Geolog and Nabors

Source Company Press Release
Company Geolog International BV, Nabors Industries Ltd.
Tags Country: United States, M&A: Asset Deal, Deals, Segment: OFS News
Date April 14, 2020

Geolog International (“GEOLOG”), acting through its subsidiary, Geolog Americas Inc. has reached an agreement with Nabors Industries Ltd. ("Nabors") (NYSE: NBR) to acquire all of Nabors’ mudlogging assets in the USA (previously known as EPOCH).

GEOLOG has been present in the US market since 2014, having logged over 300 wells across conventional and unconventional basins both onshore as well as deep offshore Gulf of Mexico, focusing on its portfolio of advanced surface solutions to help characterize reservoirs, improve rig safety and reduce drilling time and costs. “We built GEOLOG into the largest independent and most technologically advanced surface solutions company of the world around our ability to deploy highly trained and experienced personnel with the most advanced technologies”, commented Richard Calleri, Chief Executive Officer of GEOLOG. “We are therefore very excited to have this group of greatly experienced and skilled engineers join GEOLOG, bringing with them a wealth of knowledge and experience across multiple US basins and geologies.”

Thirty-five years of continuous R&D has allowed GEOLOG to develop cost-effective alternative solutions to expensive downhole measurement tools, thereby differentiating itself from traditional mud logging service providers. GEOLOG’s advanced formation evaluation, drilling and geochemistry services are particularly sought out during periods of crisis, like the one we are undergoing today. By utilizing GEOLOG’s in or near real-time rigsite applications, operators can mitigate risk, reduce costs and optimize completions.

Thanks to its independent and privately owned nature, GEOLOG is able to deploy capital and invest at all points of the business cycle. This acquisition, and its timing, underline the long-term growth strategy of GEOLOG for the US market, a natural target for GEOLOG’s proprietary drilling solutions.

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