12 Apr 2013 07:00
ViaLogy Plc
CHEVRON CONTRACTS VIALOGY FOR PRECISION SUBSURFACE MAPPING IN DELAWARE BASIN
London, UK April 12 2013. ViaLogy PLC (LSE/AIM: VIY) Chevron (www.chevron.com) has expanded ViaLogy's work in the US Delaware Basin, tasking the Pasadena-based energy technology company to precisely map subsurface reservoirs for horizontal drilling that are well below the resolution of 3D seismic.
Over the years, Delaware Basin operators have typically developed field models and stratigraphic sequences for hydrocarbon bearing reservoir bodies based on the outcomes of previously drilled wells. In a new direction, ViaLogy is applying QuantumRD to map the areal and vertical extant of these preferred geologically constructed sequences from seismic data to support more targeted exploration and development opportunities. This new capability extends the reach of QuantumRD to tease out zones of interest that are below seismic resolution.
Achieving resolution on this scale could enable construction of synthetic solid field reservoir models of high precision not seen thus far in the industry. The significance of the work is that it could enable design of horizontal well trajectories that produce with maximum efficiency. CEO Robert Dean of ViaLogy said, "Chevron continues to provide ViaLogy cutting edge work that could prove enormously significant for us as a company if it can be completed to our client's satisfaction. Our goal is of course is to expand the use of QuantumRD throughout the Delaware Basin area."
ViaLogy PLC
Terry Bond, Chairman - UK & Europe +44 (0) 1235-834734
Nominated Advisor and Broker to ViaLogy PLC (Seymour Pierce)
Mark Percy/Catherine Leftley, Corporate Finance +44 (0) 20-7894 7000
Katie Ratner/David Banks, Corporate Broking +44 (0) 20-71894 7000
About ViaLogy:
ViaLogy provides reservoir characterization, geophysical imaging and hydrocarbon sizing services to global oil and gas customers based on proprietary, patented active signal processing technology. ViaLogy's QuantumRD platform assists clients in de-risking prospects over a broad range of subsurface lithologies and complex stratigraphies to generate drilling targets, position offsets and enhance recovery. ViaLogy's core technology rapidly and accurately detects weak signals buried in high noise background and clutter, and is applicable to active/passive seismic, electromagnetic and magneto telluric data. By exploiting normally disregarded noise variations induced by changes in porosity, fluid presence and permeability across the formation, and adding computer-designed noise to the data, ViaLogy is able to amplify subtle noise variations to enhance areal and depth resolution in complex lithologies that are not achievable through conventional means. For more information on ViaLogy, visit www.vialogy.com