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LANDMARK GRAPHICS LAUNCHES RELEASE OF A GEOSTATISTICS MODULE FOR ITS STRATAMODEL PRODUCT
-Fully integrated module addresses the needs of most asset team geoscientists-
DALLAS, Texas - Landmark Graphics Corporation, a wholly owned business unit of Halliburton Company (NYSE: HAL), today announced the release of a geostatistics module for Stratamodel™ version 1998.6. This fully integrated, optional module of Stratamodel is a result of an October 2000 agreement between Landmark Graphics and Reservoir Characterization Research and Consulting, Inc. (RC)2, a wholly owned subsidiary of Veritas DGC Inc. (NYSE: VTS).
Stratamodel 1998.6 contains two major enhancements and additions. First, a new datum field in the seismic import feature allows the user to adjust the model's datum to be compatible with imported SeisWorks® project files. Second, geostatistics have been added to the Stratamodel product line through the (RC)2 module. This feature allows the user to perform data analysis, create variograms and simulate data into Stratamodel attributes.
"The cooperative working relationship we established last fall with the staff at (RC)2 has clearly produced the benefits for our customers that we anticipated," said John Gibson, Landmark's president and CEO. "As a result of this new release, our Stratamodel users are not only able to integrate different types of data, but they can also assess risks associated with development decisions."
The product's release to the market in less than six months was the result of a very aggressive, intensive development and testing routine. Industry experts in the field of geostatistics provided quality assurance and assisted in the deployment of this software. A usability study was also conducted on the software to improve the interface and make it easier for use by geoscientists with limited geostatistical background.
The software is designed to process associated input data and perform geostatistical simulations of geological and reservoir properties in Stratamodel's three-dimensional geocellular model. Simulation results can then be analyzed in the (RC)2 product to compare the results to the original input data. This provides Landmark with the ability to deliver a geostatistical module within Stratamodel that addresses the basic geostatistical needs of most asset team geoscientists. The module will be provided by (RC)2 and marketed by Landmark as an (RC)2 module.
"Stratamodel has a long standing reputation in the industry for providing leading-edge
3-D modeling capabilities on faulted models," said Bill Bashore, vice president, (RC)2 Technology. "Now, the combination of property modeling of the (RC)2 module in Stratamodel brings the best of both worlds together in 3-D reservoir characterization techniques."
Landmark Graphics is the leading supplier of integrated E&P technical and economic software and services to support decision making in 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 Graphics Web site at www.lgc.com.
Halliburton Company, founded in 1919, is the world's largest provider of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company's Web site can be accessed at www.halliburton.com.
Reservoir Characterization Research and Consulting (RC)2 is a wholly owned subsidiary of Veritas DGC Inc., a leading provider of integrated geophysical and geological technologies to the petroleum industry worldwide. (RC)2 is the recognized industry leader in the integration of diverse data types, especially core, well-log, well production and injection histories, well pressure data and seismic-based information. For more information, visit www.veritasdgc.com or www.rc2.com.
Contact
Rod Hotz
Landmark Graphics Corp.
Tel 281.368.5766 (U.S.)
Fax 281.560.1586
rhotz@lgc.com
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