Production Plus Energy Services :
* Entered into an agreement with Schlumberger to create
joint ventures in Canada and US
* Will contribute its HEAL system business to JV entities in
exchange for cash consideration and future contingent payments
* At closing of transaction, production Plus will hold a
50.1% interest in JV entities and Schlumberger will hold 49.9%
* Board of directors of Production Plus has unanimously
approved transaction
* Consideration received for 49.9% interest in HEAL system
business will provide co opportunity to effect a special
dividend
Source text for Eikon:
Further company coverage: