CALGARY, Jan. 12 /CNW/ - Users of geoSCOUT, the cutting-edge, easy-to-use
E&P decision support system from geoLOGIC systems ltd., will soon be able to
augment their mapping and analysis capabilities with point-and-click access to
all relevant, available documentation for oil and gas properties - without
ever having to leave the map they are viewing.
Under an agreement announced today, geoLOGIC systems ltd. has purchased
the assets of Whitehot Innovations Corporation. The purchase includes all
proprietary technology and surrounding assets. Four Whitehot staff, including
company president Lori Adams, have already made the transition to geoLOGIC and
are working on the team responsible for the integration of Whitehot's QFind
Document Management asset with geoLOGIC's signature product, geoSCOUT.
Ms. Adams has some 20 years of industry experience, including 10 years in
management roles and extensive experience in new product line development. In
2001, she joined Rapid Technology to oversee product development and
large-scale technology projects specifically in oil and gas. Ms. Adams was
instrumental in the building and subsequent sale of Rapid Technology's
RapiData(TM) product. She started Whitehot Innovations in 2007 after
purchasing the newly commercial QFind asset from Rapid Technology.
"The completion of this purchase is a vision realized for me, and for the
Whitehot team," said Ms. Adams. "QFind's smart indexing allows it to sift
through any available documentation more accurately and quickly so you only
get the most relevant documentation. But the real power comes in the fact that
you will be able to access all this information directly through a map within
geoSCOUT. The implications for efficiency and workflow enhancement are
With many industry experts predicting a rise in M&A activity in Canada,
geoLOGIC sees the acquisition of Whitehot and the addition of QFind
functionality to geoSCOUT as an opportunity to help companies address the
challenge of keeping up with documentation, as well as merging existing
documentation from different sources.
"Recent reports have indicated that Canadian oil and gas assets are
already the most actively traded in the world," said geoLOGIC President David
Hood. "So it is more important than ever that oil and gas companies are able
to easily and intuitively make use of the data that is available to them. As
much as we can, we are trying to offer our customers cost-effective choices
that support enhanced workflows. The addition of the QFind module to geoSCOUT
will allow us to offer document management capabilities that are fully
integrated into their enterprise-wide decision support tool."
About geoLOGIC systems ltd.
Alberta-based geoLOGIC systems ltd. has been creating and supplying data
and integrated software solutions to the energy and production industry since
1983. The company's premier product, geoSCOUT, is a fully integrated,
Windows-based exploration system that supports oil and gas professionals in
their search for resources by combining presentation-quality mapping and
cross-section tools with data handling and analysis software. The geoLOGIC
Data Center (gDC) supplies customers and software partners with high quality
data in an open Public Petroleum Data Model (PPDM). For more information on
geoLOGIC, visit www.geologic.com.
For further information:
For further information: David A. Hood, President, geoLOGIC systems
ltd., (403) 262-1992, firstname.lastname@example.org