The oilfield services giant Schlumberger Ltd. (SLB) has acquired Nexus Geosciences, Inc, a Houston-based provider of integrated seismic software and services for rapid imaging, modeling and interpretation.
Though the company has not provided any numbers regarding the deal, Nexus will be grouped under Schlumberger’s WesternGeco segment. WesternGeco provides worldwide reservoir imaging, monitoring, and development services and owns the world’s largest multi-client seismic library.
Nexus has developed proprietary technologies for fast imaging and modeling, enabling oil and gas companies to rapidly build, update and validate their velocity models and reduce uncertainties in the most complex geological environments.
Management believes the combination of Nexus’ expertise and WesternGeco advanced imaging solutions and global reach will allow Schlumberger to help customers face these challenges more effectively.
A number of significant acquisitions on the technological front in the past have accelerated the company’s growth. In 2008, the company had acquired Exploration Systems (IES) (a Germany-based supplier of advanced petroleum systems modeling software and services for the E&P industry) and Extreme Engineering Ltd (a Canada-based leading supplier of unmanned measurement-while-drilling – MWD – systems).
Schlumberger continues to benefit from its technology driven superior products and services. The company’s solid technology portfolio and worldwide infrastructure implies that Schlumberger is strongly positioned to capture growth opportunities as its customers begin to increase their investment. Since the beginning of last week, price of Schlumberger shares has been up 4.5% to $64.20 at Wednesday’s closing.
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