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Austin GeoModeling, Inc. Announces Issuance of US Patent for 3D Geological Interpretation |
AUSTIN, TX, August 22, 2011 – Austin GeoModeling, Inc (AGM) announced today the issuance to it by the US Patent Office of a patent that covers its next-generation 3D geological interpretation technology. The patent for invention number 7,986,319 B2 is for a method and system for dynamic, three-dimensional geological interpretation and modeling. “This patent describes our integrated 3D geological interpretation software, designed to enable geoscientists to work more efficiently, which improves the accuracy of their oil & gas subsurface reservoir interpretations,” said Robin Dommisse, CEO, AGM. “We are very proud of this patent, since it encompasses the numerous innovations we have introduced in the field of geological interpretation software development“, he said. The patent covers the unique workflows in AGM’s Recon® software and its underlying Cascade Technology®, consisting of a unique way to automate day-to-day cross-section and map generation tasks for oil & gas reservoirs. The patent further covers the creation of recursively conformable stratigraphic frameworks within 3D structural fault-block definitions, while using stratigraphic termination rules. Within this 3D structural framework, geoscientists can generate zones containing attributes such as average porosity, net-to-gross and facies values. The 3D horizons, faults, and zone averages are automatically updated as new data is added. Utilizing AGM’s patented technology results in significantly faster interpretation cycle-times, which is particularly useful for real time horizontal well log interpretation in both conventional and unconventional oil & gas reservoirs. “Today’s marketplace is transitioning from traditional 2-D methods to more advanced, integrated 3-D geological interpretation workflows,” said Tron Isaksen, President, AGM. “On the strength of our technology covered by this patent, we are anticipating increasing revenues as the industry moves to adopt dynamic 3D geological software solutions more broadly.” Demand for interactive, easy-to-use geological interpretation technology and services is growing rapidly as more oil & gas companies seek to lower the risks associated with exploration and production, and pursue increased efficiencies and streamlined operations to increase their hydrocarbon reserves. AGM’s Recon software is used worldwide by a variety of energy companies, including super-majors, national oil companies, and independents. For more information on AGM’s innovative new technologies, please visit our website at www.focusongeology.com. Contacts |