-- MagiQ Technologies launches new subsidiary entitled GeoOptics to focus on Fiber Optic Sensing for Oil and Gas
SOMERVILLE, Massachusetts, Oct. 27, 2014 /PRNewswire/ -- MagiQ Technologies will be participating in the 84th annual Society of Exploration Geophysicists (SEG) Meeting. SEG Denver 2014 takes place October 26th –October 31st at the Colorado Convention Center in Denver, CO. We will be demonstrating our GeoOptics Seismic Sensor at booth #366 at SEG.
Announcing GeoOptics, a division of MagiQ Technologies
GeoOptics (www.geoopticstech.com ) is a division of MagiQ Technologies, created to dedicate resources and focus on the fast growing distributed fiber optic sensing industry. GeoOptics was enabled by leveraging previous contracts from the US Department of Energy and collaboration with Sandia National Lab.
Michael Sequeira, Senior Consultant, OTM Consulting Ltd, said, "SEAFOM's mission as a Joint industry forum is to promote the growth of fiber in Oil and Gas. GeoOptics has leveraged their SEAFOM membership to mature into a viable player in this growing industry. SEAFOM is proud to have mentored GeoOptics."
Better Hydraulic Fracturing
Hydraulic fracturing will make the United States the world's largest oil producer in the world. The number of state and country regulations related to hydraulic fracturing has increased. Increasing regulation is due in large part to public concern about the adverse environmental impacts of fracking.
Microseismic monitoring offers one of the best methods for understanding what is happening below the surface. Specifically, micro seismic helps track what is happening in the earth during fracture by listening to small cracks that split the rock where the natural gas or oil is found. GeoOptics listens to these microseisms through subsurface geophones and a system of hardware and software that collects and analyzes downhole activity. Monitoring by GeoOptics can increase yields and ensure an environmentally benign process.
First Product is Seismic Sensor
GeoOptics' first product is a fiber Seismic Sensor. GeoOptics' Seismic Sensor will provide real-time monitoring in a more reliable and cost effective manner by using only fiber downhole and taking advantage of our experience in interrogation. GeoOptics has four patents pending and five active patents to protect our proprietary approach to fiber sensing. The Seismic Sensor will be available for field trials in the first quarter of 2015.
Dr. Bob Hardage, Senior Research Scientist at the Bureau of Economic Geology, The University of Texas at Austin, said, "The micro seismic industry always needs more sensitive and cost effective tools to monitor hydraulic fracturing. I look forward to GeoOptics making a large impact on the Oil and Gas industry."
Dr. Mark Lowell, President of Lowell Innovation Consulting and Technical Advisor to GeoOptics, said, "Distributed fiber sensing is an important innovation for harvesting more resources from oil and gas reservoirs. GeoOptics's seismic sensor can operate in the harsh temperatures and pressures found in a borehole creating higher yields."
OEM Optical Interrogator
GeoOptics is selling optical interrogators to OEM customers as well as to System Integrators. MagiQ has been building optical interrogators since 2002 and has shipped to customers throughout the world. GeoOptics is developing a range of modular interrogators for Oil and Gas fiber optic sensing applications. Measurements of interest include seismic, distributed acoustic sensing (DAS), pressure, and temperature, among others.
Dr. Alexis Mendez, President of MCH Engineering and Technical Advisor to GeoOptics, said, "The engineers and scientists at GeoOptics have broad and deep expertise in optical interrogation and sensing systems going back to 2002. The acquired experience and track record of satisfied customers and effective solutions will undoubtedly benefit the Oil and Gas industry."
Andrew Hammond, Vice President of Business Development, GeoOptics, said, "Customers have been very excited about our GeoOptics platform. Starting with our GeoOptics Seismic Sensor and our OEM Interrogators, all GeoOptics products offer exceptional performance at an outstanding price."
About MagiQ Technologies
MagiQ Technologies (www.magiqtech.com), a quantum commercialization company, was founded in 1999. MagiQ developed and sold the world's first commercial quantum cryptography system in 2002 and remains dedicated to developing quantum technologies for the real world.
GeoOptics (www.geoopticstech.com) is a division of MagiQ Technologies. GeoOptics' mission is to illuminate the earth by providing distributed fiber sensing solutions to the oil and gas industry. GeoOptics currently provides a Seismic Sensor and OEM interrogators.
SEG is a trademark of the Society of Exploration Geophysicists. MagiQ and GeoOptics are trademarks of MagiQ Technologies.