Sector News

Premier buys ConocoPhillips subsurface lab assets

February 13, 2017

Premier Oilfield Laboratories continues to grow with the acquisition of ConocoPhillips’ subsurface laboratory assets in Bartlesville, Okla., the company said Feb. 9.

The assets include specialized laboratory equipment, research scientists and workflows. The value of the transaction wasn’t disclosed.

Premier said the acquired assets will supplement the company’s existing operations in Houston, Aberdeen and Cairo and also offer a larger cross-section of technical solutions to optimize production from both conventional and unconventional oil and gas reservoirs.

The deal follows Premier’s acquisitions of MUD Geo-Chemical LLC in September and COREX UK Ltd. in December. The company’s most recent purchase expands Premier’s services to the global oil and gas industry, said Steve Cobb, Premier CEO.

“By coupling the information generated using these world-class laboratory systems with our engineering expertise and modelling capabilities, our team of technical experts can provide value-creating solutions to the most difficult reservoir and completions problems, such as optimal lateral wellbore placement and frack design,” Cobb said in a statement.

Source: E&P

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