ARKeX and Ikon Science join forces to develop technology and services
April 12 2010, Cambridge, UK
ARKeX, the provider of geophysical imaging services and Ikon Science, the software developer and quantitative interpretation provider for the upstream oil & gas industry, have signed a cooperation agreement to facilitate the development and promotion of joint technology, services and studies that will help to de-risk complex exploration plays.
The new service is an integrated modelling workflow using Full Tensor Gravity Gradiometry (FTG) data, well information and 2D/3D seismic data in conjunction with Ikon Science's leading edge-rock physics technologies and reservoir characterisation workflows. The result will be an integrated 3D geological model with structure, stratigraphy and rock properties over target areas. The co-operation agreement with Ikon Science will enable both parties to leverage their respective expertise on projects and provide improved geological understanding on a prospect scale.
Combining the benefits of Gradiometry data with Ikon Science's rock physics calibrated workflows will create:
- New "sweet spotting" methods for oil and gas, shale gas and CBM
- New integration methods in reservoir modelling
- Methods for low cost 4D reservoir monitoring, including CBM
- Significant cost and effort savings, with reduced environmental impact
Commenting on the announcement, Ikon Science CEO, Martyn Millwood Hargrave said; " We are very pleased to progress our cooperation with ARKeX and look forward to developing joint studies and services which combine the benefits of FTG data with rock physic analysis."
Phill Houghton, ARKeX Vice President of Business Development commented; "Ikon's industry leading software and proven workflows in combination with ARKeX's BlueQube technology is an exciting prospect that will ensure that clients can maximise the benefits of complimentary data attributes Ikon was a natural choice for ARKeX and we look forward to working with them on various projects that have been identified."
About ARKeX
ARKeX provides geophysical surveys for the oil, gas and mineral exploration industry, using BlueQubeTM technology.
BlueQube is a cutting-edge technology that gives explorationists an accurate picture of subsurface geology. The key
technology in BlueQube is gravity gradiometry. It measures minute variations in the earth's gravitational field to
help image--from an airplane or ship-- oil, gas and mineral bearing structures deep underground. ARKeX, based in
Cambridge, UK, has offices in Sherington, UK, and Houston, USA, and has global operational capabilities.
www.arkex.com
About Ikon Science
Ikon Science develops software, tools and services to help oil and gas exploration professionals interpret subsurface data
quantitatively, to assess exploration and production risks and opportunities.
RokDoc® software is in global use with over 60 Oil Companies and Service organisations and Ikon Science provides
Quantitative Interpretation services and training to over 100 Oil Companies throughout the world.
Ikon Science, founded in 2001, employs over 80 people and has offices in London, Durham, Edinburgh, Houston, Boulder,
Kuala Lumpur and Perth, Western Australia.
www.ikonscience.com
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ARKeX Contact
Mark Champion, Marketing Manager
Tel: + 44 (0) 1223 427407
