Vialogy Plc (LSE:VIY), the signal detection technology developer whose QuantumRD software is used for oilfield surveys, today announced another successful well completion in the Permian Basin in Central Texas. ViaLogy delivered analysis that chose the position of the well to penetrate two pay zones: the Wolfcamp carbonate formation at 5,800 feet and the Cisco Canyon sandstone formation at 7,780 feet. The latest result follows on from a success for ViaLogy in January on the Andrews County prospect in Texas.
ViaLogy was founded in 1999 as a spin-off of the NASA Jet Propulsion Laboratories operated by the California Institute of Technology. It is a leading innovator of network-centric, real-time signal processing platforms for sensor applications. The QuantumRD active signal processing technology is used to help clients in the upstream oil and natural gas sector accurately locate and size hydrocarbon deposits. It provides subsurface characterization based on the systematic fusion and analysis of geoseismic and geological data, production history and reservoir flow models.The technology is able to exploit all seismic frequencies, and said to be able to extract significantly more information from seismic data than other analytical methods.
This latest result marks ViaLogy's first success for its client, Vecta in a project that will stress ViaLogy's technology in difficult hydrocarbon zones. Using QuantumRD, the Company says that it accurately positioned the well, predicted multiple pay zones and their porosity. ViaLogy CEO Robert Dean said: "We are pleased with our continued positive track record of successful wells. Keep in mind that each of our applications of QuantumRD thus far, including this continuing work for Vecta, has been against a very difficult reservoir characterization problem. I believe this will extend the reach of our technology and further validate it".
