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HALLIBURTON AND 4th WAVE IMAGING
ENTER STRATEGIC AGREEMENT TO PROVIDE RESERVOIR MONITORING OFFERING
HOUSTON, Texas - - Halliburton Energy Services, a business unit of Halliburton Company (NYSE: HAL) today announced that is has entered into a strategic agreement with 4th Wave Imaging Corporation to offer 3D time-lapse vertical seismic profile (TLVSP) services to oil and gas producing companies. The agreement brings together Halliburton's global leadership in providing reservoir management solutions and 4th Wave Imaging's industry recognized expertise in time-lapse 3D surface seismic (commonly referred to as 4D seismic) data analysis and interpretation.
The agreement is an outgrowth of the increasing demand for the application of 4D seismic solution products as reservoir management and production optimization tools. The strategic agreement will focus on the high resolution, repeatability and rapid reservoir snapshot capabilities available from permanently installed wellbore VSP sensor arrays.
About 4th Wave Imaging
Based in Laguna Beach, California, 4th Wave Imaging is a new seismic R&D company that offers expert solutions and services for the oil industry in the areas of 4D time-lapse seismic reservoir monitoring and multicomponent shear-wave analysis and interpretation. The company is built upon the industry-wide reputation and skills of its four founders, recognized leaders in 4D seismic analysis, imaging and inversion, with over 50 years of combined oil industry experience and a proven track record of conducting successful 3D and 4D seismic field data studies. The company's web site can be viewed at http://www.4thwaveimaging.com.
About Halliburton
Halliburton Energy Services provides products, services, and integrated solutions for oil and gas exploration, development, and production. Capabilities range from initial evaluation of producing formations to drilling, completion, production enhancement, and well maintenance - for a single well or an entire field. With more than 300 service centers in more than 90 countries, Halliburton possesses the global perspective that is increasingly important for energy exploration and production.
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, energy equipment, construction, and maintenance company. In 1999, Halliburton's consolidated revenues were $14.9 billion and it conducted business with a workforce of approximately 100,000 in more than 120 countries. The company's web site can be accessed at http://www.halliburton.com.
Contact
Zelma Branch
Halliburton Company
(p) 713.676.4371
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