Ødegaard in Big Blue fold (May 2006)

Schlumberger has acquired Danish seismic inversion boutique Ødegaard A/S for an undisclosed amount. Copenhagen-based Ødegaard will integrate the Reservoir Seismic Services (RSS) division of Schlumberger’s seismic acquisition and processing unit WesternGeco. WesternGeco itself was also the object of a major transaction last month as Schlumberger acquired Baker Hughes’ 30% minority interest for $2.4 billion.

Boutte

WesternGeco president Dalton Boutte said, ‘By combining Ødegaard’s technical expertise with our high-resolution Q-Technology, we will be able to extend the value of seismic data in reservoir characterization and production management.’

ISIS

Ødegaard’s flagship ISIS package is a non-linear globally optimized seismic inversion technique that calculates high resolution acoustic impedance. ISIS delivers lithology cubes and fluid predictions based on amplitude versus offset (AVO) analysis. A 4D, time-lapse production seismic data version of ISIS is also available.

Maver

Oil IT Journal asked Ødegaard MD Kim Gunn Maver why WesternGeco needed more seismic inversion technology. Maver explained that WesternGeco’s technology was more of a service offering and less productized than Ødegaard’s solution. Maver said, ‘Clients also appreciate our fast project turnaround and sophisticated technology’.

Marketing

The deal brings Schlumberger’s worldwide marketing resources to Ødegaard’s technology while adding Ødegaard’s specialist head count to the Schlumberger  fold. Maver described the people and technology as a good fit.

Center of Excellence

Ødegaard’s Copenhagen office is to become a Schlumberger centre of excellence for seismic inversion. All staff are to be retained, in fact, Maver needs more people.

SIS

We also asked Maver why the software company was being acquired by WesternGeco rather than Schlumberger’s Information Solutions Unit. Maver noted that since WesternGeco is now a wholly-owned unit, there will be a ‘closing of the loop’ between WesternGeco’s Reservoir Seismic Services unit and Schlumberger’s Digital and Consulting Services division.

Petrel plug-in?

We asked if this might lead ultimately to a Petrel plug in for Ødegaard’s ISIS technology. Maver was cautious,  ‘We are working hard on inversion and it should be easier now to go from acquisition right through to reservoir modeling in Petrel. It’s too early to say if there will be a plug in.’�

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