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Seequent, a subsidiary of Bentley Systems (NASDAQ: BSY), has acquired Eliis, a seismic interpretation software company, to help advance subsurface understanding.
Eliis’ software offering includes PaleoScan, a seismic interpretation platform with its patented Relative Geological Time technology and AI-based systems. Seequent says Eliis’ software compliments its own subsurface portfolio, including its implicit modeling tool Leapfrog Geo.
“The combination of Eliis’ seismic expertise with complementary geoscience and reservoir technologies will accelerate our ambition to become a leading subsurface technology platform beyond the energy industry,” said Benoît Matha, Eliis’ CEO.
In addition to the software, Eliis’ global team of more than 100 geoscientists, technical specialists and researchers will join Seequent.
Graham Grant, Seequent’s CEO, says that challenges in energy transition and critical resources are increasing the need for imrpoved subsurface insights. “We see huge opportunity in energy, mining, as well as groundwater management, the recovery of minerals from brines and carbon storage,” Grant said in a company news release.
He added that for mining companies seismic interpretation helps to reduce geological uncertainty and discover deeper mineral deposits. “Eliis will strengthen Seequent’s ability to help our users understand the underground,” he added.