WellDynamics Acquires Halliburton's Reservoir Performance Monitoring Business.Acquisition Strengthens Company's Position in Permanent Monitoring Market and Provides Foundation for Growth HOUSTON -- WellDynamics Inc., the leading provider of intelligent completion technology to the upstream oil industry, today announced that it has acquired Halliburton's (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. ) Reservoir Performance Monitoring (RPM) business. The acquisition complements WellDynamics' 2005 acquisition of The Wood Group's Production Technology business as part of its strategy to expand its SmartWell[R] intelligent completion technology business. "Acquiring the RPM business not only enriches WellDynamics' existing permanent monitoring capabilities, but also enables us to better serve customers in both the premium and cost-effective permanent monitoring markets with a larger support team and a long history of quality product development," said Phil Longorio, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , WellDynamics. "We are also excited about the new opportunities for innovation that RPM's global market and product focus bring to WellDynamics. Having this expertise in-house will give us a greater ability to focus on innovative technologies, such as fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , that deliver greater value to our permanent monitoring customers." The RPM business consists of three primary components - fiber optic systems, the EZ-Gauge[R] capillary capillary (kăp`əlĕr'ē), microscopic blood vessel, smallest unit of the circulatory system. Capillaries form a network of tiny tubes throughout the body, connecting arterioles (smallest arteries) and venules (smallest veins). tubing systems, and electronic systems. The fiber optic systems include the OptoLog[R] DTS (1) (Digital Theatre Sound) A digital audio encoding system used in movie and home theaters. Popularized by the movie Jurassic Park, the six-channel (5. fiber optic distributed temperature monitoring method, as well as other fiber optic sensor systems. The EZ-Gauge capillary tubing system is a reliable and long-lasting downhole monitoring system which features no electronics and no moving mechanisms. The electronic systems include the Symphony[R] electronic permanent P/T P/T Part Time P/T Pass-Through P/T Powertrain (automotive) P/T Province/Territory P/T Pressure Transmitter P/T Paris/Torres (Star Trek characters) P/T Peak & Trough P/T Press to Talk P/T Precision over Tolerance monitoring systems, as well as a range of other electronic pressure and temperature monitoring systems. Jim Renfroe, senior vice president of Strategy for Halliburton, said: "We are pleased to complete this next step in aligning technologies where they belong. This move will allow WellDynamics to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. all aspects of intelligent well completions and will allow our Halliburton Completion Tools product service line to increase its focus on other offerings." About WellDynamics WellDynamics, a joint venture company of Halliburton Energy Services and Shell Technology Ventures, is the global leader in providing intelligent completion technology for reservoir monitoring and control to the upstream oil industry. Its downhole flow control systems are today installed in more than 215 wells, and its permanent monitoring systems are in place in more than 800 wells. The RPM business brings to WellDynamics a track record of over 100 additional permanent installations, 110 OptoLog DTS wells, in excess of 2000 EZ-Gauge installations, and several thousand semi-permanent or retrievable DTS surveys. Based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , with offices around the world, WellDynamics boasts a customer list that includes more than 50 of the leading upstream companies. Visit the WellDynamics site at www.welldynamics.com. |
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