Houston, April 07, 1999
Weatherford International, Inc. (NYSE: WFT) today announced the acquisition of ECD Northwest from Clearwater, Inc. ECD Northwest is a leading provider of underbalanced drilling services with a full range of compressible fluid drilling systems, including air/gas, mist, aerated fluid and foam. ECD owns patented foam technology with proprietary chemistry for optimal shale and corrosion control in underbalanced modes. ECD also markets hydraulic software for multiphase flow and data acquisition capabilities.
The ECD Northwest acquisition expands Weatherford’s capabilities in underbalanced drilling. It complements Weatherford’s rotating blowout preventers and high temperature motor technologies to offer a complete underbalanced system. The acquisition is also synergistic with Weatherford’s growing capabilities and tools in re-entry, thru-tubing and completion systems, more particularly, liner hangers and inflatable packer systems.
Houston-based Weatherford International, Inc. is one of the world’s largest providers of engineered products and services to the drilling and production segments of the oil and gas industry.
Clearwater, Inc. is a Pittsburgh, PA.-based provider of innovative chemistries, engineering and natural gas dehydration solutions to improve the productivity of new and existing oil and gas wells.
Contacts:
Don Galletly (713) 693-4148
Christine McGee (713) 693-4362
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027
713-693-4000