This excerpt taken from the SLB 8-K filed Apr 29, 2005.
Preemptive and Other Rights
The shares of Schlumbergers common stock do not carry any preferential, preemptive or conversion rights, and there are no redemption provisions with respect to the common stock. The shares of preferred stock (if issued and outstanding) would not carry any preemptive rights, but Schlumbergers Board of Directors could specify conversion rights, redemption provisions and (within limits) liquidation preferences with respect to one or more series of preferred stock. The Board of Directors may grant contract rights to acquire shares of Schlumbergers capital stock.