US oil service company Halliburton Co. has sold its surface well test and subsea test tree product and service lines within its production optimization division to a branch of First Reserve Corp., Power Well Service Holdings LLC, for $128.5 million.
Halliburton said it will continue to provide well testing services, but will refocus investments on downhole technologies and project integration..
Well testing is used in the exploration and development of hydrocarbons to determine reserve and production characteristics. These services are provided in more than 20 countries to major national and international oil companies.
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Halliburton Provides Testing Service Lines
Halliburton said it will continue to provide well testing services
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