HOUSTON--(BUSINESS WIRE)--NEOS GeoSolutions, Inc. today announced that it has secured the underwriting needed to launch an integrated geological and geophysical program in a roughly 1,100 square mile area of the Austin Chalk, an Upper Cretaceous geologic formation that extends from the Rio Grande eastward through southeast Texas, central Louisiana, and southern Mississippi. The Eagle Ford and Tuscaloosa Marine shales underlie the Austin Chalk in many areas. The specific program area cannot be disclosed at present.
Lance Moreland, Director of Business Development for NEOS, commented, “We’ll be acquiring new airborne geophysical datasets – magnetic, electromagnetic, radiometric, and gravity – and integrating these with existing seismic and adjacent well information. This neoBASIN™ survey has been designed to provide high-value, basement-to-surface insights so that our lead underwriter can better evaluate possible play extensions and identify the most prospective locations for future exploitation and development.”
Anticipated project deliverables include:
- Assessments of basin-scale geologic trends
- Maps of basin architecture and regional structure
- Maps of key lineaments, faults and fault-driven fracture networks
- 2-D and 3-D structural and stratigraphic models
- Maps of basement topography and composition
- Resistivity voxels to 10,000 feet subsurface
- Maps of relative prospectivity and play potential
- Maps of certain rock properties and fluid distributions derived using predictive analytics.
While the neoBASIN survey is being executed under a multi-client commercial model, the lead underwriter has secured a period of exclusivity to evaluate the results before they are made available for license to others in early 2015.
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.