HOUSTON--(BUSINESS WIRE)--NEOS GeoSolutions, Inc. today provided an update on its Colorado geoscience program, previously announced in May 2013. Phase I of airborne data acquisition – involving hyperspectral data – has been completed and data processing and interpretation are now underway. Phase II of acquisition – involving gravity, magnetic, electromagnetic, and radiometric measurements – is scheduled to begin within the next several weeks.
Anticipated deliverables from the Sand Wash neoBASIN™ project, encompassing Routt and Moffat counties in northwest Colorado, include:
- Maps of naturally occurring, surface-based oil seeps and indirect hydrocarbon indicators;
- Maps of surface-based ecosystems (e.g., waterways, farms, ranch lands, hot springs);
- Maps of basement topography and key structural and stratigraphic horizons;
- Basement-to-surface maps highlighting local faults and associated fracture networks;
- 2-D cross-sections and regional 3-D structural models of the subsurface;
- Maps of the key reservoir interval of interest, including an isopach, burial depth, and depth-to-basement map of the Niobrara;
- Regional resistivity voxels down to ~10,000 feet subsurface;
- Regional ‘sweet spot maps’ depicting the most (and least) prospective areas for leasing, drilling, and/or further G&G study and investment.
This particular neoBASIN survey is being executed under a multi-client commercial model. The window for late underwriters has been extended until November 15, 2013. Data should be available for license to non-underwriters in the first quarter of 2014.
Chris Friedemann, CMO and VP of Business Development at NEOS, commented, “We believe this survey will provide one of the only regional views into the subsurface in this part of the Sand Wash Basin. Several operators have recently announced their intent to reduce their acreage holdings and ownership positions in Moffat and Routt counties. Other E&P operators who may be interested in assessing the Sand Wash Basin for entry or expansion would be well served to license data from this neoBASIN survey as it will provide them with insights into regional geology and the drivers of enhanced well productivity in an underexplored part of the liquids-rich Niobrara shale play.”
To learn more about NEOS and the applications of multi-measurement interpretation methods for oil & gas exploration, visit: neosgeo.com/case-studies.
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.