PARIS, FRANCE (February 2014) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that CGG Jason (Netherlands) B.V. (“CGG”) has completed its acquisition of TerraSpark Companies (“TerraSpark”), a Lime Rock Partners portfolio company. The transaction was completed on January 15, 2014.
CGG (NYSE: CGG) has enhanced its software portfolio with the addition of TerraSpark’s Insight Earth®, advanced 3D visualization and interpretation software. Insight Earth greatly enhances seismic interpretation systems and provides the interpreter with guided tools that can automate the fault extraction process, precisely define salt bodies, deliver fast depictions of paleo-depositional environments, and enable the visualization of discrete fracture networks in unconventional plays. Insight Earth brings the most complicated structures into clear definition and delivers superior results.
With Insight Earth joining its Hampson-Russell and Jason software, CGG offers a full and complementary suite of tools to provide its worldwide clients with best-in-class reservoir characterization technology. These include advanced seismic interpretation, petrophysical analysis, well-to-seismic ties, inversion, reservoir property determination, and geomodeling.
Sophie Zurquiyah, Senior Executive Vice President of CGG’s Geology, Geophysics & Reservoir Division (GGR), said: “Insight Earth and its industry-renowned visualization and interpretation capabilities strongly complements our reservoir characterization software to address the most difficult subsurface challenges, enabling our clients to reduce the risks and costs associated with the discovery and production of hydrocarbons.”
CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical, and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition, and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs 9,800 people around the world, all with a passion for Geoscience and working together to deliver the best solutions to its customers.
TerraSpark is headquartered near Boulder, Colorado with a sales and support center in Houston, Texas. The company creates software tools that serve exploration and production professionals in the energy industry. TerraSpark’s breakthrough product, Insight Earth, enables visualization-guided volume interpretation of structure and stratigraphy, as well as integrated directional well-path planning. TerraSpark licenses Insight Earth and its modular components to end-users, and licenses individual technologies, such as interpretation services, to ISPs. The company leverages Insight Earth in its consulting services, namely 3-D interpretation, directional well path planning, and velocity model building.
Statesman Corporate Finance, LLC served as the financial advisor to TerraSpark. The Statesman transaction team included Managing Director Sid Shaver and Associate Walker French. TerraSpark’s key management team members involved in the process included Dan Piette, President and CEO, Geoffrey A. Dorn, Ph.D, Chief Technology Officer, and Steven Wells, Chief Financial Officer, V.P. Human Resources.
Statesman Corporate Finance, LLC is a leading middle market investment bank headquartered in Houston, Texas. Statesman provides merger and acquisition sell-side and buy-side advisory services and general corporate financial advisory services to middle-market companies.