Schlumberger has entered into an agreement with Altor Fund II to acquire SPT Group—a privately owned software company specialized in dynamic modeling for the oil and gas industry. The company provides a combination of software and consulting services for multiphase flow and reservoir engineering applications. Closing is subject to customary regulatory approvals.

"The dynamic modeling and reservoir optimization software of SPT Group will complement the existing Schlumberger production software portfolio," said Tony Bowman, President, Schlumberger Information Solutions (SIS). "In combination with the Petrel E&P software platform and other SIS technologies, this will enable customers to further optimize production from reservoir performance to processing facilities."

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