| CATEGORY: AIM BULLETIN SECTOR: SOFTWARE & COMPUTER SERVICES |
ViaLogy on the money with Texan well |
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Wed 10 Feb 2010
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LONDON (SHARECAST) - ViaLogy, the signal detection technology developer servicing the oil and gas sector, said its track record of successful well location continued with the Permian Basin well in central Texas, USA.
ViaLogy delivered analysis via its QuantumRD technology 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 well, operated by Texan oil firm Vecta was drilled to a total depth of 8.175 feet and log analysis shows net pay from multiple zones, including stratigraphic Wolfcamp carbonates and the deeper Cisco sandstone.
‘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,’ said ViaLogy chief executive officer Robert Dean.
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