NEOS GeoSolutions Launches Eco-Assurance Offering for E&P Companies

Supports Planning for Drilling and Hydraulic Fracturing Programs in Appalachia

HOUSTON--(BUSINESS WIRE)--NEOS GeoSolutions, Inc. today announced that it has launched a new Eco-Assurance™ solution for oil & gas companies who are seeking additional insights related to surface and near-surface geologic conditions when planning their drilling and hydraulic fracturing programs. Although designed for E&P companies operating in Appalachia, the Eco-Assurance solution can be implemented in almost any natural resource exploration and development setting.

Carl Kincheloe, Director of Appalachian Programs for NEOS, commented, “E&P operators in Appalachia face significant scrutiny when conducting their drilling, fracing, and production activities. The Appalachian Basin is an active hydrocarbon system in which gas has been migrating towards the surface along naturally occurring faults for millions of years. Some of this gas has become trapped in shallow structures which are very difficult to see on seismic and which E&P operators wish to avoid when drilling down to deeper reservoir targets in the Marcellus or Utica shales. Other geo-hazards that operators want to be aware of include the location of faults in the shale intervals that can reduce the effectiveness of fracing operations and a large number of orphaned wellbores throughout the region that were drilled decades ago, often pre-dating modern record-keeping systems that noted their locations.”

The NEOS Eco-Assurance solution makes use of hyperspectral, magnetic, and both passive-source and active-source electro-magnetic (EM) sensors. These geophysical measurements are acquired using both fixed-wing aircraft and helicopters and, after they are processed and interpreted by NEOS geoscientists, provide insights into:

• Shallow gas geo-hazards;
• Near-surface and reservoir-interval fault zones;
• Orphaned wellbore locations;
• Wetlands locations;
• Oil seep and gas plume locations on the surface;
• Pre-development conditions in local waterways and aquifers.

Mr. Kincheloe continued, “We have already delivered these insights on several projects in Appalachia. In fact, one of our clients presented their perspectives on the methodology and the value it provided at a Groundwater Protection Council (GWPC) forum last year. We sense the commitment all E&P operators have to conducting their exploration, drilling, and fracing operations with the utmost regard to the environment. It’s a privilege for NEOS to be able to support their commitment, even if in a small way.”

A copy of the case study presented at the GWPC form is available at:
tinyurl.com/NEOS-GWPC.

A narrated slideshow describing NEOS’s Eco-Assurance offering is available at:
tinyurl.com/NEOS-EcoAssurance.

About NEOS GeoSolutions

NEOS helps exploration teams in the onshore oil & gas and mining industries make faster, more informed decisions about where to explore, lease and drill. In partnership with its clients, NEOS acquires and simultaneously interprets multiple geological, geophysical, and geochemical datasets to identify hydrocarbons and minerals in the subsurface. The company is backed by a group of internationally recognized investors, including Bill Gates, Energy Capital Group, Goldman Sachs, Kleiner Perkins Caufield & Byers, and Passport Capital. For more information, visit www.neosgeo.com.