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Weatherford Sells Lab Business To Houston Pe Firm - Houston Chronicle

by chron.com posted 11months ago 46 views
Weatherford International said Monday it will sell its laboratory services business for $205 million to a private equity group led by Houston's CSL Capital Management. The anticipated sale is part of financially struggling Weatherford's ongoing effort to reduce its debt and make the global oilfield services firm more competitive again. The deal includes the sale of Weatherford's laboratory and geological analysis business, which studies oil and gas reservoirs and wells. Weatherford said it will maintain a close, collaborative relationship with CSL Capital for research and geological services.

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