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Halliburton Completes 100 Percent Acquisition of WellDynamics

Halliburton Completes 100 Percent Acquisition of WellDynamics

By admin – Posted on July 3rd, 2008

HOUSTON, July 1, 2008 — Halliburton (NYSE: HAL) announced today that it has closed the previously announced acquisition of the 49 percent equity of Shell Technology Ventures Fund 1 B.V. in WellDynamics B.V. With this transaction complete, Halliburton owns 100 percent of WellDynamics.

David King, president of Halliburton’s Completion and Production Division stated: “Combining WellDynamics’ leading market and technology position with Halliburton’s robust well completions and reservoir monitoring portfolio provides us significant competitive advantage in delivering increased reservoir productivity and maximized ultimate recovery to our clients.”

Founded in 2001, WellDynamics is the world’s leading provider of intelligent well completion technology. WellDynamics has an extensive track record of delivering reliable products, understanding the unique demands of customer applications, and developing innovative, fit-for-purpose solutions. WellDynamics’ award-winning SmartWell® technology has been successfully deployed in over 300 wells worldwide. Its product offering consists of a comprehensive suite of intelligent completion equipment and services, including downhole flow control devices, downhole permanent monitoring equipment, fiber optic sensors, and surface data acquisition and automated control systems.


Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With more than 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company’s Web site at

Shell Technology Ventures Fund 1 B.V. (the “Fund”), managed by Kenda Capital B.V. (“Kenda”), is a unique large scale investment fund focused at reducing the cost of energy by accelerating the development and deployment of new technologies. Kenda and the Fund have a solid energy sector expertise, fostered through a unique technology relationship with the Shell Group. Major investors in the Fund are the Royal Dutch Shell Group, Coller Capital and the Abu Dhabi Investment Authority.

Source: Halliburton

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