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RAYTHEON TO SELL SEISMIC BUSINESS TO SCHLUMBERGER

 RAYTHEON TO SELL SEISMIC BUSINESS TO SCHLUMBERGER
 LEXINGTON, Mass., July 24 /PRNewswire/ -- Raytheon Company


(NYSE: RTC) and Schlumberger Limited (NYSE: SLB) today jointly announced the sale of Raytheon's seismic business to Schlumberger. The two companies have signed definitive agreements for the acquisition of Raytheon's Seismograph Service Ltd. and GeoQuest Systems, Inc. The acquisitions by Schlumberger must still be approved by the appropriate regulatory authorities.
 Seismograph Service provides geophysical exploration services for oil, gas and minerals. Seismograph has a presence in Europe, Africa, Latin America and the Far East.
 They currently operate three marine seismic vessels, 12 land seismic crews and data processing centers in 11 countries and employ about 1,400 people.
 GeoQuest Systems develops and markets integrated workstation software for geophysical and petroleum applications. With a strong software sales and support organization, GeoQuest has over 90 customers in more than 30 countries worldwide and employs 160 people.
 Schlumberger is a worldwide leader in oilfield services and electronic measurement and systems with revenues in excess of $6 billion and 53,700 employees.
 Raytheon Company, headquartered in Lexington, Mass., is a $9.3 billion multi-industry, diversified technology company active worldwide in electronics, energy and environmental services, aviation and appliances. Raytheon has over 69,000 employees worldwide.
 -0- 7/23/92
 /CONTACT: Pat Coulter of Raytheon, 617-860-2173, or Roger Goodman for Schlumberger, 212-350-9432/
 (RTN SLB) CO: Raytheon Company ST: Massachusetts IN: ARO SU:


TM -- NE012 -- 3153 07/24/92 16:30 EDT
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Publication:PR Newswire
Date:Jul 24, 1992
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