PGS sells PetroBank

Landmark Graphics Corp. has acquired PGS’ data management unit, including the PetroBank data repository, for $179 million cash.

Halliburton unit Landmark Graphics Corp. has signed a definitive agreement to acquire PGS Data Management, a division of Petroleum Geo-Services ASA (PGS). The acquisition will fill a gap in Landmark’s product by intro-ducing a Master/Corporate Data Store capability. Landmark will also gain a foothold in strategic National Data Repositories in Brazil, Norway, Russia and the UK, where PGS flagship product PetroBank is deployed.

Top dollar

Landmark has paid $179 million for the PGS unit, a high figure according to some insiders. Landmark’s president and CEO, John Gibson told PDM that he considers this a “fair” price in view of the strategic nature of the acquisition. In the future, Landmark will supply data management and distribution services to PGS and its affiliates.


Halliburton president Dave Lesar said “Distributed access to data is the cornerstone of the e-business model in the petroleum industry and is the competitive differentiator for many of our customers. The addition of the PGSDM technology and solutions lines of business will result in expanding Halliburton’s offerings of important know-ledge based services to the petroleum industry to meet growing customer demand.


The PetroBank web-based GIS provides entitlement control and secure browsing, selecting and ordering of E&P data down to the seismic trace level. PetroBank was originally developed by IBM and uses IBM technology for robotic storage. Current PetroBank installations total over 90 terabytes of online data, providing coverage of 250,000 square kilometers of PGS’ seismics.


Both PGS and IBM before them were unsuccessful in convincing corporate clients of the need for PetroBank, and faced stiff competition from GeoQuest’s Finder. Earlier this year, Landmark announced a deal with Seismic Resolutions to develop a robotic solution for seismic data management. The PGS acquisition adds a significant installed base and demonstrates a data management capability from repository to workstation. See PDM’s exclusive interview with John Gibson on page 4 of this issue.

Click here to comment on this article

Click here to view this article in context on a desktop

© Oil IT Journal - all rights reserved.