Smith acquires At Balance interest

Offshore staff

HOUSTON-- At Balance and its sole shareholder, Shell Technology Ventures Fund 1 B.V., have agreed to sell a minority interest in At Balance to Smith International Inc. At Balance says the transaction should close during 4Q 2007.

The agreement will open At Balance access to Smith's pressure equipment and services.

"This transaction will position Smith with a complete MPD (managed pressure drilling) system to control the pressure profile throughout the wellbore," says Bryan Dudman, president of Smith Services. "We look forward to jointly providing automated pressure drilling services with At Balance and to delivering real-time pressure control to customers facing these drilling challenges around the world."

"At Balance has helped oil companies extend the life of mature fields and reduce drilling cost and risk with Automated Pressure Drilling services," says John Samuell, president and CEO of At Balance. "Working with Smith we will competitively expand and strengthen our worldwide support for automated pressure control to expand and strengthen oil companies' drilling capabilities."

11/15/07