Divestco expands its seismic processing and imaging software offering
Monday, May 14, 2012
Divestco Inc. ("Divestco" or the "Company") (TSX VENTURE:DVT) announces expansion of their in-house seismic data processing and imaging solutions with an agreement to acquire licenses for the use of Paradigm (www.pdgm.com
) technologies. With over 40 years in the seismic data processing and imaging business, Divestco's Seismic Data Processing division has developed best-of-breed processing technology and is a recognized leader in seismic imaging services. The addition of the Paradigm seismic data analysis suite will expand the division's offering to include near surface tomographic statics, modern Multi Component Processing and Imaging, Seismic Characterization and Interpretation, Velocity Model Building and Pre Stack Imaging Technologies. Overall efficiency and turnaround will be positively impacted through this expansion and customers will benefit from these modern technologies through a better understanding of their reservoir characteristics.
"Divestco Processing, formerly Geo-X Systems Ltd., built its reputation of full-range, high resolution, onshore seismic processing through its advanced processing algorithms and capacity. We chose the Paradigm technology for our customers' seismic data analysis requirements because of its open architecture, high levels of interactivity, and how it is constantly evolving to exploit the latest technological developments," said Steve Sinclair-Smith, Chief Operating Officer of Divestco. "The combination of our proven algorithms with Paradigm's modern workflow and versatility will ensure the product quality established over many years remains while offering an additional range of services for our customers."
The expansion of Divestco's offering to include Paradigm's product suite is consistent with the Company's strategy to leverage its strong foundation to offer enhanced services to customers. Divestco's core imaging technologies combined with this enhanced suite of seismic data processing technologies expands services to include any type of seismic data, marine or land, time or depth with solutions suited to both conventional and unconventional resources.
"We're delighted that a well-established company like Divestco has chosen the Paradigm platform to support its service operations," noted James Lamb, Executive Vice President Operations at Paradigm. "Its powerful compute capabilities and wide breadth of geophysical applications will help Divestco deliver quality seismic images to its customers and grow its business in Canada and around the world."
Divestco Processing will be featured at GeoConvention 2012 in Calgary, booth # 502, together with the rest of Divestco's geophysical products and services.
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