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Halliburton's NUMAR Corporation To Become Research And Engineering Center Of Excellence
DALLAS, Texas (September 1, 1999) - NUMAR Corporation, a wholly owned subsidiary of Halliburton Company (NYSE: HAL), announced today it is restructuring as a Research and Engineering Excellence Center. NUMAR will continue to provide advanced research and applied engineering in NMR technology to Halliburton's electric line logging, measurement-while-drilling, and completion services from its center in Malvern, Pennsylvania. NUMAR's manufacturing facility will relocate to Halliburton's newly consolidated manufacturing facility in Houston, Texas, effective Nov. 1,1999.
"The technology race is on in the oilfield service industry," said Dr. Manfred Prammer, President of NUMAR, "and only the largest service providers have the technological and financial breadth to win it." Dr. Prammer will lead approximately 45 scientists, engineers and technical support staff at the Research and Engineering Excellence Center. He has more than 16 years of experience in NUMAR's core business, nuclear magnetic resonance ("NMR"), and holds five U.S. patents for the design of NUMAR's MRIL C, MRIL C/TP and MRIL PRIME logging tools.
"It is of critical importance to Halliburton to maintain industry leadership in the area of nuclear magnetic resonance," said B. N. Murali, Vice President of Technology for Halliburton.
NUMAR founder, Dr. Melvin N. Miller, who has served as President, CEO and Chairman of the Board said, "Based on my confidence in the NUMAR team, I anticipate NUMAR will continue to be the technical leader, and the stage is set for further advances in petrophysical applications of NMR." Dr. Miller will serve as Senior Executive Advisor to Halliburton Energy Services.
NUMAR Corporation is the world leader in employing NMR technology for oil and gas exploration and development. NUMAR's Magnetic Resonance Imaging Logging (MRIL®) service accurately measures several key factors that influence the ability of a well to produce commercial quantities of oil or gas. More information can be found on NUMAR's homepage at http://www.halliburton.com/numar.
Halliburton Company, founded in 1919, is the world's leading energy services, engineering, construction, maintenance, and energy equipment company. Its combined revenues for 1998 totaled $17 billion.
Contact
Zelma Branch
Halliburton Company
(p) 713.676.7067
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