Mathieson brings strong background in business development and technical
experience to role Houston, Texas– May xx, 2007 – WellDynamics, the leading provider of intelligent completion technology to the upstream oil and gas industry, announced today that its Board of Directors has appointed Derek Mathieson to the role of Acting President and Chief Executive Officer. Mathieson, who previously served as the firm’s Vice President, Business Development and Technology, assumed responsibilities on May 21.

Mathieson joined WellDynamics at its inception in 2001, and had leadership responsibilities for the company’s reliability assurance, research and development, and technology functions prior to his appointment to the vice president role. He was previously employed by Shell UK Exploration and Production Ltd., where he was a consultant in advanced completion technology for the Technical Services group. Prior to this position, Mathieson was employed by Wood Group Production Technology in the UK.

“Derek’s strong technical understanding, as well as his proven expertise in developing new business opportunities, will be extremely valuable to WellDynamics as we continue our growth,” said John Ogren, Chairman of the Board, WellDynamics. “Over his six-year tenure with the firm, Derek has developed a keen awareness of both its strengths and challenges. This awareness will enable him to focus immediately on strategies to maintain WellDynamics’ market leadership while it expands into new markets.”

Mathieson holds a doctorate degree and a Bachelor of Engineering degree from Heriot-Watt University in Edinburgh, Scotland. He is a member of the Society of Petroleum Engineers (SPE) and the Institute of Engineering Technology (IET), and is professionally registered with the UK Engineering Council. Mathieson is a frequent speaker at many industry events. WellDynamics’ intelligent completion technology includes solutions for subsurface flow control, zonal isolation, and real-time monitoring and control from surface facilities.

Notes to Editors

WellDynamics, a joint venture company of Halliburton Energy Services and Shell Technology Ventures Fund 1 B.V. (managed by Kenda Capital B.V.), is the world’s leading provider of intelligent completion technology to the upstream oil industry. WellDynamics’ SmartWell^® technology, introduced in 1997, was the industry’s first intelligent well completion system.

Today, the company offers a broad complement of products and services that range from reservoir engineering studies to advanced completion design, zonal isolation and flow control, reservoir monitoring and surface digital infrastructure solutions. WellDynamics operates offices around the globe.

Media Contact

Robin Swanger
+1.281.297.1276