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Acacia subsidiary partners with owner of patent portfolio for oil and gas production technology

Monday, Feb 04, 2013

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.

“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.”

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.”

Source: Business Wire

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