Fugro buys Volumetrix (May 2003)

Fugro buys Volumetrix (May 2003)

Fugro unit Jason Geosystems has acquired UK-based Volumetrix—including the FastTracker reservoir modeling package.

Jason Geosystems, part of Fugro’s Geoscience division, has purchased Volumetrix—the reservoir modeling software house. UK-based Volumetrix’ flagship product ‘FastTracker’ is described as a ‘next-generation’ reservoir modeling tool which produces a fast, interactive reservoir model. FastTracker supports the ongoing change management requirements of lifecycle reservoir development through its ‘UpdateAbility’ concept. This allows users to harness the constant flow of new data and insight that result from drilling and production operations.

Integration

Jason plans to integrate FastTracker with its 3DiQ Reservoir Characterization software suite. Volumetrix will become an integrated part of Jason Geosystems. All current key employees have agreed to continue their employment. Volumetrix’ origins go back to Sperry-Sun and Dresser and an old BP Alaska project - ‘Decision Driven Reservoir Modeling.’ Last year Landmark’s GeoGraphix unit acquired ‘worldwide distribution and marketing rights’ over FastTracker (see Oil ITJ Vol. 7 N° 2).

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