Major oilfield service provider Halliburton Co. (HAL) announced that it has acquired Canadian software services provider The Permedia Research Group. The financial terms of the transaction were not disclosed.
 
Ottawa, Canada-based Permedia’s tools and expertise allow energy companies to better assess the risk and costs of developing deepwater, sub-salt and other unconventional resource plays. It specializes in petroleum systems modeling software and services that includes petroleum basin modeling, petroleum migration, reservoir fluid mixing, reservoir filling and production simulators.
 
The Permedia deal is part of Halliburton’s long-term strategic plan to deliver integrated and differentiated basin-to-reservoir scale solutions, apart from providing the customers with a better understanding of hydrocarbon generation, migration and trapping mechanisms.
 
Post merger, Permedia will be rolled into Halliburton’s Landmark Software and Services business line. Together with Halliburton’s leadership in deepwater exploration and unconventional resource plays, Permedia’s offerings will help the clients to significantly improve their understanding of hydrocarbon potential and ultimately enhance their exploration and production success.
 
Houston, Texas-based Halliburton, the world’s second-largest oil services firm after Schlumberger Ltd. (SLB), offers a variety of equipment, maintenance, and engineering and construction services to the energy, industrial, and government sectors.
 
Halliburton currently retains a Zacks #3 Rank (short-term ‘Hold’ rating).

 
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