FEI and Weatherford Enter Into Joint Agreement for Advanced Reservoir Characterization Services
May 18 2015 - 8:15AM
FEI (Nasdaq:FEIC) and Weatherford Laboratories have entered into a
joint agreement to offer advanced reservoir characterization
services to the oil and gas industry. The two companies will work
together to create new workflows that integrate Weatherford's
traditional core analysis and FEI's digital rock imaging, modeling
and interpretation. These integrated solutions will address
challenges associated with enhanced recovery, formation damage,
multi-phase fluid property prediction and wettability
characterization.
"The alliance with Weatherford's Laboratory Services group will
help asset teams increase the value of both traditional and digital
lab measurements," said Mark Knackstedt PhD, Director of Product
Development for FEI's oil and gas business. "By combining the
results, we should improve reservoir characterization and help
operators understand reservoir behavior and recovery mechanisms –
ultimately reducing their risk and increasing their ability to make
better informed development and production decisions."
The agreement will create several complementary workflows in
which traditional lab tests are integrated with digital rock
analysis and modeling to predict fluid flow properties. The
strength of digital rock modeling lies in its ability to provide
valuable data earlier in the decision-making cycle, so exploration
& production (E&P) operators can initiate field development
plans sooner. Subsequent integration and calibration of traditional
and digital special core analysis (SCAL) data then enables E&P
operators to evaluate the quality of their data and extend their
predictions to multiple scenarios, such as: different rock types,
variable initial saturations, fluid types and wettability
sensitivities.
In addition, traditional core analysis coupled with
high-resolution digital imaging and analysis modeling solutions
will enable operators to gain new insights into the pore-scale
recovery and damage processes that control the reservoir production
potential. Combining FEI's digital analysis solutions with
Weatherford's vast expertise and 'Ground Truth' lab analysis will
help clients understand more about their reservoir to improve and
optimize recovery programs.
For more information, visit
http://www.fei.com/natural-resources/oil-gas/ or visit FEI at AAPG
in Denver, taking place May 31-June 3.
About FEI
FEI Company (Nasdaq:FEIC) designs, manufactures and supports a
broad range of high-performance microscopy workflow solutions that
provide images and answers at the micro-, nano- and picometer
scales. Its innovation and leadership enable customers in industry
and science to increase productivity and make breakthrough
discoveries. Headquartered in Hillsboro, Ore., USA, FEI has over
2,600 employees and sales and service operations in more than 50
countries around the world.
FEI is a leading digital rock solutions provider that offers a
complete portfolio of advanced imaging systems; visualization
software; and analysis, interpretation and modelling services. FEI
helps its customers explore reservoir rock to understand how
lithology, porosity, wettability, mineralogy, connectivity,
permeability and microporosity impact fluid flow and reservoir
behavior. In addition, FEI provides high-end software solutions
that range from 3D components for application developers (Open
Inventor®) to advanced 3D visualization software (Avizo®). More
information can be found at: www.fei.com.
FEI Safe Harbor Statement
This news release contains forward-looking statements that
include statements regarding the performance capabilities and
benefits of the digital rock analysis workflow. Factors that could
affect these forward-looking statements include but are not limited
to our ability to manufacture, ship, deliver and install the tools
or software or deliver the services as expected; failure of the
product, technology or services to perform as expected; unexpected
technology problems and challenges; changes to the technology;
failure of the joint agreement to obtain the desired results, the
inability of FEI, its suppliers or project partners to make the
technological advances required for the technology and services to
achieve anticipated results; and the inability of the customer to
deploy the tools or develop and deploy the expected new
applications. Please also refer to our Form 10-K, Forms 10-Q, Forms
8-K and other filings with the U.S. Securities and Exchange
Commission for additional information on these factors and other
factors that could cause actual results to differ materially from
the forward-looking statements. FEI assumes no duty to update
forward-looking statements.
CONTACT: For more information contact:
Sandy Fewkes (media contact)
MindWrite Communications, Inc.
+1 408 224 4024
sandy@mind-write.com
FEI Company
Jason Willey (investors and analysts)
Investor Relations Director
+1 503 726 2533
jason.willey@fei.com
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