Quattro Exploration and Production Ltd. (TSXV: QXP) announced Dec. 31 it closed the purchase agreement with an Alberta-based private company to acquire its well database for about $172,000 (C$200,000).
Quattro, based in Calgary, will acquire a data base of 2,000 well logs, including all pore pressure analysis, the associated computer algorithms and equipment dedicated to the analysis of the pore pressures and associated fracturing of certain geological oil and gas prospects within the foothills of Canada.
The information was accumulated over the past 38 years and is extensive, ranging from the U.S. border to the Yukon Territory. The data has been a key component in the design of safe and efficient drilling programs, with the further benefit of assisting in the identification of pore pressures and natural fracturing—one of the fundamental aspects of successful well design and fracking programs.
Four hundred of the wells logs within the database have penetrated the deep basin, including the Montney and Duvernay formations, resulting in an extensive analysis of regional geological trends, measured pore pressures and associated analytical information used to determine behavior and well performance.
The acquisition was funded with the issuance of preferred shares.
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