Schlumberger acquires Meta Downhole, moves closer to merger with Cameron

Schlumberger by Aaron Fulkerson
Source: Flickr by Aaron Fulkerson

Schlumberger, world’s No.1 in oilfield services, continues its shopping spree amid low oil and gas prices. Last week, the oilfield giant announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company. It also issued a joint statement with Cameron International Corporation informing the the proposed merger of the two companies received clearance from Chinese Ministry of Commerce. The merger was cleared without any conditions leading the way to close the transaction on 1st April 2016.

The purchase of Meta Downhole Limited by Schlumberger will add innovative downhole technology to Schlumberger’s existing suite of solutions. Headquartered in Aberdeen, Meta offers technology and expertise to provide downhole metal-to-metal isolation solutions in well integrity applications.

“With Meta’s unique proven technologies, we will take a quantum leap forward in advancing our downhole completions technology offering,” said Olivier Le Peuch, president, Completions, Schlumberger. “When combined with their metal-to-metal isolation expertise and operational track record, we can offer our customers reliable and flexible solutions to address downhole isolation challenges.”

The company’s Metalmorphology technology uses established principles to shape metal downhole that reliably conforms to the geometry of the wellbore casing or liner, delivering permanent metal-to-metal isolation. Once implemented, operators have a gas-tight, axial load-bearing and compliant life-of-well solution.

Meta technology can be deployed in a wide variety of applications to improve structural and casing integrity, seal tie-backs in new wells, isolate selected zones, facilitate slot recovery or assure plug-and-abandonment integrity.

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