Resman AS and Tracerco, part of Johnson Matthey Plc, have mutually agreed to discontinue litigation. The two companies have entered into a global patent licence agreement under which Tracerco will have access to Resman's inflow monitoring patents.
Both Resman and Tracerco provide essential reservoir monitoring services enabling oil and gas companies to maximise efficiency and hydrocarbon recovery.
Reservoir Director Paul Hewitt commented; "Tracerco's industry-leading hydraulic frac, acid stimulation and interwell tracing technologies, together with inflow technology, delivered through our global network using in region engineering expertise will provide our customers with enhanced insight into reservoir performance."
Paul further commented; "We create value for our customers through the development of innovative technologies to offer cost effective alternatives to traditional methods of gaining critical data, allowing overall lift costs to be reduced. Entering into a patent licence agreement with Resman provides an exciting opportunity for us to grow our offering as we strive to solve customer measurement challenges with innovative thinking, and service excellence."