TGS-Nopec Geophysical Company has concluded its acquisition, for $11.25 million in cash, of the energy division of Houston-based NuTec Sciences. The acquisition provides TGS-Nopec with specialized pre-stack depth imaging technology—to be used to add value to TGS-Nopec’s spec data and to provide imaging services to oil and gas companies.
Supercomputer
NuTec has 25 employees and operates what is claimed to be one of the world’s fastest supercomputers. TGS-Nopec will continue NuTec’s third-party seismic processing services and Prima software licensing business which generated an operating profit of $2.5 million from turnover of $10.6 million in 2003.
Prima
Included in the deal is NuTec’s Prima seismic processing
and integrated multi-volume visualization tool. The visualization module is
a commercial application that is currently licensed to over 50 oil and gas companies.
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