Industry Leader in Geochemistry Joins Weatherford’s Expanding Core Evaluation Services
HOUSTON, May 16, 2007 -- Weatherford International Ltd. (NYSE:WFT) today announced that it has acquired Humble Geochemical Services, LLC, a company specializing in complete analytical, interpretive, and modeling services in organic geochemistry commonly used in conventional and unconventional exploration and production evaluation.
The acquisition adds several important components to Weatherford’s growing core evaluation services. These components include a premier team of geochemists providing industry with proprietary organic geochemistry analysis and interpretation, speculative regional studies, and specialized analytical instrumentation.
Humble is Weatherford’s latest addition to the company’s newly formed core evaluation services expertise, which provides comprehensive analytical services to the oil and gas industries. Prior acquisitions included OMNI Laboratories, the world’s second-largest core management service company, and Hycal Research Labs, industry-leading formation damage expertise and reservoir characterization providers.
“The acquisition of Humble Geochemical represents a strategic expansion of our lab capabilities to our clients,” said Chris Bechtel, Weatherford’s Core Evaluation Services Group Leader. “These services add a robust foundational piece to our growing unconventional reservoir evaluation package that can benefit not only domestic U.S. clients, but in the growing international markets as well. Needless to say, we are very excited.”
“Joining Weatherford and its core services capabilities is the right step at the right time for Humble and its clientele,”commented Dan Jarvie, Founder and President of Humble. "Geochemistry has a major impact on the assessment of both conventional and unconventional exploration plays. Partnering with Weatherford will enhance our efforts to provide timely analytical services to our clients."
Humble Geochemical Services provides detailed analytical services to answer questions regarding source rock potential, type, maturity and composition as well as detailed oil and gas analysis. Humble’s senior team of geochemists sets the standard for interpretation of geochemical data and have favorably impacted the proper utilization of geochemistry in unconventional resource exploration plays around the world by directing industry to the best areas for hydrocarbon production.
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 33,000 people worldwide.
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