Industry Leader in Geochemistry and Data Management Joins Weatherford’s Expanding Integrated Laboratory Services
HOUSTON, May 9, 2008 -- Weatherford International Ltd. (NYSE:WFT) today announced the acquisition of Baseline Resolution, Inc. a company dedicated to providing the best geochemical analysis available to the oil industry, and InfoLogic, Inc., an affiliate company which provides analytical data management solutions and products.
These acquisitions add several important components to Weatherford’s growing Integrated Laboratory Services group. Together, Baseline and InfoLogic bring a premier team of geochemists, analysts, and software developers that provide industry with proprietary organic geochemistry analysis, interpretation, speculative regional studies, and data management solutions customized for their clients.
These acquisitions are Weatherford’s latest additions to the company’s newly formed integrated laboratory services group, known as Weatherford Laboratories. Prior acquisitions include Houston-based companies OMNI Laboratories and Humble Geochemical; TICORA and Tesseract of Denver, Colorado; Rotary Labs in Midland Texas; Hycal in Calgary, Canada; and ResLab, headquartered in Norway. Weatherford Labs currently has 32 laboratory locations in 13 countries.
“We are very excited about the addition of these two dynamic companies into our Weatherford Labs team”, said Chris Bechtel, the group’s Vice President. “By combining Baseline’s industry leading methodologies with our current expertise in the geochemistry of rocks via Humble, we are uniquely positioned to offer our clients comprehensive analyses previously unavailable to the industry from a single company. Additionally, having InfoLogic onboard will benefit our entire laboratory network, particularly in terms of new and innovative data delivery systems.”
“We are very pleased to be joining Weatherford Laboratories and its outstanding group of scientists and analysts,” said David Stansbury, President of Baseline. "The easy reservoirs are gone. As our clients are focusing on the unconventional and hard to reach reservoirs remaining, the need for our services is enjoying a renaissance. We are thrilled to be part of an organization that is dedicated to getting the hard questions answered.”
Weatherford is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs more than 42,500 people worldwide.
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