Landmark acquires Neftex Petroleum Consultants

Landmark Software and Services, a Halliburton business line, has acquired Neftex Petroleum Consultants Ltd, a UK-based company specializing in sequence stratigraphy-based products and consulting for subsurface risk reduction.

Aug 1st, 2014

Offshore staff

HOUSTONLandmark Software and Services, a Halliburton (NYSE: HAL) business line, has acquired Neftex Petroleum Consultants Ltd, a UK-based company specializing in sequence stratigraphy-based products and consulting for subsurface risk reduction.

Neftex’s 4D “digital model” of the subsurface is driven by a proprietary global sequence stratigraphy framework. This allows geoscientists to use a single global platform to search, discover, analyze, and integrate geoscience data and interpretations essential to understanding and managing subsurface risk.

The Neftex Earth Model integrates millions of data points to deliver a global overview of the geological history and resource development of the Earth. The Neftex Earth Model base module provides tectonic and stratigraphic data and framework interpretations to underpin regional exploration.

Additional Neftex Earth Model modules deliver supplementary licensed datasets for each region across the globe. This allows users to compare stratigraphic sequences for a particular basin with other basins around the world during the same time period. Users will be able to identify potential exploration prospects based not just in the basin of interest, but also within the context of a global framework reference.

Nagaraj Srinivasan, vice president of Landmark Software and Services, says, “The integration of the Landmark and Neftex technology suites will result in a digital subsurface representation that is uniquely tied to one stratigraphic model and delivered instantly for any region in the world. Customers should increase the reliability of their modeling efforts and accelerate the search for new reserves, a critical capability in driving upstream business performance.”

By integrating data and interpretations from the Neftex Earth Model with Landmark’sDecisionSpace application platform, Landmark aims to improve customers’ ability to explore more prospects faster and to obtain subsurface insight to better predict the probability of drilling success.

08/01/2014

More in Geosciences