Strategic and aggressive expansion of capabilities continues
HOUSTON, TEXAS 18 July 2018 — Fairfield Geotechnologies and Ikon Science have formally signed a joint venture agreement to offer complete geoprediction services to the oil and gas industry in North America. The move coincides with Fairfield Geotechnologies' official rebranding and reflects its broad growth strategy of focused investments in its core businesses, along with strategic alliances and acquisitions where possible.
The joint venture leverages Ikon Science's industry-leading geoprediction technology, which includes innovative workflows for unconventional and conventional reservoirs and award-winning RokDoc Ji-Fi inversion software, with Fairfield Geotechnologies' seismic acquisition, processing and multi-client data library. Together, the two companies will be able to offer their clients customized, high-quality geotechnical solutions designed for comprehensive reservoir characterization.
“The core capabilities and synergies of both companies are well matched,” said Charles (Chuck) Davison, CEO of Fairfield Geotechnologies. “The JV with Ikon represents our commitment to providing our clients with best-in class data, services and solutions for reservoir management, risk reduction and increased productivity.”
Mark Bashforth at Ikon Science commented, “This coupling of data and technology delivers a streamlined best of breed solution to our clients, the goal being to maximize the value from the data they acquire and use an understanding of the geology to manage reservoirs with precision.''
About Fairfield Geotechologies (formerly FairfieldNodal)
Privately held Fairfield Geotechnologies, a pioneer and global leader in ocean bottom seismic nodal technology, designs and manufactures a complete range of revolutionary, true cable-free ZLand®and ZMarine®systems and offers expert marine acquisition and data processing services. In addition to an extensive multi-client database in the Gulf of Mexico Shelf and Permian Basin, the company continues to expand licensing coverage in the Lower 48 with focused investment and strategic acquisition of existing multi-client libraries.
About Ikon Science
Ikon Science provides comprehensive software technology and consulting services that increase the value of reserves while reducing drilling costs and operational uncertainty. Through its RokDoc software and integrated geoscience consulting business, Ikon Science brings the expertise and innovation required to build knowledge and confidence in sub-surface decision-making, predicting safer, cheaper and more efficient exploration, reservoir optimization and drilling.