Acquisition of Geoservices
On April 23, 2010, Schlumberger completed the acquisition of Geoservices, a privately owned oilfield services company
specializing in mud logging, slickline and production surveillance operations, for $915 million in cash.
The purchase price has been allocated to the net assets acquired upon their estimated fair values as follows:
(Stated in millions)
Cash
$ 26
Fixed assets
75
Goodwill
658
Intangible assets
377
Other assets
150
Long-term debt
(145)
Deferred taxes
(68)
Other liabilities
(158)
$ 915
The long-term debt was repaid at the time of closing.
Intangible assets recorded in connection with this transaction, which primarily relate to customer relationships, will
be amortized over a weighted average period of approximately 17 years. The amount allocated to goodwill represents
the excess of the purchase price over the fair value of the net assets acquired and is not tax deductible for income tax
purposes.
Other Acquisitions
Schlumberger has made other acquisitions and investments, none of which were significant on an individual basis,
for cash payments, net of cash acquired, of $610 million during 2011, $212 million during 2010, and $514 million during
2009.
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