HOUSTON - Landmark, a product service line of Halliburton's (NYSE: HAL) Drilling and Evaluation Division, has acquired the intellectual property and substantially all of the assets and existing business of GeoSmith Consulting Group, LLC of Minnetonka, Minn.
GeoSmith is widely regarded as one of the E&P industry's most innovative developers of software components for 3-D interpretation and geometric modeling applications, including robust topology engines capable of representing subsurface geology. Through the acquisition, Landmark will add GeoSmith's development team to its geoscience interpretation and modeling group. This will enable Landmark to rapidly integrate and deploy GeoSmith's technology within a broad range of Landmark offerings.
"Earth modeling is one of the most dynamic areas of the petroleum-exploration business," said Doug Meikle, vice president, Landmark. "By incorporating GeoSmith's technology into our software offerings, we will open the door to new earth modeling capabilities - a move that will provide E&P companies with a clearer picture of the subsurface and better risk assessment and field profitability."
Landmark is the leading supplier of software, optimized computing solutions and services for the upstream oil and gas industry. The company's software solutions span exploration, production, drilling, business-decision analysis and data management. Landmark offers a broad range of consulting, services and infrastructure technologies that enable customers to optimize their technical, business and decision processes. Visit the Landmark Web site at www.halliburton.com/landmark for more information on Landmark software, solutions and services.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With nearly 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir-from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's Web site at www.halliburton.com.