As forecast in PDM Mike Zeitlin has left Texaco to become President and CEO of Magic-Earth, the new home for the GeoProbe. Texaco retains 25% of Magic Earth’s capital, the rest is held by Magic Earth employees and other investors.
Texaco’s VP and Chief Technology Officer James Metzger said "our agreement with Magic Earth will enable GeoProbe’s significant capabilities to be further developed, while preserving our access to this powerful exploration and production tool. We believe a highly focused `Silicon Valley'-type company, such as Magic Earth, provides the best environment to speed the development of GeoProbe and to leverage our technological edge in the global energy arena."
GeoProbe (see PDM Vol. 4 N°11) allows users to interpret enormous data volumes and has been used by Texaco since 1997 on over 100 projects.
GeoProbe works with a variety of industry formats such as GoCad, VoxelGeo and SEG-Y and runs on anything – so long as its Silicon! Top of range engines such as Onyx2, Octane or Indigo2 are requisites. Zeitlin, enthuses "GeoProbe is the most powerful interpretive environment currently available to the energy industry. GeoProbe moves as fast as users do and takes advantage of the new immersive visualization centers in use today. Magic Earth is dedicated to innovation and the rapid development of products that will change E&P workflows."
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