DENVER--(EON: Enhanced Online News)--NEOS GeoSolutions, Inc. today announced that it has secured underwriting for a multi-client, integrated geological and geophysical program in Colorado, the second project NEOS has undertaken in the state this year. This newly announced neoBASIN™ project covers 3,000 square miles over the Denver-Julesburg (D-J) Basin, a sedimentary basin that reaches its deepest point near Denver and then extends northward into southeastern Wyoming and the western parts of Kansas and Nebraska.
NEOS’s Denver-Julesburg geoscience program has been designed to provide a regional view into the subsurface from the basement through the target reservoir intervals, including the liquids-rich Niobrara shale. By applying an advanced geostatistical technique known as predictive analytics, NEOS will be working on behalf of the project’s underwriters to identify the geological and geophysical measurements and attributes that correspond to the best producing wells in the area of investigation and to determine where similar areas occur in less developed parts of the survey area.
Lance Moreland, Director of Rockies Programs for NEOS, commented, “We’ll be acquiring new airborne geophysical datasets – magnetic, electromagnetic, radiometric, and gravity –and integrating these with existing seismic and well information. We’ll analyze all of the acquired datasets individually, but also interpret them simultaneously to determine the measurements, attributes, and derivatives that correspond with the best wells in the basin. Our predictive analytics methodology will then ‘pattern search’ for these same measurements in less developed parts of the area being studied. This is our standard neoBASIN workflow, though we’ll tailor it slightly to test some of the specific hypotheses operators have about the drivers of Niobrara productivity, including basement topography, basement faulting, and regional intrusive activity.”
The neoBASIN survey is being executed under a multi-client commercial model. The window for late underwriters will close on January 15, 2014. Final results should be available to the project underwriters in the first half of 2014.
To learn more about NEOS’s multi-measurement methodology for oil & gas exploration and development, read the white paper at: tinyurl.com/MMI-WhitePaper.
To learn more about NEOS’s regional imaging programs in the D-J, Piceance, and Sand Wash basins of Colorado, visit: tinyurl.com/neos-Colorado.
About NEOS GeoSolutions
NEOS helps exploration teams in the onshore oil & gas and mining industries make faster, more informed decisions about where to explore, lease and drill. In partnership with its clients, NEOS acquires and simultaneously interprets multiple geological, geophysical, and geochemical datasets to identify hydrocarbons and minerals in the subsurface. The company is backed by a group of internationally recognized investors, including Bill Gates, Energy Capital Group, Goldman Sachs, Kleiner Perkins Caufield & Byers, and Passport Capital. For more information, visit www.neosgeo.com.