Schlumberger, Liquid Robotics in JV - Analyst Blog
25 Junho 2012 - 10:30AM
Zacks
The world’s largest oilfield
services provider, Schlumberger Limited (SLB) and
Liquid Robotics, Inc, the manufacturer of automated technology for
gauging ocean data, have come together to form a 50:50 joint
venture (JV) — Liquid Robotics Oil & Gas.
The joint venture intends to merge
the Wave Glider technology of Liquid Robotics with oil and gas
expertise and industry knowledge of Schlumberger to deploy more of
the start-up's maritime robots for the oil and gas industry. Wave
Gliders, which functions in remote parts of the ocean, is equipped
to quantify things such as fish population and oil spills. It is
also the world’s first wave-powered, autonomous marine vehicle.
Sunnyvale, California-based Liquid
Robotics will supply fleets of Wave Gliders jointly with key
engineering, piloting and maintenance know-how. The joint venture
will hold sole distributorship rights of Wave Glider products and
services to global oil and gas consumers.
Schlumberger management is
particularly thrilled about the capabilities offered by the
exclusive Wave Glider platform in respect of seismic, subsea and
environmental monitoring to the offshore exploration and production
areas.
Wave Gliders is capable of
operating offshore for about a year devoid of any crew, fuel or a
dedicated support vessel in course of their undertaking and thus
provide a game-changing competency to offshore operators. It has
been widely used by scientific, defense as well as industrial
patrons to achieve significant insights into the marine
environment.
Liquid Robotics received a funding
of $20 million from Vantage Point Capital Partners together with an
investment $2 million from Schlumberger, a year prior to the
formation of the Houston-based joint venture.
Schlumberger is a leading oilfield
services company, providing technology, project management and
information services to the global oil and gas industry. The
company supplies technology, project management and information
solutions that optimize customers performance in the oil and gas
industry.
Schlumberger, which ranks ahead of
Halliburton Company (HAL) as the biggest member of
the oilfield services contingent, holds a Zacks #4 Rank, which is
equivalent to a Sell rating for a period of one to three months.
Longer term, we maintain a Neutral recommendation on the stock.
HALLIBURTON CO (HAL): Free Stock Analysis Report
SCHLUMBERGER LT (SLB): Free Stock Analysis Report
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