H&P's Acquisition Of MagVAR To Bring Shale Drilling Accuracy To New Level

Helmerich & Payne Inc. (NYSE: HP) said Dec. 8 it acquired Magnetic Variation Services LLC (MagVAR), a firm focused on enhancing the accuracy of directional drilling and wellbore optimization.

The Tulsa, Okla.-based company, also known as H&P, didn’t disclose the financial terms of the acquisition.

MagVAR was founded in 2010 by Stefan Maus, a senior scientist at the University of Colorado. Through comprehensive 3-D geomagnetic reference modeling, the company provides measurement while drilling (MWD) survey corrections by identifying and quantifying MWD tool measurement errors in real time.

Source: Daily Dose of ShaleDirectories.com News



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