Baker Hughes, CGGVeritas Collaborate to Help Shale Operators Drill More
Integration of seismic and drilling services identifies sweet spot, improves
HOUSTON, Nov. 5, 2012
HOUSTON, Nov. 5, 2012 /PRNewswire/ --Baker Hughes Incorporated (NYSE: BHI)
and CGGVeritas (NYSE: CGV, Euronext) announced today a collaborative
relationship to improve shale reservoir exploration.
Using reservoir models that integrate log-derived, near-wellbore geomechanical
and petrophysical properties from Baker Hughes with calibrated seismic data
from CGGVeritas, operators can optimize well placement and completion design
earlier in the asset lifecycle for more efficient well construction and more
Baker Hughes brings a broad portfolio of oilfield expertise and services to
the collaborative relationship, most notably its reservoir and production
engineering team and its Center of Reservoir Excellence (CORE) team focused on
unconventional resources. The company's proprietary geomechanical models and
JewelSuite™ reservoir modeling software use data from Baker Hughes' logging
and subsurface imaging tools to deliver decision support capabilities.
"Providing our customers with a more comprehensive view of their reservoirs to
accurately pinpoint sweet spots so they can make the most productive decisions
is a fundamental goal of the Baker Hughes' shale strategy," said Martin
Craighead, Baker Hughes' President and Chief Executive Officer. "We are
pleased to enhance that capability with the complementary CGGVeritas
CGGVeritas brings to the relationship a global market-leading position in
seismic data acquisition and geosciences, including differentiating
technologies for shale reservoirs characterization. These technologies include
Hampson-Russell software products and, with the acquisition of Fugro's
Geoscience division, will soon include Jason technologies for high-end
reservoir characterization and Robertson expertise in exploration and geology.
This complete portfolio enables optimization of project design, a compression
of project timelines and offers a comprehensive product for final
interpretation of key reservoir attributes.
Jean-Georges Malcor, Chief Executive Officer of CGGVeritas, said: "This
collaboration agreement is a very good example of our long-term strategy in
geosciences, and we are very excited to present our skills along with the
unique shale expertise of Baker Hughes."
While the long-range goal of the collaboration is to help operators optimize
full-field development projects, the initial phase focuses on integrating
near-wellbore log data with reservoir characteristics away from the well.
Baker Hughes is a leading supplier of oilfield services, products, technology
and systems to the worldwide oil and natural gas industry. The company's
58,000-plus employees today work in more than 80 countries helping customers
find, evaluate, drill, produce, transport and process hydrocarbon resources.
For more information on Baker Hughes' century-long history, visit
CGGVeritas (www.cggveritas.com) is a leading international geophysical company
delivering a wide range of technologies, services and equipment through
Sercel, to its broad base of customers mainly throughout the global oil and
gas industry. CGGVeritas is listed on the Euronext Paris SA (ISIN: 0000120164)
and the New York Stock Exchange (in the form of American Depositary Shares,
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SOURCE Baker Hughes
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