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`NEWS
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`Schlumberger Acquires Stake in Packers Plus
`
`Schlumberger
`
`| Tuesday, November 22, 2005
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`Schlumberger has acquired a minority share in Packers Plus Energy Services, a
`Canadian-based completions company. In addition, Schlumberger has exclusive rights to
`deploy and market Packers Plus technology worldwide, excluding North America.
`"With the push to increase production from maturing fields, the market for our multistage
`fracturing and stimulation services is expanding rapidly," said Mark Corrigan, president,
`Well Services, Schlumberger. "The Packers Plus technology will enable Schlumberger to
`tailor stage treatment designs to yield better production results for our customers while
`also making significant improvements to operational efficiencies.
`
`"Packers Plus has established an industry leading reputation with their systems, which
`when combined with our services, offers a powerful solution. We see exciting potential for
`the combination around the globe and in particular in the carbonate reservoirs of the
`Middle East."
`
`As a result of this agreement, Schlumberger is introducing two new premium services to
`enable efficient stimulation of multiple zones in deviated and horizontal wells.
`
`The StageFRAC* multistage fracturing service for high-angle and horizontal wells uses
`mechanical diversion techniques developed by Packers Plus to enable proppant and acid
`fracturing of up to eight zones in a single day, compared to many days or even weeks
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`using traditional approaches. The RapidSTIM* multistage stimulation service using fluids
`and packers also incorporates Packers Plus technologies to bring the same efficiencies
`to matrix acidizing.
`
`Packers Plus technologies have been successfully deployed in more than 200 well
`treatments in North America, resulting in production that is two to three times higher than
`in offset wells.
`
`"While working with Schlumberger in North America, we recognized that there were great
`synergies to be gained in establishing this agreement to deliver our technologies through
`the Schlumberger service organization," said Dan Themig, president, Packers Plus. "By
`teaming with Schlumberger, our tools will be used in a broader range of reservoir
`environments, and we will gain valuable input to our ongoing development processes."
`
`StageFRAC and RapidSTIM are part of the Schlumberger well stimulation family of
`services including hydraulic fracturing and matrix stimulation.
`
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`RELATED COMPANIES
`
`Company: Schlumberger
`Manages 3 Offshore Rigs
`
` - Schlumberger Sees 2% Fourth-Quarter Profit Hit From Iraq shutdown (Dec 3)
` - Schlumberger to Restart Iraq Rumaila Oil Operations, Official Says (Nov 14)
` - Schlumberger Opens New Reservoir Laboratory in AU (Nov 12)
`Company: Packers Plus
`
` - Packers Plus, Senex Complete High Pressure Vertical Well in AU (Jun 11)
` - Packers Plus Achieves Major Milestone with 1000th Installation (Dec 22)
` - Schlumberger Acquires Stake in Packers Plus (Nov 22)
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