Corelab buys Core Petrophysics (January 2001)

Core Laboratories has completed its acquisition of unconsolidated reservoir specialist Core Petrophysics.

Core Laboratories has acquired all of the outstanding shares of Houston-based Core Petrophysics, Inc. (CPI). The transaction was a share-for-share exchange, no other terms were released. CPI, which had 1999 revenues of approximately $5,000,000, is a technology leader in the petrophysical characterization of partially consolidated and unconsolidated reservoirs, which make up the majority of deepwater fields around the world.

Deepwater

The addition of CPI proprietary technologies and deepwater wellsite expertise will strengthen CoreLabís position in deepwater reservoir characterization. CoreLab is currently working on deepwater reservoir description and production enhancement projects in the Gulf of Mexico, offshore Brazil and offshore West Africa.

Multi-client

The multiclient Gulf of Mexico Deepwater Reservoir Study now contains over 150 wells with 34 participating companies. With the addition of CPI geologists, Core expects to continue to expand the Deepwater Study.ź

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