Halliburton Co., Houston, (NYSE: HAL) has entered into a definitive agreement with Carbo Ceramics Inc., Irving, Texas, (NYSE: CRR) to buy the assets of Pinnacle Technologies Inc., including the Pinnacle brand in a deal valued at $137 million. Pinnacle is a leading provider of micro-seismic fracture mapping services and tilt-meter mapping services.

Pinnacle has monitored more than 12,000 hydraulic fracture treatments since its founding in 1992. The company's level of fracture mapping experience is now being utilized by operators to overcome the complexities of shale reservoirs across North America, including the Bakken, Barnett, Caney, Fayetteville, Marcellus, Muskwa and Woodford.

The acquisition complements Halliburton’s portfolio of stimulation technologies. The addition of Pinnacle’s real-time stimulation monitoring and analysis capabilities will provide Halliburton’s customers with a reservoir stimulation solution. The solution reduces uncertainty and increases the efficiency of fracturing and acidizing services while maximizing reservoir performance and will be especially beneficial in unconventional resources. Pinnacle will operate as a business unit within Halliburton’s wireline and perforating services.

“Complex reservoirs are becoming more prevalent, so operators need better information, often in real time, in order to optimize their production solutions,” says Cris Gaut, president of Halliburton’s drilling and evaluation division. “Pinnacle’s capabilities complement Halliburton’s vision of the Digital Asset by combining real-time reservoir understanding with cutting-edge stimulation technology to address the challenges of unconventional resources.”

Pinnacle president Kevin Fisher says, “The integration of Pinnacle and Halliburton creates exceptional opportunities for our customers and employees. I look forward to combining the passion we have for tilt-meter and micro-seismic fracture diagnostics with the resources and capabilities of one of the world’s largest and most respected energy services companies.”

Halliburton has also entered into a multi-year ceramic proppant supply agreement with Carbo Ceramics. “Our supply agreement with Carbo provides supply continuity for our industry-leading propped-fracture stimulation processes,” says David King, president of Halliburton's completion and production division.

Under this agreement, Carbo Ceramics will retain Pinnacle’s FracProPT, hydraulic fracturing consulting and applied geomechanics assets. JAS