NEOS GeoSolutions Exhibiting at SEG 2012
NEOS GeoSolutions, Inc. today announced that it will be exhibiting at the 82nd annual meeting of the Society of Exploration Geophysicists (SEG), a non-profit organization that promotes the science of applied geophysics and the education of geophysicists. This year's conference is being held November 4-9 at the Mandalay Bay in Las Vegas.
For this upcoming conference, NEOS and Denver-based Transform Software & Services have teamed to co-promote the applications of predictive analytics methodologies in oil & gas exploration. Given the number and sheer size of the datasets available to oil & gas geoscientists, the E&P industry is a rich area in which to apply analytically driven, multi-measurement interpretation methods to identify exploration targets and shale sweet spots at both regional and local scales, and in both conventional and unconventional plays.
In advance of the SEG, NEOS CEO Jim Hollis and Transform President Murray Roth have co-authored a white paper entitled, Predictive Analytics Methods Take Hold in E&P, which illustrates how these statistical techniques are being used to mine multiple geoscience and engineering datasets for patterns and insights that lead to better exploration and drilling decisions.
According to NEOS CEO Jim Hollis, “The goal is to identify the subtle indicators that correlate with the best wells in an unconventional shale play or with known fields in a conventional play. NEOS and Transform geoscientists have developed the algorithms, tools, and methodologies needed to mine all available datasets to identify these same indicators in unexploited areas, which represent potential targets for new wells and/or further exploration.”
At the SEG, NEOS and Transform will bring the predictive analytics theme to life on their respective booths through both technical presentations and jointly sponsored promotional games, encouraging participants to “Hit the Sweet Spots” and “Take AIM at New Targets.” All proceeds raised from this game will be donated to Geoscientists Without Borders, a program sponsored by the SEG Foundation and designed to support the humanitarian applications of geoscience around the world.
To learn more about predictive analytics in oil & gas exploration, download the co-authored white paper: tinyurl.com/NEOS-Transform-white-paper and visit NEOS at booth #1176 if you will be attending the SEG annual meeting.
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.
Stephanie Aleixo, +1 713-425-0509