Digitalcore and Numerical Rocks, announced at Geo 2012 that they have signed an agreement to merge and form a new company that will see them combine forces to offer their joint services worldwide.
Both companies are leading players in high-resolution core imaging and analysis.
The merger is subject to completion of documentation and satisfaction of conditions for this type of transaction. Dr. Odd Hjelmeland, currently CEO of Numerical Rocks, will serve as CEO of the new company while Dr. Victor Pantano, CEO of Digitalcore, will serve as COO.
Supporting client demand
Once formed, the new company will have offices in Trondheim Norway and Canberra Australia, serving a global market of clients in every major market in the world. Operations are planned for the Middle East and North America in the coming twelve months to support strong client demand for the merged company's comprehensive product offering.
At the forefront
"The combination of Digitalcore's unique core imaging and processing expertise with Numerical Rocks' multiphase flow modeling capabilities will place the merged company at the forefront of the digital rock analysis revolution" said Dr. Pantano.
e-Core analysis software
Dr. Hjelmeland, further explained "Our e-Core analysis software provides fast cycle times and accurate predictions of petrophysical and multi-phase flow properties based on 2D and 3D rock images. With Digitalcore's acknowledged leadership in advanced imaging technologies, our new venture will be unmatched in the oil and gas industry."
Dr Hjelmeland added that the new company has secured investment of USD$10mn to support expansion into the Middle East and the Americas.
Looking inside core samples
Digital rock analysis provides opportunities for oil and gas exploration teams and reservoir characterisation experts to look inside core samples recovered from wells, enhancing the understanding of pore scale mechanisms that govern rock properties and hydrocarbon recovery.
The process depends on accurately imaging the rock matrix and pore space, and computer-intensive flow simulations to predict the rock characteristics and fluid flow properties.
