Weatherford acquires Reservoir Laboratories

Weatherford International Ltd. has acquired Reservoir Laboratories AS, a player in the core and reservoir fluid analysis sector of the oil and gas industry.

Offshore staff

HOUSTON -- Weatherford International Ltd. has acquired Reservoir Laboratories AS, a player in the core and reservoir fluid analysis sector of the oil and gas industry.

ResLab provides reservoir laboratory services and core analysis testing in the 10 locations it operates around the world, primarily in the Eastern Hemisphere, but including Mexico and Brazil.

The ResLab acquisition represents Weatherford's most recent addition to the company's newly formed core evaluation services expertise, which provides comprehensive analytical services to the oil and gas industries.

Prior acquisitions included OMNI Laboratories, Hycal Energy Research Labs, which provides
formation damage and reservoir optimization expertise, ICORA Geosciences, which carries out characterization of coals and other unconventional gas reservoirs, and Humble Geochemical Services, which performs hydrocarbon geochemistry.

"Merging these complementary companies positions Weatherford as a global leader in core laboratory services," says Chris Bechtel, business unit vice president, core evaluation services for Weatherford. "We are now uniquely able to cross-pollinate technologies in-house, using the best testing available."

"Weatherford's global scope and customer base will maximize ResLab's opportunities for future growth," says Odd Hjelmeland, founder and president of ResLab. "We are confident that the combined entity will greatly benefit our clients around the world."

6/28/2007

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