Earlier today, NEOS and CGG announced that they entered into a Definitive Agreement in which NEOS has agreed to purchase CGG’s Multi-Physics business line & General Geophysics Italy business (read: press release). These two businesses are part of the CGG group of companies, a leading provider of geoscience technologies, services and equipment.
The Multi-Physics business operates the world’s largest fleet of geophysical data acquisition aircraft, is the leading provider of airborne gravity gradiometry (AGG) systems and acquisition services, owns one of the industry’s largest non-exclusive libraries of gravity and magnetic data, and has a distinctive capability in acquiring and processing airborne electromagnetic (EM) data.
According to NEOS CEO, Jim Hollis,
“We are combining two of the leading proponents of multi-measurement interpretation, albeit with different strengths.
CGG’s Multi-Physics & General Geophysics Italy business is acknowledged for its advanced geophysical sensor technologies, efficient data acquisition platforms, and excellence in all facets of airborne operational execution, particularly in its HSE philosophy and performance.
NEOS has focused in the areas of multi-physics data processing, integration and interpretation, as well as predictive analytics.
By combining the entities, we will be able to better deliver a full-scope exploration offering that encompasses multi-measurement survey design, data acquisition, processing and analytic interpretation. Moreover, the combined entity will have a truly global operational footprint in key natural resource centers, with a client base that includes the world’s leading oil, natural gas, and mining firms.”
After the transaction closes in a number of months, the combined company will feature:
- Aircraft: world’s largest fleet of geophysical acquisition aircraft;
- Data libraries: one of the largest non-exclusive libraries of gravity and magnetic data;
- Gravity gradiometry: industry’s largest portfolio of airborne gravity gradiometry (AGG) systems;
- EM technologies: unique capabilities in electromagnetic data acquisition, imaging and interpretation;
- Seismic imaging: industry-leading capabilities in seismic data processing in complex geologic regimes, including subsalt, naturally fractured, and stacked-pay reservoirs;
- Geophysical software: proprietary geophysical software supporting multi-physics data integration and interpretation;
- Marine acquisition services: the leading provider of marine potential fields acquisition services to the oil & gas industry;
- Analytic interpretation: proprietary predictive analytics algorithms and methodologies used to highgrade exploration acreage and identify new exploration targets;
- Global team: 350 professionals positioned in key natural resource exploration centers in the United States, Canada, Australia, South Africa, Italy and Brazil.
To learn more about this transaction, read the Press Release