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Camco International Announces Acquisition of Artificial Lift Business Line of Halliburton Company

HOUSTON, Dec. 10 /PRNewswire/ -- Camco International Inc. (NYSE: CAM) announced that it has acquired the artificial lift business line of Halliburton Company (NYSE: HAL). This business line is comprised of gas lift systems and associated control products. Gas lift systems use compressed natural gas to increase the production rates in oil wells, primarily in offshore and remote locations.

The acquisition will expand Camco's technology and capacity to serve the worldwide artificial lift market as well as enlarge Camco's current product offerings. Revenues of the acquired business, principally from international customers, were approximately $15 million over the past 12 months.

Camco International Inc. is a worldwide oilfield equipment and service company providing specialized products and services in drilling, well completions, production and well services for the oil and gas industry. Camco's trade names include Camco Coiled Tubing Services, Camco Products, Camco Wireline, Hycalog, Lasalle Engineering, Lawrence Technology, Reda, Reed Tool and Site Oil Tools.

SOURCE Camco International Inc.
 -0- 12/10/96

/CONTACT: Herbert S. Yates, senior vice president - Finance of Camco International Inc., 713-749-5680/


CO: Camco International Inc., Halliburton Company ST: Texas IN: OIL SU: TNM

LH -- NYTU076 -- 5580 12/10/96 13:13 EST
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Publication:PR Newswire
Date:Dec 10, 1996
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