WesternGeco
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| WesternGeco | |
|---|---|
| Type | Owned by Schlumberger |
| Founded | 1933 (in 2000, company took on current name) |
| Headquarters | Primary offices in Gatwick, West Sussex, UK; Houston, Texas, USA; and Kuala Lumpur, Malaysia |
| Key people | Dalton Boutte: President |
| Industry | Oilfield services |
| Products | Seismic Data Acquisition for both land and marine, Data Processing and Electromagnetics homepage = www.westerngeco.com |
| Revenue | US$2.963 billion (2007) |
WesternGeco is the world's largest seismic contracting company. It is a combination of the former Geco-Prakla and Western Geophysical. The company is owned by international oilfield services corporation Schlumberger Limited.
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[edit] Business
WesternGeco, a member of Schlumberger family, is the world's largest geophysical services company, providing comprehensive worldwide reservoir imaging, monitoring, and development services, with the most extensive geophysical survey crews and data processing centers in the industry, as well as the world's largest multiclient data library. Services range from 3D and time-lapse (4D) seismic surveys to multicomponent surveys for delineating prospects and reservoir management as well as electromagnetic surveys.
The seismic data collected by the company are used by geophysicists at oil companies to evaluate the potential for hydrocarbon production in new areas, to determine new well locations in existing fields, or to monitor the production of hydrocarbons from current wells. The revenues of the company, therefore, are closely tied to worldwide exploration and production activity, but the company does not itself make drilling decisions or otherwise produce hydrocarbons.
[edit] History
WesternGeco was formed by the merger in 2000 of two of the world's largest seismic contractors, Western Geophysical and Geco-Prakla. Baker Hughes, which then owned Western, struck a deal with Schlumberger, owners of Geco-Prakla, in which Schlumberger paid cash for a 70% stake in a joint venture of the combined companies.[1]. The operating results of WesternGeco, however, were found in the financial reports of both Baker Hughes and Schlumberger. Effective May 2006, Schlumberger bought out Baker Hughes' 30% stake for a reported $2.4 billion, thus making WesternGeco one of its subsidiaries.[2] WesternGeco works around the world with the headquarter located in Gatwick, England.
