Halliburton Enters into Agreement to Acquire PSL Energy Services Limited.HOUSTON -- Halliburton (NYSE NYSE See: New York Stock Exchange :HAL Hal: see Halle, Belgium. hal In Sufism, a state of mind reached from time to time by mystics during their journey toward God. The ahwal (plural of hal) are God-given graces that appear when a soul is purified of its attachments to the material world. ) has entered into a definitive agreement with the shareholders of PSL 1. PSL - Portable Standard Lisp. 2. PSL - Problem Statement Language. See PSL/PSA. Energy Services Limited (PSLES) to purchase the entire share capital of the company. This agreement is subject to receipt of necessary regulatory approvals. Founded in 2003, PSLES is a leading eastern hemisphere Eastern Hemisphere Part of the Earth east of the Atlantic Ocean. It includes Europe, Asia, Australia, and Africa. Longitudes 20° W and 160° E are often considered its boundaries. provider of process, pipeline and well intervention A well intervention, or 'well work', is an activity involving maintenance, modification, repair or completion of an oil or gas well. Types of well work Pumping
flange n. 1. management and bolting, leak testing, pre-commissioning services, hydrotesting, hydraulic workover, coiled tubing Coiled tubing refers to metal piping, normally 1" to 2" in diameter, used for interventions in oil and gas wells, which comes spooled on a large drum. The main benefits over wireline are the ability to pump chemicals through the coil and the ability to push it into hole rather than , slickline and wireline, and pumping services. The company, headquartered in the United Kingdom, has approximately 1,000 employees and operational bases in the U.K., Norway, Middle East, Azerbaijan, Algeria and Asia-Pacific locations. "Geographic growth in the Eastern Hemisphere and expanded proprietary service technologies are compelling reasons for this acquisition," said David King, senior vice president of Halliburton's Production Optimization division. "Bringing the two companies together will greatly improve our ability to help our customers meet their goals for production enhancement." "In the Well Intervention business we are enhancing our ability to reliably deploy complex well intervention solutions, such as PinPoint Stimulation, PropStop(SM) and live well intervention services. This acquisition accelerates deployment of these services internationally, especially in the Eastern Hemisphere," explained Mark Phillips, vice president of the Production Enhancement product service line within the Production Optimization division. Doug Duguid, PSLES Managing Director, said "PSLES brings a number of proprietary technologies relating to subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". pipeline and excavation operations. Additionally, PSLES has capabilities that will broaden Halliburton's ability to deploy its chemical and tool technologies. This combination of businesses will provide greater opportunities for our employees and enhance value to our customers." Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 45,000 employees in nearly 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir--from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's World Wide Web site at www.halliburton.com. |
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