Acquisitions

12 Months Ended

Dec. 31, 2015

Acquisitions [Abstract]

Business Combination Disclosure [Text Block]

We continually review potential acquisitions to add key services and technologies, enhance market presence or complement existing businesses.

In June 2015, we acquired a business providing additional reservoir fluids technology for $17.2 million in cash. We have accounted for this acquisition by allocating the purchase price to the net assets acquired based on their estimated fair values at the date of acquisition, resulting in an increase to goodwill of $13.7 million and an increase of $2.0 million in intangible assets. The acquisition was recorded in the Reservoir Description business segment.

The acquisition of this entity did not have a material impact on our Consolidated Balance Sheet or Consolidated Statements of Operations. We had no significant acquisitions during the years ended December 31, 2014 and 2013.