IHS Energy Group has moved from acquisition to divestiture mode, judging from a recent deal with Geological Data Services (GDS) of Addison, Texas. IHS has sold the assets of its Reservoir Geology Division, including ReservoirID, its reservoir-geology database, to GDS. GDS develops and maintains subsurface, log-derived formation-top files. Formed in 1984, GDS has data files covering West Texas, the U.S. mid-continent, and several Rocky Mountain basins.
These files include more than 580,000 correlated wells and 270,000 additional uncorrelated wells. Other GDS products include the exclusive distribution of the Topographic Mapping Company’s digital land grid, and the construction of customized, proprietary-data files. Under the terms of the deal, GDS has an exclusive license to the ReservoirID data, which contains more than 100 parameters and calculations for each producing reservoir, including log-derived porosity calculations, water saturation levels and reservoir thickness calculations.
Nearly all of the data purchased is in the Anadarko Basin, located in Northwest Oklahoma and the Texas panhandle.
Bruce Smith, VP of U.S. Data Services with IHS said “The ReservoirID database is the covers nearly 45,000 well completions. This data supports GDS’ core business, so the sale made sense for both companies.”
GDS president Rick Haines added “The ReservoirID database and Reservoir Characterization Studies are tremendous contributions to the knowledge-base regarding the Anadarko Basin. The addition of these new data files to our existing database will enhance our clients’ exploitation and development efforts by allowing them to quickly determine re-completion and offset potential, as well as identify acquisition opportunities. In response to requests from our customers, we also plan to expand the Reservoir Characterization Studies to include other basins.” More from www.gdsdatamaps.com.
© Oil IT Journal - all rights reserved.