space, joining Hyundai Glovis and USPS as the park's three tenants. SLB's latest expansion brings its total investment to over $48.5 million and its on-site workforce to 820 employees, with an estimated 1,200 following completion and a projected 1,400 total park employees by 2027, surpassing the roughly 800 workers at the time of GM's 2012 closure. The milestone marks the culmination of a transformation from a largely vacant facility into a major advanced manufacturing hub generating significant economic benefits for Northwest Louisiana.