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Baker Hughes Acquires Software Developer Meyer & Associates

MFrac software strengthens Baker Hughes' hydraulic fracturing simulation capabilities
HOUSTON, TX – September 21, 2010 – Baker Hughes (NYSE: BHI) has acquired Meyer & Associates, a leading petroleum industry software developer. The acquisition strengthens Baker Hughes’ Reservoir Development Services (RDS) and positions Baker Hughes as a leading provider of hydraulic fracturing design and evaluation consulting.

Meyer & Associates’ MFrac software provides comprehensive design and evaluation simulations, containing a variety of options including three-dimensional fracture geometry and integrated acid fracturing solutions, for hydraulic fracturing, produced water and cuttings reinjection applications. Recently, Meyer & Associates added an innovative approach to simulation of hydraulic fracturing in shale gas plays to its suite of software products.

With the addition of Meyer & Associates software and expertise, Baker Hughes enhances its capabilities to design hydraulic fracturing simulation plans for unconventional gas, tight formations in the deepwater Gulf of Mexico and carbonates in the Middle East. The software also complements Baker Hughes’ geomechanical modeling capabilities. The RDS software development team will work with Meyer & Associates to integrate MFrac with existing geomechanical and geomodeling software capabilities to create an even more attractive software solution for customers.

In addition, the MFrac software will allow the Baker Hughes RDS group to expand the consulting and training business in hydraulic fracturing design and evaluation. The MFrac software will be rolled out within RDS in conjunction with a client training program on hydraulic fracturing design and the application of MFrac.

“Integrating hydraulic fracturing design and interpretation with advanced geomechanical models will substantially improve operators’ capabilities to optimize hydrocarbon recoveries and profitability,” notes John Harris, president of Baker Hughes’ Reservoir Development Services. “With this acquisition, we believe our reservoir and development consulting capabilities for low-permeability and unconventional reservoirs can now integrate the full range of field optimization services, including geomechanics, microseismic, multistage hydraulic fracturing, formation evaluation in shales, and pressure pumping.”

About Baker Hughes
Baker Hughes provides reservoir consulting, drilling, pressure pumping, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

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