Addition Provides Operators with an Unparalleled Real Time
Stimulation Optimization and Reservoir Monitoring Offering
Halliburton (NYSE:HAL) has closed the acquisition of Pinnacle
Technologies, the industry’s leading provider
of real time tiltmeter and microseismic mapping and reservoir monitoring
services. The transaction aligns Halliburton’s
Wireline and Perforating Services capabilities with Pinnacle’s
technologies and expertise to provide operators with a comprehensive
solution to the complex exploration and production challenges of shale
reserves and other unconventional assets.
The acquisition includes the majority of Pinnacle’s
assets, including the company’s fracture
mapping and reservoir monitoring business lines and its operational and
business development offices in North America. Pinnacle’s
assets, which were acquired from a subsidiary of CARBO Ceramics (NYSE:
CRR), will operate as a business unit within Halliburton Wireline and
Perforating Services and will retain the Pinnacle brand and management
team.
“We are pleased to close this acquisition and
initiate the integration process with Pinnacle’s
talented group of professionals,” said
Jonathan Lewis, vice president, Halliburton Wireline and Perforating
Services. “By combining Halliburton Wireline
and Perforating Services with Pinnacle’s
renowned capabilities, our customers will have access to the industry’s
most advanced real time well stimulation monitoring and analysis service
that will enable them to minimize fracturing uncertainty, rapidly verify
pay zones and optimize reservoir drainage.”
About Halliburton
Founded in 1919, Halliburton is one of the world’s
largest providers of products and services to the energy industry. With
more than 50,000 employees in approximately 70 countries, the company
serves the upstream oil and gas industry throughout the life cycle of
the reservoir – from locating hydrocarbons
and managing geological data, to drilling and formation evaluation, well
construction and completion, and optimizing production through the life
of the field. Visit the company’s Web site at www.halliburton.com.
Halliburton
Diana Gabriel, +1-713-759-2608
Senior Manager,
Corporate Affairs
diana.gabriel@halliburton.com
