LMKR and Object Reservoir Join Forces to Help Optimize Unconventional Gas Shale Development
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DUBAI, United Arab Emirates, April 10, 2011 - LMKR, a global geoscience technology and consulting services provider focused on resolving the challenges associated with unconventional oil and gas exploration and production, today announced a strategic partnership with Object Reservoir, a provider of leading-edge reservoir analysis services and technology to the global E&P industry. LMKR and Object Reservoir will work together to close the workflow and data integration gaps among the different geology, geophysics and engineering disciplines. These gaps result in unacceptable ranges of production and capital spending uncertainty, related to the development of gas shale plays.
LMKR will develop technology to integrate seamless workflows, as well as reservoir characterization, well, completion and production data exchange between: the LMKR GeoGraphix® Discovery Suite for geology and geophysical interpretation, the Object Reservoir ORKA(TM) knowledge architecture environment for the management of unconventional gas well analyses, and the Object Reservoir Limits(TM) analytic modeling and production forecasting tool for shale gas wells.
"There are two issues often associated with working unconventional gas plays: either too much gas is being left behind in reservoirs or excessive capital is being spent to extract the gas," said LMKR Chairman and CEO, Atif Khan. "LMKR and Object Reservoir have a solution to minimize the uncertainties associated with unconventional gas plays. We will be playing a very important role by helping geoscientists, petroleum engineers, joint venture partners, reserve auditors, and investment bankers model numerous "what-if" scenarios of highgrading, development, capital investment, and valuation for shale gas plays."
"Shale gas operators and investors have been asking for reliable production analysis and modeling, based on rigorous science approaches, for a long time," said Dan Piette, CEO of Object Reservoir. "LMKR and Object Reservoir are working together to reduce uncertainties in optimizing well completions and spacing, allowing stakeholders to prioritize the use of development capital. Together, we are committed to providing reliable answers to the questions: 'should we invest in this unconventional gas play?' and 'how do we rapidly and profitably monetize the investments we make?'"
About Object Reservoir
Object Reservoir Inc. is a provider of leading-edge reservoir analysis technology and services to the global E&P industry. The company's Resolve® finite element modeling, Limits(TM) advanced shale analytics, and ORKA(TM) shale knowledgebase technology are defining advanced workflows for analysis of shale well performance, leading to reliable forecasts of production and recovery factors from early production data.
Headquartered in Houston, Texas, Object Reservoir has its technology and software development center in Austin. For more information on Object Reservoir, visit www.objectreservoir.com .
About LMKR
LMKR provides mobile technology solutions, data services, geoscience and data management consulting solutions to oil and gas operators, geoscientists and investors in order to lower the risk associated with unconventional oil and gas exploration and production. LMKR is committed to its vision of providing a reservoir-centric interpretation, modeling and analytics solution that can be shared anytime, anywhere with fit-for-purpose technologies. The LMKR GeoGraphix Discovery Suite is the industry's most complete and integrated Windows-based geology and geophysical integration system. LMKR services more than 22 countries and is headquartered in Dubai, U.A.E. For more information about LMKR, visit www.lmkr.com .
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SOURCE LMKR
Web Site: www.lmkr.com
