Houston, October 19, 2000
Weatherford International, Inc. announced today that it has invested in Wellogix, Inc., a leading provider of workflow and knowledge management solutions for the oil and gas industry. Weatherford also intends to use the Wellogix software as part of its ongoing development of better customer service through Internet technology.
Wellogix’ software will provide Weatherford with collaborative tools to create internal efficiencies, and will also serve as a component of Weatherford's e-commerce strategy to provide better communication and service to its clients.
The traditional method for specifying oilfield services involves considerable paperwork and phone calls, and can become hard to manage. The Wellogix suite of software products has been designed to alleviate much of this manual labor while providing service providers and operators with tools to improve internal business processes.
"Weatherford’s strength in oilfield services is well-known," said Zeke Zeringue, president and vice-chairman of Wellogix. "Having their support and access to their oilfield expertise will greatly enhance our ability to further improve our products, providing greater value to service providers and operators alike."
Weatherford has agreed to acquire class B non-voting common stock to allow Wellogix to maintain industry neutrality.
About Wellogix, Inc.
Wellogix was formed through the merger of WellBid, Inc. and eNersection, two leaders in workflow improvement and knowledge management in the oil and gas industry. The combined company now provides a single source for online tools and software infrastructure to streamline workflow, improve collaboration, expedite the inter-company exchange of enterprise data, and communicate complex engineered services via the Internet.
Wellogix is headquartered in Houston, Texas. For more information about Wellogix products or services, visit www.wellogix.com, e-mail info@wellogix.com, or call 877-493-5524.
About Weatherford
Houston-based Weatherford International, Inc. is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 10,000 people worldwide.
Contacts:
Don Galletly 713-693-4148
Inez Moriarty 281-940-1030
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027
713-693-4000