On 5 June 2023, Halliburton announced that it has acquired 100% of the shares in Resoptima AS (“Resoptima”), the leading Norwegian technology company specialising in data-driven reservoir management solutions.
The strategic acquisition will integrate the industry-leading reservoir modelling and predictive analytics of Resoptima into the Halliburton Landmark DecisionSpace 365 suite.
Alpha Corporate Finance has acted as financial advisor to Resoptima and the shareholders in the transaction.
Resoptima’s software helps increase reservoir recovery factors and deliver cost savings on reservoir intervention projects by preventing costly mistakes like underperforming well drilling and unnecessary injection volumes.
Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting, said, “The combination of Resoptima’s best-in-class reservoir engineering and science with Landmark’s leadership in geology and drilling allows Halliburton to offer unique and innovative solutions that enhance exploration success and reservoir recovery.”
“Oil and gas remain integral to global energy supply,” said Atila Mellilo, the former CEO of Resoptima who joins the Halliburton Landmark leadership team. “To ensure the industry continues to evolve, we must focus on technologies that promote highly efficient production processes. The vision we share with Halliburton Landmark of a unified ensemble modeling approach will allow us to drive innovation, deliver increasing value to our customers, and expand our market reach."
Per Øyvind Seljebotn, senior vice president, Exploration and Reservoir Development at Aker BP, said, “Resoptima’s solutions have become an integral component of Aker BP’s digitalization portfolio. As a long-term customer and investor in Resoptima, we look forward to the benefits of this joint technology."
Halliburton (NYSE:HAL) is one of the world's leading providers of products and services to the energy industry, helping energy companies maximize value throughout the lifecycle of the reservoir