SLB (NYSE: SLB) today announced that it has completed the acquisition of Gyrodata Incorporated, an international company specializing in wellbore gyroscope positioning and survey technology. The transaction will incorporate Gyrodata’s well surveying and location technologies into SLB’s Well Construction business, bringing customers innovative drilling solutions.
This combination will improve well quality and reduce drilling risk to unlock even the most remote and complex reservoirs. The integration of three-axis solid-state gyroscope measurements with SLB’s latest technological innovations will help ensure tighter trajectory control, reduce data acquisition time and improve the decision-making process, resulting in greater overall drilling efficiency.
“I am excited about this historic moment that will bring innovative solutions to the SLB Well Construction division and our industry,” said Jesus Lamas, president of Well Construction, SLB. “The technology-driven acquisition of Gyrodata is in line with SLB’s strategy to elevate operational performance and improve efficiency for our customers. Combined with our Neuro autonomous solutions, the Gyrodata acquisition will transform drilling technology projects by leveraging downhole and surface automation to take well construction performance and operations efficiency to new levels. ”
About SLB
SLB (NYSE: SLB) is an international technology company that drives energy innovation for a balanced planet. With a worldwide presence in more than 100 countries and employees representing almost twice as many nationalities, we work every day to innovate oil and gas, deliver digital scaling, decarbonize industries as well as develop and scale new energy systems that accelerate the energy transition. Learn more at slb.com.
About Gyrodata
Gyrodata is one of the world’s leading service providers to the global energy industry, with unrivaled expertise in gyroscopic surveying technologies, as well as well location and characterization. Gyrodata’s unique products and services enable its customers to maximize hydrocarbon recovery and optimize the lifecycle cost of an asset. For more information, visit www.gyrodata.com.
Precautionary Statement on Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements about future expectations, beliefs, plans, objectives, financial condition, assumptions, future events or performance of the parties are forward-looking statements within the meaning of the federal securities laws. These statements are subject to, without limitation, the ability to obtain the expected benefits of the transaction and other risk factors contained in SLB’s most recent Forms 10-K and other filings with the SEC available on the SEC’s website (). Actual results could differ materially from those expected, estimated or projected. Forward-looking statements speak only as of the date made, and the parties undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise.
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The original language text of this announcement is the official authorized version. Translations are provided as a convenience only and must refer to the original language text, which is the only version of the text that is legally binding.
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Moira Duff – Director of External Communications
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Ndubuisi Maduemezia – Investor Relations Vice President
Joy V. Domingo – Investor Relations Officer
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Source: BUSINESS WIRE
