SLB, a global technology company that drives energy innovation, has announced it has entered an agreement to acquire Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. Akin Gump advised SLB in the transaction.
The transaction will integrate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions. This combination will improve wellbore quality and reduce drilling risk to unlock even the most remote and complex reservoirs. Integrating three-axis solid state gyro measurements with the latest SLB technological innovations will help ensure tighter trajectory control, reduce data acquisition time and improve the decision-making process—resulting in greater overall drilling efficiency.
The transaction is subject to regulatory approvals and is expected to close towards the end of 2022.
The Akin Gump deal team was led by corporate partner Rob Shearer and included corporate associates Jack Polisini, Courtney Beloin and Grace Seidl; international trade partners Christian Davis and Alexis Guinan; environment and natural resources practice head David Quigley, senior counsel Andrew Oelz; labor and employment partners Brian Patterson, Rolf Zaiss, counsel Aaron Farovitch and associate Brendan Chisholm; antitrust partners Haidee Schwartz and Davina Garrod; real estate senior counsel Richard Frank, practice attorneys Stuart Graves and Wanda Gage; tax partner Julia Pashin, associate Aaron Vera; intellectual property partner Cono Carrano, senior counsel David Lee, associate Hannah Price; and privacy partner Natasha Kohne and associate Tina Jeffcoat.
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