Schlumberger has acquired Novatek Inc. and Novatek IP LLC., U.S.-based companies that specialize in synthetic diamond technology primarily for the oil and gas industry, according to a news release.
The existing relationship between Schlumberger and Novatek has delivered 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, Schlumberger said in the news release.
“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 continue to work with our customers to accelerate field adoption of these innovative drilling technologies.”
Novatek has a 60-year production development history with a portfolio of more than 600 patents, the release said. 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.
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