HOUSTON--(BUSINESS WIRE)--NEOS GeoSolutions, Inc. today announced the introduction of the second generation of its neoSCAN™ offering, a geoscience data integration and analytics solution designed for the rapid, low-cost delivery of many of the fundamental interpretive products geoscientists require to explore, appraise and develop prospective oil & gas acreage in any price environment.
The neoSCAN helps geoscientists get the most value out of their legacy investments in geological and geophysical (G&G) data through an offering that integrates an E&P operator’s existing, in-house geo-datasets with additional multi-physics datasets that NEOS can quickly and inexpensively obtain from a variety of sources.
Chris Friedemann, Chief Commercial Officer for NEOS, stated, “The neoSCAN is ideally suited to our current world of $50 oil and reduced capital spending. Because no new geophysical data acquisition is required with a neoSCAN, we can deliver a rich set of interpretive products – including 3-D subsurface models and maps of faults, intrusions and basement topography and composition – in fewer than 100 days and for less than 50 cents per acre ($125 per square kilometer). Perhaps best of all, we still employ our proprietary predictive analytics methods on all neoSCAN projects. This allows us to develop rich insights into the G&G attributes that are associated with known fields or sweet spots in the area of investigation. By searching for these same correlative attribute suites in under-explored areas, the neoSCAN helps our clients to highgrade acreage and to focus scarce financial and human resources on the most prospective parts of the oil & gas play being assessed.”
The interpretive products generated on a neoSCAN typically include:
- Assessments of basin-scale geologic trends
- Maps of basin architecture and regional structure
- Maps of key lineaments, regional fault systems, and intrusions
- 2-D and 3-D structural and stratigraphic models
- Maps of basement topography, faulting and composition, and the role these geologic features played in field location and type (gas vs. oil)
- Assessments of relative acreage prospectivity derived using predictive analytics.
A neoSCAN project can be executed either onshore or offshore and for either conventional or unconventional plays. Typical areas of investigation range from 2,000 to 6,000 square miles (~5,000 – 15,000 square-kilometers), although some projects have been scoped and delivered at the country scale.
The datasets that are integrated and interpreted on a neoSCAN project include: 2-D and 3-D seismic; well log and core information; gravity, magnetic, radiometric (and, where available, electromagnetic and magnetotelluric) measurements; and remote sensing data, including satellite multi-spectral, LIDAR (Light Detection and Ranging) and SRTM (Shuttle Radar Topography Mission).
Friedemann closed by adding, “We know the industry is cyclic and that explorers need to continue exploring, even in a $50 oil price world. The neoSCAN allows geoscientists to continue assessing the hydrocarbon prospectivity of large areas such that, when opportunities for acreage or corporate acquisition present themselves, or the commodity cycle turns to the upside, they’ll have the insights they need to deliver.”
To learn more about the neoSCAN, visit: neosgeo.com/solutions/neoscan.html.
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.