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BRIEF-Production Plus Energy to form JV with Schlumberger in Canada and US

April 20 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:

我们的标准: 汤森路透“信任原则

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