Halliburton has closed the previously announced acquisition of the 49 percent equity of Shell Technology Ventures Fund 1 B.V. in WellDynamics B.V. With this transaction complete, Halliburton owns 100 percent of WellDynamics.
"Combining WellDynamics' leading market and technology position with Halliburton's robust well completions and reservoir monitoring portfolio provides us significant competitive advantage in delivering increased reservoir productivity and maximized ultimate recovery to our clients," said David King, president of Halliburton's Completion and Production Division.
Founded in 2001, WellDynamics is the world's leading provider of intelligent well completion technology. WellDynamics has an extensive track record of delivering reliable products, understanding the unique demands of customer applications, and developing innovative, fit-for-purpose solutions. WellDynamics' award-winning SmartWell technology has been successfully deployed in over 300 wells worldwide. Its product offering consists of a comprehensive suite of intelligent completion equipment and services, including downhole flow control devices, downhole permanent monitoring equipment, fiber optic sensors, and surface data acquisition and automated control systems.
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