Fugro grows!

Fugro continues its acquisitive binge with the purchase of Dallas-based petrophysical software house Petcom Inc.

Jason Geosystems, part of Fugro’s Geoscience division is to acquire Dallas-based Petcom Inc. in a $3 million cash transaction. The current Petcom owners and original founders have agreed to continue their commitment as Petcom’s management team. Petcom was founded in 1992 and offers petrophysical services and software.


Petcom’s Windows-based software portfolio includes the PowerLog package for single and multi-well log analysis and Statmin, a statistical program that calculates lithology, mineralogy, and porosity. Petcom is a member of the GeoStar Solutions alliance of smaller upstream software vendors.


Petcom’s software will be coupled with Jason’s Rock Physics and 3DiQ reservoir characterization tools. Petcom employs a staff of 8, and had a net revenue of $1.6 million in 2001. In a separate deal, Fugro’s UK unit has acquired Foundation Exploration Services geo-technical consulting group in a £4.1 million deal. More from www.fugro.nl and www.pectominc.com.

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