Schlumberger acquires Novatek

Schlumberger has acquired Novatek Inc. and Novatek IP LLC, US-based companies that specialize in synthetic diamond technology primarily for the oil and gas industry.

The existing relationship between Schlumberger and Novatek has delivered industry technologies, such as the Schlumberger StingBlade conical diamond element bit, and has been an incubator of ideas that are being incorporated into Schlumberger’s newest drilling technology offerings. Building on this collaboration, the acquisition provides a new platform for Schlumberger to pursue its vision of continuously improving drilling performance for customers.  

“Novatek’s synthetic diamond manufacturing technology is already a key component of our drillbit offering,” said Khaled Al Mogharbel, president, Schlumberger Drilling Group. “With the addition of Novatek, we will enhance our research, engineering, and manufacturing capabilities, and will continue to work with our customers to accelerate field adoption of these innovative drilling technologies.”

David Hall, founder and president, Novatek added, “Since my father, Tracy Hall, synthesized the first manmade diamond 60 years ago, synthetic diamond technology has revolutionized the diamond cutting and drilling industries. Our new relationship with Schlumberger will help us to continue this legacy of innovative technology development.”

Novatek has a 60-year history of product development with a portfolio of more than 600 patents. Core development of synthetic diamond technology and other technologies will continue at the company’s lab in Provo, Utah, where most of the employees are based.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...