Weatherford (NYSE: WFT) announced that newly acquired Edinburgh Petroleum Services (EPS) will become a part of Weatherford's Production Optimization company, eProduction Solutions, Inc. (eP).
eP Expands Strategy
eP will incorporate EPS's AIM-GAIN-SUSTAIN process into its Production Optimization Solution. With this addition, eP's Production Optimization solution includes automation, SCADA communications, well-site intelligence, desktop intelligence, data management, engineering analysis, financial analysis, engineering consulting, and training for production operations. The merger will enable companies around the globe do comprehensive real-time optimization of their operations with tools and personnel from one company.
"With the addition EPS's experience and products, we will be able to provide comprehensive real-time optimization solutions for our customers. No other company has the quality and breadth that eP has," said eP President, Dharmesh Mehta.
"Combining the solutions from the two companies provides a comprehensive, one-company solution to customers. There has never been a solution for well automation, asset management, and overall field optimization, like this," declared Laurence Ormerod, EPS Managing Director.
EPS products will retain their identity and will be collectively known as "EPS Products." EPS employees will be eP employees and continue sales, service, development, and maintenance of EPS Products.
Founded in 2001, eProduction Solutions, Inc., a Weatherford company, 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.
Weatherford (www.weatherford.com) is one of the largest global providers of innovative technical solutions, technology, and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in 108 countries and employs approximately 17,000 people worldwide.
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