Halliburton Divests PathFinder LWD Business
Wednesday, August 25, 1999
Halliburton Company and W-H Energy Services, Inc., jointly announced Halliburton has sold its logging-while-drilling (LWD) and related measurement-while-drilling (MWD) business known as PathFinder to W-H. The sale also included certain directional drilling assets in the North Sea. Consideration paid to complete the sale was not disclosed by Halliburton and W-H.
Halliburton has completed the sale of the business in order to comply with the consent decree the company entered into with the U.S. Department of Justice on September 29, 1998 to conclude antitrust review of Halliburton's 1998 merger with Dresser Industries, Inc.
Halliburton and W-H will cooperate in an orderly transition of the PathFinder business to W-H. Halliburton will continue to provide separate LWD services through its Sperry Sun business unit, which was acquired as part of the merger with Dresser. In addition, Halliburton will continue to provide sonic LWD services using its existing technologies, which it will share with PathFinder.