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CGG : CGG Launches PowerLog Frac- New and intuitive petrophysics-based software

CGG Launches PowerLog Frac
Game-changing software drives faster, better models for hydraulic fracturing projects

PARIS, Oct. 29, 2014 (GLOBE NEWSWIRE) -- CGG announced the release of PowerLog® Frac, a new tool to petrophysically analyze well log data and directly feed results into fracture simulation software. Completions engineers use the resulting models to design better hydraulic fracturing projects and improve well performance.

PowerLog Frac is new and intuitive petrophysics-based software which generates formatted rock and fluid properties to allow engineers to run multiple frac scenarios with increased accuracy in hours instead of days by eliminating manual calculations and spreadsheets.

Frac design and analysis are currently applied in only a very small percentage of hydraulic fracturing projects due to the time needed to acquire input data for the models. Fracture simulation can now be implemented as part of a standard completion process.

PowerLog Frac was created by CGG GeoSoftware in collaboration with Baker Hughes Incorporated as part of a joint software development agreement. The new software increases industry access to Baker Hughes frac design expertise. Baker Hughes will use PowerLog Frac in its pressure pumping operations to generate scenarios immediately and directly drive its fracture simulation design software.

Sophie Zurquiyah, Senior Executive Vice President of CGG's Geology, Geophysics & Reservoir Division (GGR), said: "We are pleased to set the standard for petrophysical software that enables better frac results. With PowerLog Frac, oil companies and service partners can now combine information and quickly achieve consensus on an effective well completion program. Better decisions drive more effective and profitable drilling programs, and speed is critical particularly when multiple partners are involved in developing a field."

About CGG

CGG ( www.cgg.com ) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.

CGG employs over 9,500 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.

CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).

Contacts

Group Communication
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: : invrelparis@cgg.com
Investor Relations
Catherine Leveau
Tel: +33 1 64 47 34 89
E-mail: : invrelparis@cgg.com

Press Release - pdf version http://hugin.info/142000/R/1866352/655591.pdf

HUG#1866352

Source: CGG