eProduction Solutions, Inc. Announces Acquisition of Premier Instruments, Inc.
February 20, 2003, Kingwood, TX
eProduction Solutions (eP), leader in automation and optimization solutions for production oil and gas fields, announced today that it has acquired the assets of Premier Instruments, the makers of the Red Eye a multiphase metering system. This is a part of eP’s strategy to provide complete oil and gas field solutions for production management, automation, and optimization. This transaction closed on Friday, February 7, 2003. Terms of the transaction were not disclosed, but eP immediately accepted responsibility of the all assets of Premier Instruments Corporation.
eP Expands Strategy
The acquisition of Premier provides eP customers with multiphase flow rates for producing wells on a real time basis. Real-time flow measurement provides critical information for optimization for oil and gas wells.
Premier’s flagship product, Red Eye, uses a unique technology involving infrared light to determine the precise percentage of water to oil, even at extremely high water-cut levels. Dharmesh Mehta, president of eProduction Solutions, states, “When you consider accuracy, ease-of-use, and price, the Red Eye water-cut meter is unequalled in the industry. With Premier Instruments now a part of eP, we are able to offer our customers an unmatched set of control and optimization solutions.”
The merging of the Red Eye product line with eP’s existing, field-proven solutions will accelerate the company’s long-standing strategy to provide comprehensive total field automation and optimization solutions, including real-time monitoring, controlling, designing, and analysis of producing oil and gas wells and facilities.
John Levois, Red Eye product manager comments, “This is a great opportunity to expand the market of the Red Eye. eP has the products, solutions, and infrastructure to provide the production oil and gas market with a complete optimization solution.”
About eProduction Solutions, Inc.
Founded in 2001, eProduction Solutions, Inc., is the world’s leading production-operations automation and optimization company. The company provides solutions that help lower costs and increase production by delivering advanced products and services that foster innovative approaches to optimizing production. eP helps customers leverage technology to work better, faster, and smarter. For more information about the company, see www.ep-solutions.com.
About Premier Instruments
Premier Instruments, Inc. headquartered in Houston, Texas, is committed to innovation and usefulness in multiphase water cut gauges. Many oil companies world-wide are currently using Premier’s technology. For a information on products, visit www.premierinstruments.com.
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