Schlumberger Acquires Extreme Engineering

Couples Unmanned Measurement-While-Drilling Technology to Rotary-Steerable Systems for Cost-Efficient Operations and Improved Well Performance
HOUSTON, June 2008 - Schlumberger announced today that it has acquired the business of Extreme Engineering Limited, a Calgary-based supplier of unmanned measurement-while-drilling (MWD) systems from its founders and investors that include the Shell Technology Ventures Fund 1 BV managed by Kenda Capital BV.

“The combination of Extreme XPulse and XEM technologies with Schlumberger PowerDrive* rotary-steerable drilling systems will provide operators in North America and Canada with advanced technologies that can bring heightened efficiency to land operations where improved well performance must be enabled by cost-effective services,” said Jean-Francois Poupeau, president of Schlumberger Drilling & Measurements. Poupeau added, “During 2009 the geographical focus will widen to expand deployment of Extreme technologies to regions outside North America.”

Extreme Engineering, which will continue to operate under its own brand, maintains major operational bases in Calgary, Alberta, Denver, Colorado and Fort Worth, Texas, backed by engineering and manufacturing facilities in Calgary. The company employs 68 people.