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.