P R E S S   R E L E A S E

 

March 1, 2004

 

For Additional Information, Please Contact:          Gopal Amruthapuri

                                                                                    Petrospec Technologies, Inc

                                                                                    P. O. Box 131133

                                                                                    The Woodlands, TX  77393-1133

                                                                                    Tel/Fax: 936.788.7778

                                                                                    Email: gopal@petrospec.com

                                                                                    Web:  http://www.petrospec-technologies.com

 

Petrospec Shows Integration of Real-time Pore Pressure and Fracture Gradient Analysis Software With Seismic Predictions

 

DALLAS, TEXAS -- PETROSPEC TECHNOLOGIES (The Woodlands, TX) demonstrated its latest integration of pore pressure and fracture gradient real-time analysis software (EquiPoise) with its seismic pore pressure prediction software (pQube). Both pQube and EquiPoise are Intranet/Intranet applications that allows a team of pore pressure engineers to perform continuously updating real-time analyses at the well site or office, or both simultaneously.

 

At the show Petrospec showed how seismic processing can be coupled with real-time analysis to improve both predrill and real-time predictions. Petrospec is currently looking for additional participants to join a Joint Industry Project to enhance and expand the existing technology. The project, which is planned to begin in the early 2nd Quarter of 2004 is called equiPoise – Phase II.

 

For equiPoise – Phase II Petrospec proposes the continued integration of two existing Petrospec Technologies’ applications (equiPoise and pQube) to produce a comprehensive software system to assess abnormal formation pressure and fracture gradients from seismic data:

 

·       RMS velocity functions

·       Interval velocity functions

 

Phase I of this project successfully completed the integration of real-time petrophysical and geochemical data:

 

·       MWD data

·       Real-time drilling data

·       Petrophysical / Wireline data

·       Geochemical and Geological data

 

The integrated software, equiPoise – Phase II, will continue to support for the new Windows OS releases (2000, XP), capture data in real-time, display data in real-time, and update geopressure estimation in real-time of both seismic and petrophysical predictions.

 

pQube is an established seismic pore pressure prediction software package that has been in use since 1999 by numerous majors and independents. pQube takes seismic interval velocities and known pressures from offset well data to create pore pressure and fracture gradient volumes.

 

EquiPoise was developed as a joint industry project during 2003. The project participants were Unocal Corporation, ConocoPhillips, and Geoservices. Three of the goals of the project were to produce software built on proven technology that allowed the easy incorporation of geochemical and geophysical data, mixed units of measure and simultaneous analysis updates in client offices. The first release of EquiPoise has already been deployed for use on wells in Brazil, Azerbaijan, the North Sea, and the Gulf of Mexico.

 

For more information about Petrospec and equiPoise – Phase II, please contact Gopal Amruthapuri, Petrospec Technologies, 936-788-7778, email gopal@petrospec-technologies.com, or visit the web site at http://www.petrospec-technologies.com .

 

 

# # #