Halliburton clicks on Knowledge Systems
Norwegian oil and gas sector investment group Hitechvision has sold
Texas-based Knowledge Systems, a supplier of specialist geopressure modeling
software, to US services giant Halliburton.
Under the deal, Halliburton’s Landmark unit, part of its drilling and
evaluation segment, will take over all business, assets and intellectual
property of the company, Hitechvision said in a statement.
It said Knowledge System’s geopressure and geomechanical modeling applications
would complement Halliburton’s existing technologies and services aimed at
ensuring wells are drilled optimally and economically.
Knowledge Systems was founded in 1984. HitecVision bought into the company in
2004. The company employs about 90 people in Sugar Land, Texas, in Perth,
Australia and in Guildford, UK.
“The success of Knowledge Systems is due to the outstanding support of our
customers and owners, in combination with the hard work and dedication of
our staff ” said founder and chairman Jim Bridges. “We are excited that this
acquisition by Landmark will create synergies that stand to improve drilling
efficiency and reduce drilling costs throughout the industry.”
06 May 2008 07:38 GMT
| last updated:
06 May 2008 07:38 GMT
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