HOUSTON-- October 27, 2022 -- SLB (NYSE: SLB) today announced it has entered into an agreement to acquire Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. 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 integration of Gyrodata’s innovative sensors and proprietary technologies within SLB’s drilling and logging suites will result in the most accurate and highly optimized well placement services in the industry,” said Jesus Lamas, president, Well Construction, SLB. “This will transform drilling technology designs while advancing SLB’s autonomous, self-steering capabilities. I am excited about welcoming the Gyrodata team into SLB’s Well Construction division.”

“After more than 42 years as an independent company, we are ecstatic about becoming a part of SLB,” said Robert Trainer, president and CEO, Gyrodata. “This combination will create important synergies between our technology platforms, bringing immediate and significant benefits for our customers. We look forward to accelerating the next step-change of this technology revolution as part of the world’s leading provider of technology and services to the energy industry.”

The transaction is subject to regulatory approvals and is expected to close towards the end of 2022.