Speaking at the London EAGE last month, CEO Martyn Millwood Hargrave, revealed that Ikon Science has sold 200 new licenses since last July. Ikon’s RokDoc is an integration platform for rock physics, inversion, reservoir characterization and geopressure. The next step for Ikon is ‘knowledge integration’ and the company is now in the process of building rock science ‘knowledge bases’ that will allow it to offer both software and content.
Another development is the addition of geomechanics to the toolset—leveraging technology acquired when Ikon bought JRS Petroleum. This completes what Millwood Hargrave refers to as the prediction ‘triangle,’ of rock physics, geopressure and geomechanics. The holistic approach is good both for explorationists and for companies that need to show best practices in stewardship of their assets, minimizing exploration risk.
Returning to the knowledge base theme, Millwood Hargrave stated that Ikon’s ambition is for global knowledge bases that will help reduce the industry’s dry hole count. ‘As a business, we have spent something like $70 trillion drilling dry holes over the last 30 years, an astonishing number. I believe that by mining the huge amount of data from thousands of wells will help us identify signatures and develop algorithms that combining seismics and dispersed regional databases. Software plus content is our mantra now.’ More from info@ikonscience.com.
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