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Vol. 15, No. 38 Week of September 19, 2010
Providing coverage of Alaska and northern Canada's oil and gas industry

Arctic Directory: Schlumberger acquires Geoservices from Astorg

Schlumberger said March 24 that it has acquired Geoservices, a privately owned French oilfield services company specializing in mud logging, slickline and production surveillance operations. The total value of the transaction, including debt, is $1,070 million. Geoservices, founded in 1958, employs approximately 5,000 people and is active in more than 50 countries worldwide. The company is the leading mud logging company, and has invested heavily in the development of new technology for exploration and appraisal well activities, particularly in the emerging deepwater market. “The addition of mud logging technology to the Schlumberger portfolio is an important step in the development of higher-performance drilling systems,” said Andrew Gould, chairman and CEO, Schlumberger Ltd. “The combination of Schlumberger real-time downhole formation sampling measurements with Geoservices’ drilling mud analysis will help customers better identify and react to drilling hazards, while the combination of mud logging with Schlumberger formation evaluation measurements will bring more complete understanding of rock lithology and fluid content.”



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