Baker Subsidiary Agrees to Buy Interest in Competitor
A subsidiary of Baker International Corp. in Orange has agreed in principle to acquire the mudlogging--or rock analysis--interests of one of its competitors, Core Laboratories Inc. in Dallas, a Baker spokesman said Monday.
The subsidiary, Exploration Logging Inc. in Sacramento, would not disclose the terms of the tentative deal. It also did not disclose when the final contract would be signed.
Exploration Logging said it will provide uninterrupted service to Core Lab’s mudlogging clients. Mudlogging is the analysis of mud and rock particles pulled up during oil drilling.
Core Lab, a subsidiary of Litton Industries, “opted to get out of that phase of the business and sell their interest to us,” said Ronald G. Turner, a Baker vice president.