THE WOODLANDS, Texas, Feb. 10, 2016 /PRNewswire/ -- LMKR today announced a long term strategic partnership with FracGeo LLC aimed at integrating FracGeo's software solutions and products with LMKR's GVERSE™ and GeoGraphix® Product suites. The partnership will include developing connectors for integration as well as integration in development of new software technologies and products to help LMKR's clients adapt their workflows to the new oil price environment.
"LMKR's partnership with FracGeo will enable us to deliver advanced completion optimization techniques integrated with LMKR's GVERSE™ and GeoGraphix® Products. FracGeo's proprietary modeling services and products coupled with LMKR's technology and expertise will help us add new computation tools to overcome major limitations of existing and traditional geomechanical and frac design approaches that will make our clients more efficient and effective," commented Atif Khan, Chairman and CEO, LMKR.
"Today, we are bringing to the Geoscience world the practical and rapid deployment of fracture Geomechanics, a critical component as it enables our clients to assist the engineering community by correctly simulating the impact of fractured reservoirs on our completion and well performance," said Dr. Ahmed Ouenes, CEO and Founder of FracGeo. "The ability to simulate and validate the impact of our stimulation decisions on well performance directly impacts the bottom line of our clients. Together with LMKR, we are building software solutions that will change the way completions are designed and executed," said Dr. Ahmed Ouenes
LMKR is a petroleum technology company offering reservoir-centric interpretation, modeling and analytics software, mobile technology solutions and E&P data services - all focused towards lowering the risk associated with exploration and production of conventional and unconventional resource plays. LMKR recently launched its GVERSETM Suite of Plug and Play Geoscience and Engineering applications. LMKR holds the global license for development, sales, marketing and support for GeoGraphix.
FracGeo was founded to develop and deploy new geomechanical technologies needed for optimal frac design, completion and well spacing optimization in unconventional reservoirs. These technologies focus on the estimation of subsurface properties affecting hydraulic fracturing including the natural fractures and their complex interaction with regional stress and hydraulic fractures. This modeling uses new and fast computational tools that overcome the major limitations found in the existing software to accurately represent the physics of stimulation of fractured reservoirs.