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HOUSTON--(BUSINESS WIRE)--July 5, 2006--Schlumberger today announced
it has acquired TerraTek, Inc., a global leader in geomechanics measurements and analysis. TerraTek, with 80 people in the Salt Lake
City office, will become the Geomechanics Laboratory Center of Excellence
for Schlumberger Data & Consulting Services.
This acquisition brings together the expertise and knowledge base of both
companies to create a unique domain of expertise in geomechanics measurements and analysis. Customers will benefit from unparalleled
services that can reduce reservoir risk and uncertainties by delivering more accurate reservoir characterization.
" By integrating their knowledge of applied geomechanics core evaluation
with our expertise in petrophysics and geomechanics, we will enhance the value
of our services, particularly in the unconventional gas reservoirs
that will produce a greater proportion of future world supply," said Chris Hopkins, president, Data & Consulting
Services, Schlumberger.
The Geomechanics Laboratory Center of Excellence will offer rock mechanics
evaluations, unconventional gas reservoir analysis, large-scale drilling
and completions performance testing, and log-to-core integration.
"
This is a significant step for our employees and our customers," said Sidney
Green, chief executive officer, TerraTek. "As part of the Data& Consulting
Services group, our measurements and analysis of rock
properties can leverage the industry's leading petrophysical technologies
as well as provide substantial knowledge to further develop advanced
reservoir solutions."
Geomechanics analysis provides vital understanding of the behavior of
hydrocarbon reservoir rocks as they undergo the mechanical changes associated with drilling and production activity.
Schlumberger is the world's leading oilfield services company supplying technology,
information solutions and integrated project management that optimize reservoir performance for customers working in the oil and gas
industry. The company employs more than 64,000 people of over 140 nationalities
working in more than 80 countries. Schlumberger supplies a wide range of products and services from seismic acquisition and
processing; formation evaluation; well testing and directional drilling to
well cementing and stimulation; artificial lift and well completions; and consulting, software and information management. In 2005,
Schlumberger operating revenue was $14.31 billion. For more information, visit www.slb.com.
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