Acquisitions & Divestitures

Sercel, a subsidiary of CGGVeritas, Paris, (NYSE: CGV; Paris: GA) has acquired the assets of Tulsa, Okla.-based Geophysical Research Co. LLC for US$22 million.

Geophysical Research provides downhole sensors and gauges for the oil and gas industry. This acquisition builds on Sercel’s diversification into the well environment and more specifically the artificial lift market. Geophysical Research’s memory gauge business complements Sercel’s existing product offering and geographical coverage.

Geophysical Reseach chief executive Bob Laird says, “This acquisition offers GRC leverage in strengthening and expanding our global presence, operational efficiency and technology ...