Saturday 21 November 2009

Geo-Logic Systems, bought by Halliburton

Halliburton has recently acquired Geo-Logic Systems, the producers of Lithotect, the balancing and restoring software. It has been announced in several E∓P websites, and also in the corporative websites of both companies:

On Tuesday, October 27, Halliburton announced its acquisition of Geo-Logic Systems, LLC. “The industry faces increasingly difficult exploration and drilling scenarios,” said Paul Koeller,Hal liburton’s vice president of Software and Asset Solutions. “The integration of Geo-LogicSystems offers ge oscientists advanced modeling solutions to address the technical challenges of exploring in complex petroleum regimes such as overthrust belts and the pre-, syn- (including sub-salt) and post-ri ft portions of extensional basins. In these complicated, poorly imaged plays risk reduction is of paramount importance.”

That is probably a big step for Lithotect, a great piece of software. Now, being part of such a huge company like Halliburton, surely the rivarly with MVE's Move (formerly know by its different components: 2DMove and 3DMove) will tight up, and this will be clearly in benefit of the customers.

Halliburton owns already the giant of seismic software, Landmark, and this acquisition points out to the direction that E&P is taking in the last years: Structurally complex scenarios, fold and thrust belts, deep water belts, sub-salt environments, etc, which need serious expertise on structural geology and risk reduction. Well, let's revisit our notes and books because there is a lot of hard work waiting for us...

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