Paradigm Geophysical (Nasdaq:PGEO) today announced a new imaging methodology and a new imaging algorithm to analyse seismic data. The company unveiled its products at the annual expo of oil and gas companies taking place at San Antonio, Texas.
Paradigm says its Earth Domain Imaging methodology bypasses the industry's current method of approximating seismic data imaging. It can produce high-fidelity imaging of complex geological structures that cannot be analyzed using older technologies, the company explains. The imaging method is enabled by Paradigm's new algorithm, which it calls Reflection Angle Migration.
Its objective is to help exploration companies find energy sources underground.
"Earth Domain Imaging operates in the depth-angle domain where it illuminates subsurface events with true amplitude and phase required for conducting AVO (amplitude versus offset), reservoir characterization and time lapsed (four-dimensional) exploration and production projects," the company explains.
Eldad Weiss, Paradigm?s Chairman and CEO commented that the new development brings great added value to fuel explorers, both in terms of quality of data interpretation and savings.