Business news for the week of 11 July 2008 Past news briefs Ingrain names Avrami Grader as chief scientist
1 July 2008—Rock physics company, Ingrain, has added scientist Avrami Grader to its executive management team, effective immediately. He will serve as Ingrain’s chief scientist and lead the firm in developing advanced methods for the computation of rock properties and multiphase flow through reservoir rocks.
ZEH releases ZEH Montage Professional
1 July 2008—ZEH Software has released Montage Professional for Windows v 2.3. Montage Professional is a tool that combines CGM and raster graphics into a single montage of unlimited canvas size. IHS and Energistics launch standardized well ID service
7 July 2008—IHS has launched a service that delivers global unique well identifiers for all known oil and gas wells outside North America. The company claims the service delivers the first common method for identifying wells.
BOS signs long term agreement in West Africa
9 July 2008—BOS signed a contract with Hyperdynamics on 3 July, its largest contract to date and its first contract in Africa, for 5000 km2 of 3D acquisition and processing. It will commence in the fourth quarter 2008, offshore Guinea, West Africa. Geotimes to become EARTH magazine
7 July 2008—Geotimes magazine will become EARTH magazine, beginning with the September 2008 issue. Geotimes has delivered earth science news to the professional community for over 52 years. Since 1999, the magazine has been transformed to become a voice of the geosciences for the general public, while still covering the latest developments within the geosciences. EARTH will continue to explore the science behind the headlines in the areas of earth, energy, and the environment, but with 25% more pages of materials, enhanced visual appeal, and an increasingly diverse mix of topics in each issue. As part of this transition, AGI will expand the distribution of EARTH to newsstands and bookstores across the U.S. and Canada. BP signs contract with AGM
9 July 2008—AGM has signed an agreement with BP for AGM's high-end 3D geological interpretation and visualization technology and related services. The agreement provides for deploying AGM's Recon product throughout BP worldwide. The multiyear contract also includes training, delivered by AGM at facilities in Houston and London. Seitel hires David Richard
10 July 2008—Seitel announced that David A. Richard has been named senior vice president. Richard will be based in the Olympic Seismic office and be responsible for corporate business development in both Canada and the United States.
His positions include president, CEO, and founder of FX Energy, president of Paradigm Canada, president and CEO of Kelman Technologies, and CEO of IHS Energy. IHS acquires log assets of Reservoir Visualization
9 July 2008—IHS announced the acquisition of the current inventory of digital log and raster image assets of Reservoir Visualization, an exploration and reservoir management consultancy. The US$4.1 million acquisition doubles the current IHS digital log inventory and expands the company’s raster log inventory.
Headquartered in Humble, Texas, Reservoir Visualization uses logs in key geologic basins to create digital logs and generate subsurface models and comprehensive stratigraphic frameworks.
Spectrum signs offshore contract with GX Technology
11 July 2008—Spectrum has signed a long-term contract with GX Technology, a subsidiary of ION Geophysical Corporation, for the 12-month charter of the seismic vessel GGS Atlantic. The Atlantic will acquire long-offset 2D seismic data for ION GXT's BasinSPAN program. The contract includes an option for a further 12-month charter period and allows the vessel to complete a Reliance contract off the east coast of India, which is a contractual obligation of Spectrum's former parent company GGS ASA. Spectrum will increase the source array capacity of the Atlantic to satisfy GXT's requirements, with an investment of approximately $1 million. | 
