Schlumberger Buying Secure Oil Tools

Schlumberger Limited has agreed to purchase from Stellarton Corp., Calgary, Alberta, all of the worldwide assets and business of their Secure Oil Tools division. Secure Oil Tools is an oil and gas service company offering advanced products in the areas of enhanced production technology (primarily plunger lift), multilateral production systems, sand filters (MeshRite), and production and thermal tools.

Rene Huck, President, Reservoir Development, Schlumberger Oilfield Services, stated, "Secure Oil Tools enhances Schlumberger's position in the rapidly expanding market for multilateral and other advanced completion systems designed to improve reservoir recovery."