HOUSTON, Aug. 7 /PRNewswire/ -- Weatherford International, Inc. (NYSE: WFT) today announced that the company has acquired the artificial lift assets of Axelson and Guiberson Well Service from Halliburton Company.
Axelson is a recognized industry leader in the design, manufacturing and deployment of downhole reciprocating rod lift systems aiding oilwell production worldwide. Guiberson Well Service has focused on the engineering, application and deployment of hydraulic lifting systems for oil wells. Guiberson Well Service also offers products that support well intervention activities for artificially lifted wells.
The acquisition complements the geographic expansion and product line offerings of Weatherford Artificial Lift Systems Division. Both Axelson and Guiberson bring decades of global market presence and experience plus unique artificial lift technologies that will strengthen Weatherford's global leadership position. These include:
Downhole Water Separation and Reinjection Utilizing Reciprocating Lift Systems
Large Bore Circle "A" Pumping System for High Production Rates
High Pressure Flow Control Unions
Elastomeric products for use in establishing production through a technique called "swabbing".
Weatherford is focused on developing and deploying intelligent artificial lift systems that will improve overall lifting costs, optimize reservoir flow and ultimate recovery of oil and gas for its clients.
Houston-based Weatherford International, Inc. (http://www.weatherford.com ) 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 more than 60 countries and employs approximately 11,500 people worldwide.
SOURCE Weatherford International, Inc.
CONTACT: Don Galletly of Weatherford International, Inc., +1-713-693-4148/