New seismic tool touted

by The Associated Press

A new seismic system could improve the detection of oil and natural gas reserves, says. Schlumberger Ltd., which spent at least $80 million to develop a system that provides a cleaner view of underground rock formations than current seismic images.

Schlumberger says its new seismic system provides images showing underground details that previously were invisible. It believes the new “Q” system should allow for the extraction of more oil from existing reservoirs.

“The customer reaction, in our view, will be, ‘Yes, it’s great technology, but we really don’t need it right now,’” said Bill Herbert, an energy services analyst for Simmons & Company International.

The U.S. rollout is scheduled for April 17 at a convention in New Orleans, while the marine equivalent will be introduced at a Canadian energy show in Calgary, Alberta, in August.

Work on Q system started in 1994 in Schlumberger’s laboratory in Cambridge, England, with engineering work done in Norway.

Schlumberger is the second-largest provider of oilfield services, after Dallas-based Halliburton Co.