HOUSTON, Feb. 21, 2018 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today announced that it has acquired the business of Superior QC, LLC, including its assets and intellectual property. Founded in 2015 by Chad Hanak, Ph.D., Superior QC is a provider of software used to improve the accuracy of horizontal wellbore placement. Superior QC's MWD Survey FDIR (Fault Detection, Isolation, and Recovery) service is a new data analytics technology to analyze measurement while drilling (MWD) survey data in real-time and more accurately identify the position of the well. The insight gained from MWD Survey FDIR allows for more informed adjustments to be made while steering a horizontal well, ultimately increasing the accuracy of horizontal well placement.
As part of this transaction, Dr. Hanak has joined Patterson-UTI. Dr. Hanak brings to Patterson-UTI extensive experience gained while working for NASA on designing automated guidance, navigation, and control algorithms for manned and unmanned spacecraft.
Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "We are very pleased to have the Superior QC business as part of Patterson-UTI. As E&P companies work to optimize the development of their acreage, the accurate placement of wellbores minimizes interference and helps to maximize well productivity."
Patterson-UTI is a provider of oilfield services and products to oil and natural gas exploration and production companies in North America, including market leading positions in contract drilling, pressure pumping and directional drilling services. For more information, visit www.patenergy.com.
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SOURCE PATTERSON-UTI ENERGY, INC.