HALLIBURTON RESERVOIR DESCRIPTION SERVICES FORMED
HALLIBURTON RESERVOIR DESCRIPTION SERVICES FORMED DALLAS, Jan. 21 /PRNewswire/ -- Halliburton Company (NYSE: HAL)
officially announced today the formation of Halliburton Reservoir Description Services, a division of Halliburton Reservoir Services, to provide integrated technological reservoir characterization services to the energy industry worldwide.
Halliburton Reservoir Description Services, headquartered in Houston, combines personnel and technologies from several of Halliburton Energy Services Group's operating units, including Halliburton Geophysical Services, Halliburton Logging Services, Sierra Geophysics and Halliburton Reservoir Services. The new organization offers comprehensive reservoir description services, integrating geophysical, geological and reservoir engineering data to create and visualize models of static and dynamic reservoir properties. "In response to the energy industry's demand for integrated reservoir description, we have assembled a multi-disciplined team of experienced geoscientists from the Energy Services Group to provide the most advanced reservoir data integration, analysis and visualization services available," said Lester L. Coleman, president of Halliburton Energy Services Group. "The formation of Halliburton Reservoir Description Services is another step in the continued development of the Energy Services Group, from its traditional roots as a data gathering company, into its present form that has the added value of also being a data analysis company." Coleman also said that, "We are committed to adapting the Energy Services Group to match our customers' needs in the 1990s. We believe reservoir information technology, such as provided by Halliburton Reservoir Description Services, will be the fuel to drive our industry in the immediate future." Walter E. Bliss, president of the parent Halliburton Reservoir Services (HRS), said, "The addition of Halliburton Reservoir Description Services to HRS is a logical extension of our traditional well testing activities. Our consolidation of all the geoscience and reservoir description disciplines into a unified team will greatly benefit Halliburton's customers." Richard M. Bateman has been named manager of Halliburton Reservoir Description Services. Previously, Bateman served as chief petrophysicist of Halliburton Logging Services. "Richard's 28 years of broad industry experience in the service sector, including research, exploration and production, and consulting, will help lead the reservoir description team," said Bliss. "He has spent the majority of his career leading technical teams that developed and applied geoscience systems and software for hydrocarbon reserve description." Bateman said, "To determine whether additional production may be obtained from a reservoir, an oil and gas company needs a very detailed picture of what the reservoir looks like, a model of the production history from field startup to present and a prediction of the reservoir's potential in the future. Our skilled geoscience professionals, using leading-edge workstation technology and state-of- the-art software, can produce integrated geoscience studies that lay the foundation for the selection of the most appropriate reservoir management programs for our clients." Bateman also said, "The services we offer economically meet our customers' needs to undertake reservoir description studies, particularly in light of many down-sizing and cost reduction programs being implemented throughout the industry. We view our team as an extension of a client's technical staff. By sharing data and technology in partnership, we can provide cost-effective solutions to determine the best way for customers to stretch their human and geoscience resources." Halliburton Company is one of the world's largest diversified energy services, engineering, maintenance, and construction companies. Founded in 1919, Halliburton provides a broad range of energy services and products, industrial and marine engineering and construction services, and property and casualty insurance services. -0- 1/21/92 /CONTACT: Guy T. Marcus, vice president, investor relations of Halliburton, 214-978-2691/ (HAL) CO: Halliburton Company; Halliburton Reservoir Description Services ST: Texas IN: OIL SU: FC -- NY117 -- 2031 01/21/92 16:18 EST
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|Date:||Jan 21, 1992|
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