Halliburton Announces Multi-Chem Deal

Printer Friendly Version

In an effort to boost its offerings of chemical services, Halliburton, the world's second-largest provider of oilfield services, said today it will acquire closely held Multi-Chem Group LLC. Terms of the transaction, which is scheduled to close in the fourth quarter, were not disclosed.

Texas-based Halliburton (HAL) said in a statement that Multi-Chem has provided chemicals and services to over 30,000 producing oil and natural gas wells across North America.

Founded in 1993, Multi-Chem is a leading provider of oilfield production and completion chemicals and services that address production, processing and transportation challenges, according to the statement issued by Halliburton.

''Today's increasingly complicated reservoirs and their diverse, multi-phase flow regimes demand a comprehensive approach to production optimization,'' said Marc Edwards, senior vice president of Halliburton Completion and Production Division in the statement. ''Integrating fracture stimulation design with life-of-well chemistry solutions will enable our customers to optimize reservoir management and positively impact production decline curves.''

Schlumberger (SLB) is the world's largest provider of oilfield services.