IHS Acquires Log Assets of Reservoir Visualization, Inc.
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Acquisition significantly boosts company log asset inventory
ENGLEWOOD, CO (July 9, 2008) – IHS Inc. (NYSE:IHS), a leading global source of critical information and insight, today announced the acquisition of the current inventory of digital log and raster image assets of Reservoir Visualization, Inc., an exploration and reservoir management consultancy specializing in the creation of stratigraphic framework used in oil and gas prospecting. The $4.1 million cash acquisition doubles the current IHS digital log inventory and significantly expands the company’s raster log inventory, creating the industry’s leading digital well log subscription programs.
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Headquartered in Humble, Texas, Reservoir Visualization, Inc. (RVI) uses logs in key geologic basins to create digital logs and generate subsurface models and comprehensive stratigraphic frameworks.
“Acquiring RVI’s inventory further positions IHS as the source for critical information and insight in the energy industry by providing meaningful enhancements to our current log asset offerings,” said Jerre Stead, IHS chairman and chief executive officer. “This addition will enhance our ability to provide the information our global customers need to better understand a basin’s geological depositional history and reservoir management parameters.”
“RVI's technology revolves around using large volumes of digital log and production data to visualize all reservoirs within a basin and to understand the geologic processes responsible for reservoir rock,” added Ralph Williams, RVI president. “We are excited to extend our relationship with IHS beyond being a long term subscriber to their products. Both IHS and RVI will now be better positioned to pursue their respective goals as the energy business transitions to digital exploration.”
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About IHS (www.ihs.com)
IHS Inc. (NYSE: IHS) is a leading global source of critical information and insight for customers in a broad range of industries. Our customer product and service solutions span four major areas of information: energy, product lifecycle management, environmental and security. By focusing on our customers first, we deliver data and expertise that enable innovative and successful decision-making. Customers range from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS has been in business since 1959 and employs more than 3,000 people in 35 locations around the world.
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