IHS Acquires Log Assets of Reservoir Visualization, Inc.
July 09 2008 - 8:15AM
Business Wire
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. 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.� About
IHS (www.ihs.com) IHS (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,
environment 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 3,500 people in 35 locations around the world. IHS is a
registered trademark of IHS Inc. All other company and product
names may be trademarks of their respective owners. Copyright �
2008 IHS Inc. All rights reserved. IHS FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts. Such statements may include financial projections and
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performance. Forward-looking statements are generally identified by
the words "expect," "anticipate," "believe," "intend," "estimate,"
"plan" and similar expressions. Although IHS and its management
believe that the expectations reflected in such forward-looking
statements are reasonable, investors are cautioned that
forward-looking information and statements are subject to various
risks and uncertainties--many of which are difficult to predict and
generally beyond the control of IHS--that could cause actual
results and developments to differ materially from those expressed
in, or implied or projected by, the forward-looking information and
statements. These risks and uncertainties include those discussed
or identified by IHS from time to time in its public filings. Other
than as required by applicable law, IHS does not undertake any
obligation to update or revise any forward-looking information or
statements. Please consult our public filings at www.sec.gov or
www.ihs.com.
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