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Friday, April 3, 2009
Release–M-I SWACO acquires production chemicals company CHEMTECH
M‐I SWACO has expanded its offering of production chemicals and related technologies in the United States with the acquisition of Broussard, Louisiana‐based CHEMTECH.
CHEMTECH supplies a complete range of oilfield production chemicals and supporting services. It has products in all major production treating application segments including emulsion control, corrosion inhibition, scale prevention, paraffin control, gas hydrate inhibition and solids dispersion.
CHEMTECH also has a fully customizable reporting software package called WELLTRACK* and a patented chemical injection pump system called the ECO‐PUMP*. These products, along with its expansive line of production chemicals, will integrate well with current MI SWACO Production Technologies product segment products and services.
This acquisition will allow M‐I SWACO to bring value‐added services to current its customers in the United States and widen their choice of production technology providers. In addition, the extensive supply chain, logistical network and experienced personnel provided by the MI SWACO infrastructure will expand the reach of CHEMTECH and provide accelerated opportunities for growth.
“The M‐I SWACO Production Technologies product segment has been operating internationally for many years, and we look forward to bringing this experience and expertise to our customers in the United States,” said M‐I SWACO President and CEO Chris Rivers. “M‐I SWACO has an unrivalled infrastructure in the U.S. oilfield industry and we expect this acquisition will allow us to offer our customers enhanced service and products for their production assets.”
MI SWACO, which is based in Houston, TX and jointly owned 60% by Smith International, Inc. (NYSE, PSE:Sii) and 40% by Schlumberger Limited (NYSE:SLB), is a leading provider of a wide range of products and engineering services designed to deliver Drilling Solutions, Environmental Solutions, Wellbore Productivity and Production Technologies. The company is strategically located in more than 70 countries.
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