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Wednesday, June 25, 2008
Release–Schlumberger Acquires Extreme Engineering
HOUSTON, June 24, 2008 – Schlumberger announced today that it has acquired the business of Extreme Engineering Limited, a Calgary-based supplier of unmanned measurement-while-drilling (MWD) systems from its founders and investors that include the Shell Technology Ventures Fund 1 BV managed by Kenda Capital BV.
“The combination of Extreme XPulse and XEM technologies with Schlumberger PowerDrive* rotary-steerable drilling systems will provide operators in North America and Canada with advanced technologies that can bring heightened efficiency to land operations where improved well performance must be enabled by cost-effective services,” said Jean-Francois Poupeau, president of Schlumberger Drilling & Measurements. Poupeau added, “During 2009 the geographical focus will widen to expand deployment of Extreme technologies to regions outside North America.”
Extreme Engineering, which will continue to operate under its own brand, maintains major operational bases in Calgary, Alberta, Denver, Colorado and Fort Worth, Texas, backed by engineering and manufacturing facilities in Calgary. The company employs 68 people.
About Schlumberger
Schlumberger is the world’s leading oilfield services company supplying technology, integrated project management and information solutions that optimize performance for customers working in the oil and gas industry. The company employs more than 80,000 people of over 140 nationalities working in approximately 80 countries. Schlumberger supplies a wide range of products and services from advanced seismic acquisition and processing; formation evaluation and directional drilling to well cementing and stimulation; well completions and productivity; and consulting, software and information management. In 2007, Schlumberger operating revenue was $23.27 billion. For more information, visit www.SLB.com.
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*Mark of Schlumberger
For further information, contact:
Susan Ganz
Media Relations Manager
Schlumberger Oilfield Services
+1 281 285 8245
[email protected]
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