Halliburton to acquire Shell's interest in WellDynamics

Halliburton has entered into a definitive agreement with Shell Technology Ventures Fund 1 B.V., to acquire its 49% equity interest in WellDynamics B.V., subject to regulatory approvals.

Offshore Staff

HOUSTON -- Halliburton has entered into a definitive agreement with Shell Technology Ventures Fund 1 B.V., to acquire its 49% equity interest in WellDynamics B.V., subject to regulatory approvals. Following completion of the transaction, Halliburton will own 100% of WellDynamics.

"Our clients continue to focus on increasing the productivity of their reservoirs while maximizing ultimate recovery," says David King, president of Halliburton's completion and production division.

"SmartWell technology is a key enabler for these objectives, particularly in complex reservoirs and those in deepwater where the technology minimizes the frequency of intervention. Halliburton will build on WellDynamics' leadership in SmartWell technology with enhanced reservoir monitoring and well completions technology."

06/11//2008

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