Helmerich & Payne, Inc. headquartered in Tulsa, Oklahoma, has acquired Magnetic Variation Services, LLC (MagVAR), an business chief in enhancing the accuracy of directional drilling and wellbore optimization.
Through complete 3D geomagnetic reference modeling, MagVAR offers measurement whereas drilling (MWD) survey corrections by figuring out and quantifying MWD software measurement errors in real-time, drastically bettering directional drilling efficiency and wellbore placement. MagVAR expertise has been efficiently deployed in each onshore and offshore fields in North America, South America, Europe, Africa, Australia and Asia. Founded in 2010, MagVAR will keep its headquarters in Westminster, Colorado.
John Lindsay, Helmerich & Payne, Inc.’s President and CEO, acknowledged, “As the business continues to drill longer lateral wellbores and unconventional drilling strikes into the event stage, we imagine correct properly placement turns into more and more vital with a purpose to maximize discipline economics. MagVAR’s expertise helps obtain this and our acquisition of the corporate displays our persevering with want to offer performance-driven drilling companies and develop our Family of Solutions. Our funding in MagVAR underscores H&P’s dedication to offering the newest worth creating expertise to our prospects whatever the drilling contractor.
“Adding MagVAR’s functionality to MOTIVE’s distinctive directional drilling expertise generates a robust software program platform that creates a compelling worth alternative for E&P corporations. As a part of H&P, we imagine an official partnership with MagVAR creates a singular and fascinating service providing that brings directional drilling accuracy to a brand new stage within the oil and fuel business.”
Dr. Stefan Maus, MagVAR’s founder and CEO, acknowledged, “Joining forces with H&P and MOTIVE means our expertise may have even larger potential to cut back positional uncertainty within the drilling course of. This is an thrilling improvement in addressing the vital want to realize financial worth in shale and tight oil performs.”
Helmerich & Payne, Inc. is an business chief in contract drilling with land and offshore drilling operations all over the world, together with 388 land rigs. (Source and picture: Helmerich & Payne – Driller’s console on H&P drilling rig)
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