Halliburton Acquires Knowledge Systems
Landmark, a product service line of Halliburton's Drilling and Evaluation Division, announced that it has acquired all intellectual property, assets and existing business of Knowledge Systems Inc. Founded in 1985, Knowledge Systems is the world's leading provider of combined geopressure and geomechanical analysis software and services. The company, headquartered in Sugar Land, Texas, has approximately 90 employees in offices in Sugar Land; Perth, Australia; and Guildford, U.K.
Ensuring that wells are placed optimally and economically, while minimizing non-productive time during the drilling process, requires an end-to-end well design and delivery solution. The addition of Knowledge Systems to Halliburton's suite of technologies and services delivers such a solution.
Paul Koeller, vice president of Landmark, said: "Drilling in deeper, more remote locations and in more complex reservoirs requires access to the real-time pore pressure and geomechanical information that Knowledge Systems provides. We are better meeting these ever-increasing industry challenges by offering clients this expertise at the rig site as well as onshore to enhance their operations."
Koeller continued: "Integrating Landmark's industry-leading well planning and engineering solutions with Knowledge Systems' pore pressure prediction and geomechanics solutions uniquely positions Halliburton to address our clients' needs by reducing the cycle time needed to plan, drill and complete wells. By leveraging seismic source data and interpretations from Landmark's industry-leading OpenWorks project database, we can enhance pore pressure predictions and reduce uncertainty and risks in the drilling process."
"The success of Knowledge Systems is due to the outstanding support of our customers in combination with the hard work and dedication of our staff," said Jim Bridges, founder and chairman of the board of Knowledge Systems. "We are excited that this acquisition by Halliburton will create synergies that stand to improve drilling efficiency and reduce drilling costs throughout the industry."
Landmark is a leading supplier of technologies, consulting and project management for the upstream oil and gas industry. The company's software solutions span exploration, production, drilling, business-decision analysis and data management. Landmark offers a broad range of consulting, services and infrastructure technologies that enable customers to optimize their technical, business and decision processes.
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Company: Knowledge Systems more info
- Halliburton Acquires Knowledge Systems (May 02)
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