Core Laboratories N V : Lab Reports First-Quarter 2016 Results

FOR IMMEDIATE RELEASE

• EPS OF $0.37, EX-FX
• FCF AT $43.2 MILLION - SHARE COUNT AT 42.5 MILLION
• FCF/REVENUE CONVERSION RATE HIGHEST IN OILFIELD SERVICES
• COMPANY POSTS OILFIELD SERVICES-LEADING ROIC
• COMPANY PAYS $23.3 MILLION IN DIVIDENDS, LOWERS DEBT BY $24.8 MILLION
• CORE PROJECTS Q2 2016 BOTTOM OF "V-SHAPED" RECOVERY

AMSTERDAM (20 April 2016) - Core Laboratories N.V. (NYSE: "CLB US") (Euronext Amsterdam: "CLB NA") ("Core", "Core Lab", or the "Company") reported first quarter 2016 earnings per diluted share ("EPS") of

$0.37, excluding foreign currency translations ("ex-fx"). First quarter 2016 net income, ex-fx, was

$15,700,000, and revenue was $153,600,000, down sequentially 16% from fourth quarter 2015 levels, as North America rig count decreased over 35%, resulting in global rig count falling by 21%, during the quarter. The Company believes that global spending will fall 27% in 2016. Operating income, ex-fx, was $23,700,000, yielding operating margins, ex-fx, of over 15%. In accordance with generally accepted accounting principles ("GAAP"), which included all charges for foreign exchange, first quarter 2016 EPS was $0.35; net income was $15,100,000; operating income was $22,900,000; and operating margins were 15%.

Free cash flow ("FCF"), defined as cash from operations less capital expenditures, for the first quarter of 2016 exceeded $43,000,000, while the diluted share count totaled 42,520,000 shares. During the quarter, Core converted over 28% of every revenue dollar into FCF, the highest for all major oilfield service companies. Core's ability to generate free cash in the current oilfield environment is unmatched in the oilfield services industry and gives the Company an unrivaled ability to capitalize on a variety of potentially significant business opportunities. The Company used the FCF to pay its $23,300,000 quarterly dividend and to reduce outstanding debt by $24,800,000.

As reported in previous quarters, the Board of Supervisory Directors ("Board") of Core Laboratories N.V. has established an internal performance metric of achieving a return on invested capital ("ROIC") in the top decile of the service companies listed as Core's peers by Bloomberg Financial ("Comp Group"). Based on Bloomberg's calculations for the latest comparable data available, Core's ROIC is the highest in its oilfield services Comp Group.

The Company continues to anticipate a "V-shaped" worldwide commodity recovery in 2016, with upticks expected to start in the third quarter. Global demand for hydrocarbon-based energy continues to improve, while worldwide crude oil supply peaked in the second half of 2015 beginning a decline that Core believes will continue through all of 2016 and 2017. The Company has observed that U.S. onshore oil production peaked in March 2015 and has fallen since then by over 600,000 barrels of oil per day ("BOPD"), some of which was offset by new additions to production in the Gulf of Mexico ("GOM") as a result of eight deepwater legacy-field developments coming on-line in 2015. This new production, from deepwater fields that includes Anadarko's Lucius and Heidelberg and Shell's Stones, offset significant declines in existing GOM fields.

At current U.S. activity levels, Core predicts 2016 U.S. onshore oil production will fall approximately 1,100,000 BOPD, somewhat offset by GOM gains of approximately 200,000 BOPD, yielding a U.S. net decline of 900,000 BOPD and net decline curve rate of 10.1%. Based on currently available worldwide crude oil production data, coupled with internal Core Lab data, Core has increased its estimate of the net worldwide annual crude oil production decline rate to 3.3%, as supported by recent International Energy Agency ("IEA") reports that worldwide crude oil production fell 300,000 BOPD in March from February 2016 levels. March was the third consecutive month of global oil production decreases.

The increase in the net worldwide decline rate is predicated on sharper decline curve rates for tight-oil reservoirs and the significant decline in maintenance capital expenditures for the existing crude oil production base. This, coupled with the continuing decline in global production and the continuing increase in global energy consumption, should create a tight crude oil supply market for the second half of 2016, and that should lead to increased crude prices and industry activity levels worldwide.

Core Laboratories reports results under three operating segments: Reservoir Description, Production Enhancement, and Reservoir Management.

Reservoir Description

Reservoir Description operations, which focus primarily on international markets and an increasing number of reservoir fluid phase-behavior and crude-oil-characterization projects, reported first quarter 2016 revenue of

$101,500,000. Operating income was $18,700,000 and operating margins were over 18%, both ex-fx. Operating income and margins reported in accordance with GAAP were $18,200,000 and 18%, respectively. First quarter 2016 Reservoir Description revenue was down less than 12% sequentially from fourth quarter 2015 totals, and operating margins of over 18% were superior to those of international oilfield service companies. By comparison, the global rig count fell by 21%. The relative outperformance of Reservoir Description operations, when compared with declines in worldwide activity levels and other oilfield service companies' results, was underpinned by Core's differentiated technological superiority of service offerings, especially for projects in the deepwater GOM, Russia, the Middle East, and Asia-Pacific regions and South America.

Reservoir Description operating results exhibited similar relative strength during the 2009 downturn, indicating the mission-critical nature and value of the cutting-edge technologies delivered by Core when compared with lower-technology, commodity-related offerings, such as pressure pumping, seismic, wireline, drilling, and exploration-related services.

In the deepwater GOM, Core continues to exclusively offer reservoir fluid, phase-behavior studies at ultra- high temperatures to 390 degrees Fahrenheit (200 degrees Centigrade) and at ultra-high pressures to 29,000 pounds per square inch (2,000 bar) in a full-visual-cell configuration. These deepwater phase- behavior studies are primarily being conducted on fields that are currently producing, requiring no new deepwater drilling or field developments. The data sets are utilized to maximize daily crude oil production and, more importantly, to maximize ultimate hydrocarbon recovery rates from challenging ultra-deepwater reservoirs that have temperature and pressure regimes similar to those in Lower Tertiary fields in the GOM.

Core's leading-edge technologies in extreme temperature and pressure environments are also being employed by the European Space Agency ("ESA") and Total, one of Core's largest European clients, for experiments -- which can only be conducted in the weightlessness of outer space -- to study the Soret coefficient of small-versus-large hydrocarbon molecule movement in crude oils.

Internationally, Core Lab continues to innovate and to evolve technologies related to the characterization of crude oil and its derived products. In Russia, Core continues to improve its thermal imaging ("T∙VISION™") technology that expedites the efficiency of loading crude oil into tank cars for transport. First, the crude is fractionated and distilled to determine its quality and value. T∙VISION thermal imaging is then used to accurately measure the quantity of crude loaded into each car. The Company has updated its computer- based dashboard ("liveQ™") display using HTML5 technology that, when coupled with T∙VISION technology, can be accessed by customers via laptop or mobile devices. The liveQ service allows terminal operators to receive real-time crude-oil-characterization data sets for valuation of product and blending mixtures. The real-time data updates enable more efficient and profitable management of crude oil and products, while optimizing delivery operations to pipelines, tankers, and rail cars.

In the Middle East, Core continues to work on a number of field projects to maintain current production levels while boosting estimated ultimate recovery rates. One client continues to evaluate the potential of several shale horizons for increasing natural gas production. In Asia-Pacific, several large-field enhanced oil recovery ("EOR") projects continued in Australia, India, Indonesia and Malaysia.

An international oil company continued an extensive coring and fluids program to evaluate reservoir properties on a potential giant oil field discovery offshore South America. Core Lab has been working with this client since the inception of the analytical program and the measurements will be used to define rock properties, determine reservoir fluid saturations and measure flow properties of these reservoirs. These data sets will form the foundation for calculating hydrocarbon volume in place and the production potential of the various reservoir zones. Core's geological staff is helping the operator understand detailed rock properties, reservoir heterogeneities, depositional environments, and consequently, the morphology of the reservoir complex. As future development wells are planned, and reservoir core and fluids samples are acquired, this program should expand over the next several years. As the lab analytical program proceeds, Core will conduct testing at reservoir temperature and pressure conditions that will provide the physical basis for modeling reservoir performance and be used to calibrate downhole logs.

As previously reported, Core Laboratories currently has essentially zero exposure to the Venezuelan market as the Company ceased operations in its Maracaibo and satellite facilities over two years ago based on our internal risk assessment of the Venezuelan market. The high potential that future receivable payments would be in doubt caused Core to close operations in 2013 after 60 plus years of profitable operations in Venezuela.

Production Enhancement

Production Enhancement operations, largely focused on North American unconventional reservoirs and complex deepwater completions and stimulations, reported first quarter 2016 revenue of $44,100,000 falling 22% sequentially from fourth quarter 2015 levels. By comparison, the first quarter 2016 North America rig count fell over 35% on a sequential basis. Operating income was $4,500,000, ex-fx, $4,100,000 reported on a GAAP basis, with operating margins of 10%, ex-fx, and over 9% GAAP reported. These results were relatively strong when compared with the falling U.S. rig count and results from the North American operations of other oilfield service companies. Aggressive expense control actions taken early in the quarter limited sequential quarterly decremental margins to 23%.

During the quarter, Core's Production Enhancement operations utilized its SPECTRASTIM™ tracer technology, in combination with Core's SPECTRASCAN® and PACKSCAN® patented washpipe-conveyed diagnostic technologies, to maximize completion and hydraulic fracture programs for a Lower Tertiary well in the deepwater GOM. Core traced and logged a complex single-trip, multi-zone completion and stimulation procedure in lenticular Wilcox sandstone reservoirs. The data indicated that one of the four stages exhibited incomplete frac height coverage, which would have resulted in lower daily crude oil production and less-than- optimal estimated ultimate recovery of hydrocarbons from the reservoir complex. The operator applied Core's data sets to remediate and maximize Wilcox completion and stimulation programs, thereby

significantly increasing the net present value of the well and the ROIC for their entire Wilcox development. Core is currently in discussions with several operators in the Lower Tertiary trend to implement similar strategies using proprietary Core Lab technologies to maximize completion efficiencies and returns on future Wilcox completion and stimulation programs.

As operators continue to optimize their wellsite efficiency and reservoir production, Core Laboratories' KODIAK Enhanced Perforating System™ and HERO® line of perforating charges have been used increasingly in North American shale plays. These Production Enhancement technologies have been successfully used by operators to increase production by as much as 15%. In the last 12 months, the PerFRAC-HERO™ system has received significant market acceptance, with a 23% increase in utilization, even while the North American rig count has fallen 57%.

During the first quarter, Core Lab conducted testing utilizing its cutting-edge computerized tomography scanning facilities to evaluate the HERO charge performance against other perforating technologies. The testing was conducted under simulated reservoir conditions and revealed that the HERO patented technology achieved 15% to 40% deeper penetration compared with competitive charges, and it left significantly less debris, resulting in larger tunnel volume. The combination of deeper penetration, minimal debris, and larger tunnel volume increases frac flow efficiency with lower breakdown pressures and fewer screen-outs. That gives operators lower stimulation costs and higher production rates.

Core Lab's Production Enhancement team continues to provide "Fit-For-Use" testing and solutions for the decommissioning of older wells in the North Sea. This testing helps clients determine if a product is fit-for- use in a particular well scenario by evaluating its behavior or performance prior to running it downhole.

Since last year's industry acceptance of the PAC™ (Plug & Abandonment - Circulation) perforating system, Core Lab has provided more than 50,000 perforating charges to facilitate the effective cleanout of the cement between strings of production casing. The PAC system is capable of producing 0° to 360° coverage of the primary string with optimal hole diameters for effective cement flow and a more homogeneous cement plug.

Effective cleanout enables an operator to fully cement and isolate the non-producing formation so that the well can be abandoned in accordance with regulatory requirements. The PAC perforating system is replacing conventional section milling because of the cost savings realized when an abandonment operation is completed with fewer days of rig time -- a significant customer benefit given the $500,000/day rig rates in the North Sea.

Reservoir Management

Reservoir Management operations posted first quarter 2016 revenue of $8,000,000 with operating income of

$500,000 and operating margins of 7%, ex-fx, and $500,000 and over 6%, respectively, GAAP reported. All results were sequentially lower than levels reported for fourth quarter 2015 as the highly discretionary nature of participating in Core's joint-industry projects delayed spending commitments by oil companies.

During the quarter, Reservoir Management did complete the largest proprietary project ever awarded to the Company. Core was tasked with generating numerous petrophysical data sets and integrating all data from regional well performance into one database that is now digitally available through cloud computing sites hosted within Core's RAPID™/Spotfire™ systems. The ultimate objective of the "big data" study was to evaluate conventional and unconventional hydrocarbon opportunities in the Wolfcamp and related sequences in the southern Delaware Basin for one of the most technologically sophisticated and successful operating companies in the Permian Basin.