Halliburton unit acquires oil software firm Petris

Acting through its Landmark Software and Services unit, US oilfield services provider Halliburton Company (NYSE:HAL) has bought Petris Technology Inc for an undisclosed amount.

Petris is headquartered in Houston, Texas and has been doing business since 1994. The company specialises in data management and integration solutions designed for use by oil and gas companies. Petris aims to help customers make the most of their infrastructure investment by providing them with information in any format, at any place and at any time.

The deal gives Halliburton ownership of the entire Petris portfolio, which includes the PetrisWINDS family of products. The suite contains solutions such as Recall Data Management, DataVera, Enterprise and DrillNET and Halliburton will make them available to its customers through its DecisionSpace portfolio. The latter has been developed to provide upstream operators with tools that facilitate collaboration and decision-making by easy access to multiple sources of specialist data.

As a result of this acquisition, Halliburton will be placed in a unique position to serve oil and gas producers. It will have the capabilities to provide customers with unparallelled access to technical information on reservoirs and wells, making mission-critical data available wherever and whenever clients needs it, the company said.

Gene Minnich, who serves as vice-president of Landmark Software and Services, stated that customers would have their entire body of scientific data in one place. This means that they will be able to make operational and economic decisions in less time without compromising on safety and accuracy, Minnich added.