Schlumberger Unit, Baker Hughes Settle Drilling-Tech Patent Case

Schlumberger Ltd.’s Smith International Inc. and Baker Hughes Inc. settled a case over patent royalties related to oil-and-gas-drilling technology, according to an agreement approved Friday by a federal judge in Delaware.

The case, filed in 2016, had been paused since February 2021 to allow for mediation. No details were provided in the joint stipulation of dismissal with prejudice that Judge Eduardo C. Robreno approved in the U.S. District Court for the District of Delaware.

One of the patents, for a drill bit to widen a hole, had been canceled by a U.S. Patent and Trademark Office tribunal after a review ...