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Halliburton to Acquire 100% Stake of World's Leader of Smart Well Technology

Halliburton has entered into a definitive agreement with Shell Technology Ventures

US oil and gas contractor Halliburton is likely to buy 49 percent equity interest in WellDynamics B.V from Shell.

The parties have already entered into a definitive agreement, which is subject to receipt of necessary regulatory approvals.

Following completion of the transaction, Halliburton will own 100 percent of WellDynamics.

Founded in 2001, WellDynamics is the world's leading provider of intelligent well completion technology. WellDynamics' SmartWell technology has been successfully deployed in over 300 wells worldwide. WellDynamics is headquartered in The Hague, Netherlands, and has approximately 510 employees with principal offices in Houston, Texas, and Aberdeen, U.K.