Acacia Subsidiary Obtains Rights to Patent Portfolio for Oil and Gas Production Technology
Acacia Research Corporation (NASDAQ: ACTG) announced today that a
subsidiary has obtained rights to a patent portfolio relating to oil and
gas production and will share licensing revenue with the patent owner.
The portfolio comprises 4 US and 27 foreign patents that relate to
polymer based drilling fluids which are widely used in the drilling of
oil and gas wells.
Acacia's CEO Paul Ryan, commented, “We see the energy industry as a
significant new market for the continued expansion of our patent
licensing business in 2013. Acacia plans to continue this expansion and
partner with patent owners who have developed new technological advances
in all areas of the energy industry.”