Mr. Demshur: Core Laboratories has been very fortunate because the high level of worldwide expenditures by the international and domestic oil companies has led to a significant increase in activity for the company. If we look year on year, Core Laboratories' revenues have been growing in the last two quarters some 15%, which are some of the highest numbers in all of the oil field services industry.
TWST: Is that purely a reflection of the market or are you gaining
share?
Mr. Demshur: With the unique services that Core provides we are getting
greater market penetration for some of the company's new technologies.
In the international market Core has come up with some new technologies
that improve the amount of sweep efficiency in fields that are under
secondary and tertiary recovery. For instance, in Mexico in one of their
large fields Core has determined that the sweep efficiency of a field
flood has not been very efficient. So based on this information,
additional wells are being drilled and additional flood schemes are
being laid out by the operator, increasing the amount of oil and gas
flows in the field to the producing well-bores.
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