BJ Services Company announced that a verdict was rendered in its favor by a Federal Court jury in Houston, Texas, in connection with its patent infringement lawsuit filed against Halliburton Energy Services. BJ Services filed this lawsuit in March of 2000 seeking damages for Halliburton's infringement of the patented method for fracturing oil and gas formations with a low polymer fracturing fluid, which BJ markets as Vistar(R). The jury found that Halliburton's competing system, known as Phoenix, infringed BJ's patent and that BJ's patent is valid. The jury has awarded BJ the sum of $98.1 million in damages. In light of the jury's finding, the Court will issue a permanent injunction prohibiting Halliburton from continuing to sell or offer for sale its Phoenix system. Halliburton has stated it plans to appeal the award.
BJ Services Chairman and CEO, J.W. Stewart commented, "BJ Services invested tremendous research and development resources to develop this unique low polymer fracturing fluid that has delivered great results for our customers. We are prepared to offer this Vistar(R) technology and the services that accompany that technology to any customer anywhere in the world."