Halliburton Nabs Microseismic Mapping, Reservoir Monitoring Services Co.
Halliburton 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, 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, VP of 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."
- Halliburton Posts International Revenue Growth, Unlike Schlumberger (Oct 23)
- Halliburton CEO Defends Fracking Business as Margins Disappoint (Oct 23)
- Venezuela's IOUs Pile Up, Keeping US Oil Servicers in Tow (Aug 23)