Halliburton acquires Pinnacle Technologies

Published: 10-Nov-2008

By: Staff Writer Staff Writer Staff Writer

Halliburton, which provides a suite of services and products to the oil and gas industry, has acquired Pinnacle Technologies, a provider of real-time tilt meter and micro-seismic 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.

Jonathan Lewis, vice president of Halliburton Wireline and Perforating Services, said: 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.

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