HOUSTON, Texas (June 1, 1995) -- Halliburton Energy Services announced
today that it has entered into an exclusive agreement with Mag-Well,
Inc. to offer Mag-Well's patented magnetic fluid conditioning technology
to its oil and gas industry customers.
The device, to be known as the Halliburton Magnetic Fluid Conditioner,
is installed in producing oil wells to reduce or eliminate the build
up of certain scale and paraffin deposits, thereby increasing the
amount of produced fluids. Surface installations are also available
to help keep flow lines and surface processing equipment clear of
deposit build up.
Magnetic fluid conditioning technology is emerging as a proven
alternative to more costly chemical and mechanical methods of scale
removal that often require the suspension of production. Mag-Well
Inc., a Dallas, Texas based company, has been installing this new,
patented technology in wells in the United States since 1992, helping
operators reduce maintenance and increase production.
"The Halliburton Magnetic Fluid Conditioner complements our
extensive range of lock mandrels and other sub surface products
to offer our customers additional value and lower total costs."
stated Artie Burke, Director of Halliburton's Sub Surface Products
Mag-Well President Bill Dillard said, "An agreement of this
magnitude with an organization the stature of Halliburton demonstrates
clearly that magnetic fluid conditioning is accepted as a dependable,
Halliburton will offer the magnetic fluid conditioning tool first
to its customers in Latin America. Mark Varel, Mag-Well's Vice President
of International Operations commented, "Working in close cooperation
with Halliburton's extensive sales and field personnel in Latin
America, our magnetic fluid conditioning tools will reach our customers
more quickly. The technical feedback from these installations will
also help us develop future generations of Mag-Well products."
Halliburton Energy Services, a Halliburton Company (NYSE: HAL)
organization, is one of the world's leading suppliers of energy
products and services. Founded in 1919, the organization provides
a broad range of services and products to the energy industry on
a global basis.
# # #