Schlumberger snaps up clean technology firm

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Clean water technology company Mycelx Technologies Corporation has entered into an exclusive marketing and distribution agreement with Schlumberger.

The agreement provides Schlumberger – through subsidiary Cameron – exclusive rights to distribute Mycelx products in the upstream market.

In particular, both companies will work to expedite the industry adoption of Mycelx’s new RE-GEN product line as the water treatment method of choice in the upstream oil and gas market.

Mycelx will retain its current business in the downstream market for all its products and services.

Chief executive, Connie Mixon, said: “We are extremely pleased to be working with Schlumberger to bring our products to their global upstream customer base.

“This agreement is in line with our focus on establishing strategic alliances to leverage sales and marketing channels globally. We believe the RE-GEN product is a paradigm shift for upstream producers in that it allows them to meet their produced water treatment needs and provides meaningful cost savings.”