“Geoservices is a prominent oilfield service company in the upstream sector, and has provided well testing services for almost 25 years,” said PowerWell Services CEO David Reamer.

With this acquisition, PowerWell Services increases its revenue base by nearly 25%, adding all operating assets and employees associated with Geoservices’ day-to-day well testing business.

“This acquisition gives PowerWell access to highly expert well-testing personnel and capabilities in new market segments and expands our presence with key customers,” Reamer said.

“Geoservices’ production-oriented well testing capabilities not only complements our existing exploration-oriented operations, but also our customer base and geographic reach.”

Geoservices CEO Bruno Burban said divesting its well-testing business would let his company focus on its core business activities such as mud logging, well intervention, and field surveillance, and to invest in other key areas where it saw opportunities for growth.

"In addition, both companies have an opportunity to strengthen our R&D efforts and positioning in our segments," Burban said.