|
|
|
LANDMARK AND 4TH WAVE IMAGING SIGN AGREEMENT TO DEVELOP 4-D SEISMIC SOLUTIONS FOR RESERVOIR MONITORING
-New tools support and improve reservoir management-
DALLAS, Texas - Landmark Graphics Corporation, a wholly owned business unit of Halliburton Company (NYSE: HAL), today announced the signing of a multiyear agreement with 4th Wave Imaging Corporation of Laguna Beach, California to jointly develop 4-D seismic solutions that support exploration and production (E&P) reservoir management decisions. Landmark and 4th Wave will work together to further develop and commercialize proprietary 4-D cross-equalization technology recently licensed from Chevron Petroleum Technology Company.
"We are very pleased to form this partnership with 4th Wave Imaging, which will allow us to deliver state-of-the-art 4-D seismic solutions to the industry," said John Gibson, Landmark's president and CEO. "The availability of these leading-edge technologies will greatly assist our customers in maximizing their reservoir productivity and recovery."
4-D seismic technology uses multiple 3-D seismic surveys, acquired over time, to monitor fluid flow and pressure changes in oil and gas reservoirs. Application of 4-D seismic technology enables E&P companies to monitor reservoirs and help them identify bypassed reserves. Leveraging 4-D to improve reservoir management decisions will optimize the return on an oil-producing asset.
"Collaboration between geoscientists and reservoir engineers is critical to meeting the technical challenges of reservoir management," said Murray Roth, Landmark's vice president of exploration and development systems. "Landmark is uniquely positioned to help its customers maximize the value of 4-D technologies by providing a broad offering of integrated solutions, from seismic to simulation, which enables collaboration between disciplines."
"4th Wave Imaging is developing breakthrough technologies in 4-D seismic using advanced imaging and inversion techniques to help resolve key reservoir management decisions," said David Lumley, 4th Wave president and CEO. "We look forward to working with Landmark and delivering our state-of-the-art solutions to the industry."
Landmark is the leading supplier of integrated E&P technical and economic software and services to support decision making about finding, drilling and producing oil and gas. Knowledge-based E&P companies now are turning to Landmark for technical-to-business (T2B ) process integration to improve returns on their investments. Visit the Landmark Web site at www.lgc.com.
Founded in 1919, Halliburton Company is the world's largest 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 World Wide Web site can be accessed at www.halliburton.com.
4th Wave Imaging is a new seismic R&D and services company that offers expert solutions to the oil industry in the areas of 4-D time-lapse seismic reservoir monitoring and multicomponent shear-wave analysis and interpretation. The company is built on the industry-wide reputation and skills of its four founders who are recognized leaders in 4-D seismic analysis, imaging and inversion with over 50 years of combined oil industry experience and a proven track record of conducting successful 3-D and 4-D seismic fields. Visit the 4th Wave Imaging Web site at www.4thwaveimaging.co.
Contact
Rod Hotz
Landmark Graphics Corporation
Tel 281.368.5766
rhotz@lgc.com
Back to Top
| |
|
