Shenzhen-Hong Kong Energy Purchases Stake in 4D Seismic, Inc.

4D Seismic, Inc. confirmed that Shenzhen-Hong Kong Energy, Inc., a privately owned corporation, has purchased four and one-half percent (4.5%) of the outstanding shares of 4D Seismic, Inc. for cash. The shares of 4D Seismic were procured by investment banker McKorkle, Lippodt & Evans.

4D seismic technology adds a 4th dimension to the graphing of seismic surveys to allow precision pinpointing of petroleum reservoirs and simulation of their size and depth. The 4D method improves petroleum exploration and production.

The preceding generation of technology improved oil field yields from 2D 25-30% to 3D's 40-50% recovery. BP/Shell's Foenhaven Field reported an expected increase from use of 4D technologies to 65-75% recovery efficiency as cited in "Petroleum Engineer International."

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours