ARK CLS and Earthworks joint software development agreement
Friday, 25 May 2007 09:47
ARK CLS and Earthworks sign joint Software Development Agreement.
ARK CLS, the software engineering company, and Earthworks Environment & Resources Ltd, the geophysical and geostatistical services company, are pleased to announce that they have signed a joint agreement for the commercial development of Earthworks’ UltraFast MPSI™ Stochastic Inversion Technology. The joint agreement brings together the software engineering excellence and reputation of ARK CLS and the geoscience technology and innovation of Earthworks’ to develop the commercial release of this innovative stochastic inversion technology.
Earthworks’ MPSI™ Stochastic Inversion Technology has been in continual development since 2001 and entered service work in 2003. It has been used successfully on over a dozen pre- and post-stack seismic inversion studies to date. The planned first release will include 3D geostatistical model building, error grid constraints as well as the post-stack deterministic and stochastic inversion technology. In addition, utilities for processing stochastic inversion realizations to generate seismic probability volumes for constraining reservoir models will also be included.
With development already well advanced, interest parties will be able to see the new software in action at the EAGE conference in London in June 2007, on both the Earthworks and ARK CLS stands.