Seequent’s purchase of Geosoft promises to create an industry standard offering for 3D geoscience modelling and visualisation software.
Visual data science software developer Seequent has bought geoscience software company Geosoft. Seequent’s work with geoscience and exploration data-driven technology can help a company rapidly create and test models.
“Visualisation of geological, geophysical and reservoir engineering data is critical in the oil and gas industry. Subtle changes in structural and stratigraphic interpretations can make the difference between success and failure in evaluating exploration prospects. Being able to visually interact with your data in 3D is now a mainstay of the oil and gas industry,” Seequent COO Graham Grant told InnovOil.
“Modelling directly from the data and being able to automatically create volumes from this will streamline an often-cumbersome process. This combined with powerful non-seismic geophysical data modelling will provide innovative new workflows for the oil and gas industry.”
The acquisition will allow Seequent to combine Geosoft’s geoscience data with its own Leapfrog 3D geological modelling software suite, which is used by civil engineering, environmental and geothermal energy industries to manage project risks.
The Leapfrog 3D geological modelling solutions are designed to analyse geological data to help geologists and executives make informed investment and environmental decisions. Seequent provides versions for the geothermal and energy industries, mining and minerals, and civil engineering and environmental industries, as well as other visualisation and collaboration technologies.
“Leapfrog offers customers direct from data modelling, which allows users to bypass wireframing or geocellular modelling to build and update models significantly faster. Multiple models can also be easily evaluated to improve geological understanding by duplicating models to test various hypotheses,” Grant said.
Geosoft’s products include the Oasis montaj technology platform, “an industry standard within the geosciences, supporting advanced analysis and understanding of the Earth’s subsurface and subsea environments”.
Geosoft also offers Target for ArcGIS software, a geological application for Esri that delivers essential workflows for geoscience and GIS professionals working on the ArcGIS platform, and VOXI Earth Modelling, which enables high performance geocomputing and 3D geophysical inversion modelling in the cloud, Grant added.
Grant said that Geosoft’s position as the accepted industry standard in non-seismic geophysics made it desirable to an innovator like Seequent. “Bringing these two like-minded and leading geoscience specialists together was an obvious combination to offer a greater range of solutions for our customers around the globe,” he said.
“Seequent has created an unparalleled subsurface offering for the mining, civil engineering, energy and environmental sectors with Seequent’s Leapfrog 3D geological modelling software suite and Geosoft’s subsurface geoscience and exploration data-driven technology.”
Combining Geosoft’s mapping and data-driven approach with Seequent’s modelling capabilities will allow customers to better handle the more varied and larger volumes of exploration data that are becoming more common in the exploration industry.
“Importantly, this will enhance our customer’s ability to gain critical insights to support their exploration projects,” Grant added.
“With diverse applications, the technology supports large-scale projects globally, including road and rail tunnel construction, groundwater detection and management, geothermal, oil and gas energy exploration, resource evaluation, subsea evaluation and subterranean storage of spent nuclear fuel,” Grant added.
As the oil and gas industry develops, the software used to support it will need to develop as well.
“Prospecting for oil and gas deposits is becoming more challenging as our customers are faced with exploring in new frontiers and conditions (i.e. deepwater, unconventional and pre-salt) and getting the most out of mature assets,” Grant said.
“More efficient integrated modelling of very large data sets, being able to utilise all available data, interrogating the data in 3D and digitally collaborating with exploration teams across the globe will be critically important in streamlining exploration and maximising value out of existing assets.”