Ennis Daily News

Halliburton buys data management company

HOUSTON (AP) — Halliburton Co. said Thursday that it has acquired a company that will allow it to provide more technical data about wells and reservoirs to its customers in the energy industry.

Halliburton’s unit, Landmark Software and Services, purchased Petris Technology. Financial terms of the deal weren’t disclosed.

Halliburton, which helps companies analyze oil and gas deposits, said the deal will allow it to provide a wealth of technical data that will let producers make drilling decisions faster, more accurately and more cheaply.

Besides analyzing the deposits, Halliburton also rents specialized equipment for drilling and maintaining underwater wells to oil and gas companies. Halliburton also is a major provider of hydraulic fracturing, or “fracking,” services that unlock oil and natural gas from underground shale deposits.

Its shares fell 67 cents, or 2 percent, to $32.74 in afternoon trading. They are still up 25 percent from a 52-week low of $26.28 set in late June.

Post to Twitter



Posted by on Aug 2 2012. Filed under State news. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments are closed

Featured Links

    Search Archive

    Search by Date
    Search by Category
    Search with Google
    Log in


    Copyright: All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Ennis Daily News content, including by framing or similar means, is expressly prohibited without the prior written consent of Ennis Daily News. Ennis Daily News and its logo are registered trademarks or trademarks of the Ellis County Newspapers, Inc.

    © Ellis County Newspapers, Inc. 2014