Ikon Sciences acquires Geopatterns technology

Ikon Science has acquired Geopatterns' software tools, patents, and technology from Chroma Energy.

Offshore staff

HOUSTON -- Ikon Science has acquired Geopatterns' software tools, patents, and technology from Chroma Energy.

The GeoPatterns software products, which have been marketed under the product names ChromaPatterns and ChromaVision, are a seismically driven, pattern recognition system for the rapid identification and high-grading of drillable prospects. Using patented technology developed originally from genome data analysis, any 3D seismic dataset can be rapidly "mined" for patterns of attributes that identify particular geologic characteristics.

Ikon plans to integrate pattern recognition, data mining, and visualization technologies into its established predictive interpretation workflows to characterize play concepts, identify missed pay, and delineate more meaningful connected geobodies. According to Ikon, these new, rock physics integrated workflows will generate more ideas, accurately delineate smaller targets in complex environments, and in turn, advance play concepts from leads to de-risked prospects.

"We are pleased to have concluded this asset purchase," says Dave Markus, VP of operations in Ikon's Houston-based services center. "The tools and technology that we have acquired from Chroma Energy will fit well into our advanced predictive interpretation workflows and will enhance our abilities to deliver high quality prospects and high value results to our clients, faster than before. We are also pleased to have brought on board the majority of the existing GeoPatterns personnel."

06/25/2008

More in Equipment Engineering