Maxxam's Acquisition of Technology Company Brings New Benefits to Oil Sands Clients
(Marketwire Via Acquire Media NewsEdge) CALGARY, ALBERTA -- (Marketwire) -- 01/09/13 --
In a move that promises to pay major dividends for clients in Canada's oil and gas sector, Maxxam Analytics, Canada's largest independent laboratory, has acquired a ground-breaking software and services technology company that has developed a technique to dramatically improve the ability to evaluate oil sands drill cores.
The acquisition of Henderson and Associates (H&A) provides Maxxam with a platform through which the development and integration of value-added technical services will be available to meet the growing needs of clients in the oil sands geological market and beyond.
H&A is a Calgary-based petroleum consulting firm serving exploration and production companies in the oil sands. Its expertise is based on an innovative software solution, developed by H&A, and named Visual Logger™, which facilitates drill core description and logging. H&A also provides geological services for reviewing oil sands drilling projects which fully leverage Visual Logger for efficient and accurate results.
Maxxam Senior Vice President, Petroleum Services, Fred Hutchings, says under the terms of the acquisition, H&A will operate independently from Maxxam's oil sands drill core operations which will give customers more choice.
"Customers will be able to purchase services from H&A, which will remain completely separate from their purchase of Maxxam's reservoir core laboratory service," Hutchings said. "We recognize this is a highly competitive field and the confidentiality of information of customers who choose to work directly with H&A will be respected at all times."
The acquisition of H&A will essentially result in business as usual for the company, employees and clients, as there will be no staffing or location changes. The name of the company will remain as Henderson and Associates with a small by-line to indicate that H&A is now a Maxxam company.
H&A founder David Henderson said Maxxam's enthusiasm and commitment to developing new technologies, coupled with its considerable resources and scope, made Maxxam an obvious choice to take the H&A's business to new levels of customer and market innovation.
"The acquisition will allow H&A to bring new technologies to the market much faster than we could ever do on our own," Henderson said. "The benefits of that are two-fold: H&A can take the next evolutionary step in its growth trajectory, while providing leading edge technologies to our ever-expanding client base."
Jon Hantho, CEO of Maxxam, added that H&A's expertise will allow Maxxam to broaden its areas of technical specialization and sophistication within the industry, which is a win for clients. "Maxxam has been at the commercial forefront of analytical services to the oilsands industry, and this acquisition is further evidence of our commitment to this market and to our goal of developing solutions that drive success for our customers."
About Maxxam Analytics
Maxxam is the market leader in analytical services and solutions to the energy, environmental, food and DNA industries. We provide unparalleled depth of technical and scientific expertise and serve customers through the only national network of laboratories. Maxxam skillfully combines efficiency and customer service with rigorous science and uncompromising quality management.
Source: Maxxam Analytics International Corporation
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