geoLOGIC systems ltd. Announces Purchase of Well Completions & Frac Database from Canadian Discovery Ltd.

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CALGARY, December 23rd, 2016 – geoLOGIC systems ltd. (geoLOGIC) today announced that it has purchased Canadian Discovery Ltd.’s (CDL) Well Completions & Frac Database and related products, including its Direct Data Access add-on module and the Drilling Database.

This acquisition includes the products and the team behind them, so clients using Canadian Discovery’s Well Completions & Frac Database will continue to receive the same high-quality data and service they have come to expect.

“geoLOGIC is excited to integrate such an important data set with its existing product offerings,” said geoLOGIC CEO David Hood. “Fracking has been the key technology that has driven the spectacular growth of North American hydrocarbon production and geoLOGIC now owns the only comprehensive Canadian fracking data set in existence. We have big plans to build on the data and interpretation tools to provide even more value for our customers.”

CDL CEO Kaush Rakhit  said, “CDL is extremely proud to have developed the Well Completions & Frac Database over the past seven years. I want to thank our clients for their support in helping us build the largest digital completions and frac data set in Western Canada. We are excited to see its continued development and growth with geoLOGIC.”

As part of the sale agreement, CDL will retain access to the Well Completions & Frac Database and continue to focus on its industry-leading information products, specialized data offerings, and consulting. “Canadian Discovery has been a trusted geoscience leader for 30 years and we have no plans on stopping,” said Rakhit.

To ensure a seamless customer transition, CDL will continue to maintain existing systems including the www.fracdatabase.com website and Direct Data Access module. geoLOGIC and CDL will work together to fully integrate the data into geoLOGIC’s flagship products—geoSCOUT and the geoLOGIC Data Center (gDC)—and transition support responsibilities to geoLOGIC’s industry-leading Customer Solutions helpdesk.

To learn more about this acquisition, the Well Completions & Frac Database, or its related products, email fracdatabase@geologic.com.

About geoLOGIC systems

geoLOGIC systems ltd. is based in Calgary, Alberta and has been providing high-quality, integrated data and software decision support systems to the upstream oil and gas industry in Western Canada and elsewhere for over thirty years.  geoLOGIC’s relentless focus on innovation, quality, and service has made it the trusted standard in the Western Canadian Sedimentary Basin.

geoLOGIC’s customers include oil & gas exploration and production companies, pipeline and midstream companies, service companies (engineering, consulting, reserves auditing, financing, stock and asset brokerages, drilling, oilfield servicing), government and regulatory organizations, and educational institutions.  Its key products are geoSCOUT, a decision-support tool providing comprehensive data for all disciplines within the oil and gas industry, and gDC, geoLOGIC's comprehensive upstream oil and gas database.

For more information, please visit www.geologic.com or email info@geoLOGIC.com.

About Canadian Discovery

Canadian Discovery Ltd. (CDL) is an independent, global energy information service company headquartered in Calgary, Alberta, Canada. For 30 years, CDL has continuously evolved to deliver oil & gas data, analytics and expertise via online applications and supporting consultancy services. Geoscientists, engineers, investors and executives at hundreds of organizations worldwide currently leverage CDL’s insights to maximize results.

The company’s industry-leading products include Discovery Digest in Canada, UK and Norway, as well as Digest Spark, Technical Studies and consulting services. CDL is a known innovator in specialized data and information services—current projects include Estimated Ultimate Recovery (EUR) calculations, Analytics reporting and the Catalyst web application.

For more information, please visit www.canadiandiscovery.com or email info@canadiandiscovery.com.

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