Seisquare Blog

Geoscale Strategic Alliance Announcement

Posted by Victoria Belan on April 6, 2016
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Strategic alliance between Seisquare and GeoScale.

Seisquare and GeoScale are pleased to announce a strategic alliance that will enable new probabilistic workflows in the seismic-to-geomechanics space.

Uncertainty quantification and propagation is an integral part of our oil/gas field development workflows, with risk management applications from pre-stack seismic processing to reservoir property prediction and well planning.

This strategic alliance combines Seisquare’s market-leading stochastic software with GeoScale's patented reservoir modeling and geomechanics software. Together we aim to enhance exploration, appraisal, development and production of unconventional, fractured and conventional (deep-water) reservoirs.

The alliance’s goal is to provide software and streamlined solutions that allow uncertainty quantification to be carried through all geoscience domains via fast, iterative and automated workflows.

Asset Managers in upstream Oil and Gas Companies need assurances when making capital-intensive E&P decisions. Seisquare’s solutions dramatically improve the performance of G&G teams, resulting in subsurface predictions with maximum accuracy and quantified confidence intervals. Asset Teams use this information to increase their probability of success, maximize the ratio of reservoir production for each dollar of investment, and increase proven reserves.

In Deepwater and Unconventional reservoirs where geomechanical effects are especially critical, Seisquare brings an added dimension to well planning and geomechanics-driven reservoir characterization workflows by providing an objective assessment of parameter ranges and their confidence intervals when calculating pore pressures, stresses, and mud weights in GeoScale’s software.

“Oil companies and engineers have long wanted to work with multiple realizations during well and field development planning. However, there was no practical and consistent framework to handle uncertainties from seismic processing to geomechanics all the way to modeling and simulation. This will now be available through the GeoScale and Seisquare alliance”, said Elan Yogeswaren, CEO of GeoScale.

Luc Sandjivy, Founder and CTO said: “By incorporating Seisquare’s stochastic technology in GeoScale's patented reservoir modeling and geomechanics software, we can quickly distil vast amounts of data into actionable geomechanical analyses with quantified associated uncertainty, which reduces risk and cost and enhances production”.

About Seisquare

Seisquare is a Luxemburg / French company, providing services and proprietary software solutions to help oil and gas companies increase E&P success. We apply mathematically sound geostatistical principles developed and field tested for more than two decades, to rapidly characterize and propagate uncertainties throughout the seismic to reservoir simulation workflows. This results in probabilistic estimates of the subsurface that our customers use to improve E&P decisions linked to wellbore placement reserves estimation and field development planning in general.

For more information, visit www.seisquare.com.

About GeoScale

GeoScale provides services and proprietary software solutions for geology-driven, geomechanical, subsurface modeling as well as services for geomechanics-driven reservoir characterization. These solutions scale to be applicable for exploration, production and well engineering; and are based on advanced, patented algorithms specifically optimized for deep water and unconventionals, but additionally applicable to conventional plays. GeoScale’s geomechanical analysis and predictions use a number of highly advanced proprietary tools and workflows for the understanding of stress related behavior of basins, plays, reservoirs and potential well paths. This enables better planning and operational decisions and ultimately reduces costly drilling and completion problems and increases reservoir performance.

For more information, visit www.geoscale.com

 

Press Contact - Seisquare: François Mérer, Marketing Manager: +33 78 77 10 21 or send an email

Press Contact - GeoScale: Kevin Reilly, Vice President – Marketing & Business Development:

+1 281 782 8086 or send an email

Topics: Corporate news