Profile: Core Laboratories NV (CLB.N)

CLB.N on New York Stock Exchange

208.00USD
15 Apr 2014
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Core Laboratories N.V. (Core Lab), incorporated on July 8, 1994, is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. These products and services are directed toward enabling the Company’s clients to improve reservoir performance, and increase oil and gas recovery from their producing fields. Core Lab operates in three business segments: reservoir description, production enhancement and reservoir management. Reservoir Description encompasses the characterization of petroleum reservoir rock, fluid and gas samples. It provides analytical and field services to characterize properties of crude oil and petroleum products to the oil and gas industry. Production Enhancement includes products and services relating to reservoir well completions, perforations, stimulations and production. Core Lab provides integrated services to evaluate the effectiveness of well completions and to develop solutions for the oil recovery projects. Reservoir Management combines and integrates information from reservoir description and production enhancement services to improve production and recovery of oil and gas from the clients' reservoirs. The wholly owned subsidiary of the Company is Core Laboratories LP.

The Company offers its services worldwide through its global network of offices. During the year ended December 31, 2012, services accounted for approximately 71% of its revenues from operations. The Company manufactures products primarily in four facilities for distribution on a global basis. During 2012, product sales, generated principally in its Production Enhancement segment, accounted for approximately 29% of its revenues from operations.

Reservoir Description

Commercial oil and gas fields consist of porous and permeable reservoir rocks that contain natural gas, crude oil and water. The Company provide services that characterize the porous reservoir rock and all three reservoir fluids. Services relating to these fluids include determining quality and measuring quantity of the fluids and their derived products. It includes determining the value of different crude oil and natural gases by analyzing the individual components of hydrocarbons. The Company analyzes samples of reservoir rocks for their porosity, which determines reservoir storage capacity, and for their permeability, which defines the ability of the fluids to flow through the rock. These measurements are used to determine how much oil and gas are present in a reservoir and the rates, at which the oil and gas can be produced. Core Lab also use its services and technologies to correlate the reservoir description data to wire line logs and seismic data by determining the different acoustic velocities of reservoir rocks containing water, oil and natural gas. These measurements are used in conjunction with its reservoir management services to develop programs to produce more oil and gas from the reservoir.

Production Enhancement

The Company produces data to describe a reservoir system that is used to enhance oil and gas production. Two production enhancement methods used by the Company are hydraulic fracturing of the reservoir rock to improve flow, and flooding a reservoir with water, carbon dioxide, nitrogen or hydrocarbon gases to force more oil and gas to the wellbore. The hydraulic fracturing of a producing formation is achieved by pumping a proppant material in gel slurry into the reservoir zone at high pressures. It forces fractures to open in the rock and props or holds the fractures open so that reservoir fluids can flow to the production wellbore. Its ZERO WASH tracer technology is used to determine that the proppant material was placed in the fracture to ensure flow and recovery.

SPECTRACHEM is another technology developed for optimizing hydraulic fracture performance. SPECTRACHEM is used to aid operators in determining the efficiency of the fracture fluids used. SPECTRACHEM tracers allow operators to evaluate the quantity of fracture fluid that returns to the wellbore during the clean-up period after a hydraulic fracturing event. The technology also allows the clients to evaluate load recovery, gas breakthrough, fluid leakoff and breaker efficiency, which are the factors for optimizing natural gas production after the formation is hydraulically fractured.

SpectraChem Plus service is used in determining the effectiveness and efficiency of the hydraulic fracture stimulation of long multistage horizontal wells in gas-shale plays throughout North America. SpectraChem Plus data sets are used to determine how each frac stage, which may number up to 30 per well, is flowing. Frac stages with ineffective flows may warrant further stimulation or remedial actions. The Company conducts dynamic flow tests of the reservoir fluids through the reservoir rock, at actual reservoir pressure and temperature, to realistically simulate the actual flooding of a producing zone. It uses technologies, such as the Saturation Monitoring by the Attenuation of X-rays (SMAX), to help design the recovery project. Core Lab is also involved in monitoring the progress of the flood to ensure the maximum amount of incremental production is being achieved through the use of SpectraFlood technology. Core Lab’s completion monitoring system, Completion Profiler helps to determine flow rates from reservoir zones after they have been hydraulically fractured. It provides the clients with a baseline of early production information and can be compared to subsequent production logs later in the life of the well to see if and where hydrocarbon production varies. The PACKSCAN technology is used as a tool to evaluate gravel pack effectiveness in an unconsolidated reservoir. PACKSCAN measures the density changes in the area around the tool and is designed to observe the changes within the wellbore to verify the completeness of the gravel pack protection of the wellbore without any additional rig time.

In addition to the Company’s reservoir analysis technologies, it is engaged in the manufacture and distribution of perforating products. Its systems approach to the perforating of an oil or gas well has resulted in numerous products. Core Lab’s High Efficiency Reservoir Optimization (HERO) and SuperHERO and SuperHERO Plus+ perforating systems are used in enhancing reservoir performance. The SuperHERO and SuperHERO Plus+ perforating systems are designed to optimize wellbore completions and stimulation programs in gas-shale reservoirs. SuperHERO and SuperHERO Plus+ charges can eliminate the ineffective perforations that would otherwise limit daily natural gas production and hinder the optimal fracture stimulation programs needed for prolific production from the Marcellus, Barnett, Fayetteville, Haynesville and similar gas-shale formations.

Core Lab’s Horizontal Time-Delayed Ballistics Actuated Sequential Transfer (HTD-Blast) perforating system is a technology useful for the effective and efficient perforation of extended-reach horizontal completions in the Bakken, Eagle Ford, and other shale formations. The HTD-Blast perforating system can be deployed via coiled tubing, and enables 10 perforating events, beginning at the farthest reaches, or toe regions, of extended-reach horizontal wells.

Reservoir Management

Reservoir description and production improvement information, when applied across an entire oilfield, is used to improve daily production and the ultimate total recovery from the reservoir. The Company is also involved in reservoir management projects, applying techniques from the earliest phases of a field development program until the last economic barrel of oil is recovered. The Company also develops and provides industry consortium studies to provide reservoir information to a range of clients, such as its multi-client regional reservoir optimization projects for both North America and international studies, especially studies pertaining to unconventional natural gas reservoirs, such as its ongoing global shale study that examines the shale potential in Central and Southern Europe, North Africa, India, China and Australia among other regions and a joint industry project evaluating the petrophysical, geochemical and production characteristics of the Eagle Ford shale in South Texas. The Company sells and maintains permanent real time reservoir monitoring equipment that is installed in the reservoir for its oil and gas company clients, which eliminates the need for down-hole electronic components providing high temperature capability in extreme operating environments.

Company Address

Core Laboratories NV

Herengracht 424
Amsterdam     1017 BZ
P: +3120.4203191

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