Gulf Onshore Forms Exploration Technology Company
Gulf Onshore, Inc. has announced the formation of GOI Exploration Technologies, Inc., a wholly-owned subsidiary that will conduct research, development and marketing of advanced technology oil field equipment and services.
The Company has entered into a Memorandum of Understanding with Terra Data Surveys, LLC, a Texas company that employs proprietary sensing technology and equipment to locate hydrocarbons through analysis of radiant energy. Information about Terra Data and its technology is available at www.terradatasurveys.com.
Terra Data's truck- and ATV-mounted sensing equipment is portable and can be used to efficiently test potential discoveries in isolated and remote areas. Terra Data's technology identified proven and undeveloped oil reserves on the Company's properties in Shackelford Co., TX, and is being used in well analysis for the on-going Re-Work/Development Plan.
GOI and Terra Data are concluding a Joint Venture Agreement that will permit GOI to market Terra Data's services world wide, excepting the U.S. and the Kingdom of Cambodia, and share in contract revenues. In addition, Terra Data will use its proprietary sensing technology to identify hydrocarbon locations on Gulf Onshore's Anderson Co., TX oil and gas leases.
Among other products, GOI is developing a WiFi "mesh" network, to permit remote on-line monitoring of oil and gas wells. "AutoWellNet" will utilize sensors located on producing wells, connected through a WiFi cloud, to automatically report well activity and service requirements to operators or service providers. GOI anticipates AutoWellNet will help pumpers in scheduling preventative maintenance and identifying problems in the field, which should increase productivity by decreasing well downtime.