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HOUSTON - Oilfield service company Weatherford International Ltd. has acquired a Houston-based business that evaluates geologic formations at the well site to reduce risk and operating time.
| WFT | 12.95 |  -1.36 |
Weatherford acquired International Logging Inc., a surface logging, or "mud logging" firm that provides geologic evaluation and drilling-related services. The acquisition adds a new service to Weatherford's portfolio.
International Logging's technologies are designed to improve efficiency by supplying more reliable and accurate geological and drilling engineering information, Weatherford said.
Terms of the deal were not disclosed.
Mud logging examines and analyzes geological information in formation cuttings and drilling mud to determine if oil and gas are present as a well is drilled.
Shares of Weatherford International declined 41 cents to $36.15 in afternoon trading.
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