Rotary Lab and other acquisitions bolster company’s growing core evaluation business
HOUSTON, October 29, 2007 -- Weatherford International Ltd. (NYSE:WFT) today announced that it has acquired Rotary Laboratories, Inc. (Rotary Lab), a strong player in the full diameter and sponge core analysis sector of the oil and gas industry.
This acquisition augments several important components of Weatherford’s core evaluation services, including the ability to perform full diameter analysis.
Rotary Lab is a privately owned laboratory service company based in Midland, Texas and is the market leader for full diameter and sponge core analysis.
The Rotary Lab acquisition represents Weatherford’s most recent addition to the company’s newly formed core evaluation services expertise, which provides comprehensive analytical services to the oil and gas industries.
Prior acquisitions include the following: OMNI Laboratories, the world’s second-largest core management service company; Reservoir Laboratories (ResLab), the market leader for reservoir laboratory services and core analysis testing in the Eastern Hemisphere; Hycal Energy Research Labs, industry-leading provider of formation damage and reservoir optimization expertise; TICORA Geosciences, the industry leader in characterization of coals and other unconventional gas reservoirs; and Humble Geochemical Services, the industry leader in hydrocarbon geochemistry. Altogether, the company now serves clients through 29 laboratory facilities and 6 Centers of Excellence.
“This acquisition is perfectly in line with our ongoing growth strategy to build an integrated team focused on complex reservoir evaluation,” commented Chris Bechtel, Business Unit Vice President, Core Evaluation Services for Weatherford. “With this footprint, we are now poised to service both the conventional core market as well as the growing unconventional resource plays in West Texas.”
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 35,000 people worldwide.
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Media Contact – Christine Mathers: +1-713-386-8989