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CORE LABORATORIES ANNOUNCES STRATEGIC ACQUISITION OF BRAZIL-BASED SOLINTEC

1. Core Laboratories acquired Brazil's Solintec for integrated geological services. 2. Solintec enhances Core Lab's capabilities in Brazil's oil industry. 3. Acquisition aims to strengthen local presence and service offerings. 4. Core Lab targets growth in non-OPEC regions, particularly Brazil. 5. Collaboration since 2022 will expand service portfolios in oil & gas.

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FAQ

Why Bullish?

The acquisition signifies growth potential in a key market for CLB, similar to past acquisitions which positively impacted share prices.

How important is it?

The strategic acquisition is likely to drive revenue growth, enhancing shareholder value.

Why Long Term?

The acquisition positions CLB for sustained growth in Brazil's emerging oil market over several years.

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, /PRNewswire/ -- Core Laboratories (NYSE: "CLB") announced today the acquisition of Brazil-based integrated geological services company, Solintec. For more than three decades, Solintec has provided integrated upstream oil and gas geological services to the vast majority of national and international companies operating in Brazil. Its modern laboratory facilities and capabilities enable in-country mineralogic and sedimentary descriptive analysis, eliminating the need to export samples abroad. Combined with Core Lab's proprietary non-invasive dual-energy tomography, these services enhance geologic assessment and formation evaluation, while providing faster turnaround and deeper insights for Brazil's complex offshore pre-salt and onshore projects. "This transaction is another example of recent investments Core continues to make in key markets which are targeted at growth, and we believe Brazil will continue to emerge as a leading non-OPEC producer with prolific reserves both onshore and offshore. The acquisition of Solintec will strengthen our local presence and expand the range of high-value services offered locally to clients," said Larry Bruno, CEO of Core Laboratories. "Whether it's an acquisition like Solintec, or expanding existing facilities and capabilities like we did with our unconventional core analysis laboratory in Saudi Arabia, Core Lab will continue to evaluate investments in growth opportunities. Core remains committed to offering advanced technologies across our global footprint and directly into the world's most critical energy markets. Together, these strategic investments enhance client partnerships, open new avenues for growth, and reinforce our commitment to creating shareholder value." Core Lab and Solintec have been collaborating through a technical services arrangement since 2022, offering the broadest range of complementary service portfolios available to Brazil's oil and gas industry. This acquisition will further enhance Core Lab's presence to deliver the most comprehensive suite of reservoir laboratory services in the region and long-term, sustainable value for its clients and shareholders. Core Laboratories Inc. (www.corelab.com) is a leading provider of proprietary and patented reservoir description and production enhancement services and products used to optimize petroleum reservoir performance. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world. Solintec (www.solintec.com/br/en) is widely recognized as the leading laboratory for integrated geological services in Brazil. From its laboratory and storage facilities, the company provides one-stop operational and technical support to the highest quality standards, with ISO Certifications and certified local content of 100%. SOURCE Core Laboratories Inc WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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