SOURCE: SIGMA3

SIGMA3

September 19, 2011 09:00 ET

SIGMA3 Launches Following Acquisition of FusionGeo and Prism Seismic

SAN ANTONIO, TX--(Marketwire - Sep 19, 2011) - SIGMA3 Integrated Reservoir Solutions™ (SIGMA3) announced its launch today at the Society of Exploration Geophysicists (SEG) annual meeting, supported by the acquisition of FusionGeo Inc. (Fusion) and Prism Seismic, Inc. (Prism). This new company brings together the talent, technology and science of industry innovators Fusion and Prism, with a broad vision and a strong industry-leading team, led by CEO Jorge Machnizh, President & COO Luis Sanmiguel, CTO Alan Huffman and Chief Reservoir Engineer Udo Araktingi. SIGMA3 is backed by Symphony Technology Group (STG), a strategic private equity firm with the mission of investing in and building great software and service companies.

"SIGMA3 is creating a comprehensive, multi-disciplinary, and technology-led solutions provider that can be a strategic and unbiased partner to oil and gas companies in their quest to find new reserves and produce maximum output from their assets," said Jorge Machnizh, CEO, SIGMA3. "By merging complementary and best-in-class technologies, along with a set of industry-leading science and consulting capabilities, and with the support of our investors, we will continue to invest in innovative technologies and deliver offerings to the market more quickly to address industry challenges and create something exceptional for our customers."

The newly launched SIGMA3 will serve as an unbiased solutions partner that will work with its customers to achieve new levels of financial performance and accelerate Time-2-Cash (T2$)™ by enabling accurate, efficient and unparalleled reservoir understanding, resulting in improved drilling and production of reservoirs. Oil company clients will drill more prolific wells and achieve better sustainable production while developing unprecedented reservoir understanding, well positioning and field development planning, and production optimization across their portfolio.

"With the increasing challenges of finding new reserves and maximizing asset development and production, we believe customers will benefit significantly from the creation of a strong strategic partner that can help address a wide range of analytical and planning challenges required to drive efficient and productive deployment of capital," said J.T. Treadwell, Managing Director, STG. "Our vision for SIGMA3 is to create a solutions partner for the industry with excellence in technology and in multi-disciplinary projects that does not have an oil field services agenda coloring the discussions. I am also excited to be developing this vision with this executive leadership team. Jorge, Luis, Alan and Udo are excellent strategic and operational leaders, and together they have an exceptional track record in the industry of creating high-performance companies on top of strong technology-led solutions teams."

Prism's Continuous Fracture Modeling (CFM) solution creates a unique integration of Geophysics, Geology, Petrophysics, Reservoir Engineering and advanced workflows. This is the first industry solution that creates a predictive model that accurately shows where natural fractures are, their orientation, their porosity and their permeability. This innovative solution results in higher initial production rates, increased Expected Ultimate Recovery (EUR) and optimized well plans, ultimately resulting in improved predictable financial performance.

Fusion is a leading provider of integrated geophysical, geological and reservoir engineering technologies and services to the global oil and gas industry. Fusion is the undisputed leader in Geohazards and Geopressure Prediction and also offers Reservoir Geophysics and Earth Imaging and modeling Analysis capabilities, along with expert oil finding skills.

"We have been very pleased with how well the companies are coming together, as there is a tremendous amount of value to be generated for our customers with the synergy of these different technologies, disciplines, and areas of expertise," said Luis Sanmiguel, COO, SIGMA3. "Each component of SIGMA3 is a technology leader in its own right, and yet the combination of technologies and talent becomes something that will be unique to the industry, a team of technology-driven and successful oil finders."

The SIGMA3 management team is comprised of Jorge Machnizh, CEO, Luis Sanmiguel, President and COO, Alan Huffman, CTO) and Udo Araktingi, Chief Reservoir Engineer, together providing a balanced commercial, technological, operational and science leadership with considerable worldwide experience and recognition in the oil and gas industry. The talented resources of the two companies were a major factor in the acquisitions and SIGMA3 is able to count on a diverse global team of senior exploration and production experts that have delivered successful projects in over 50 countries for leading petroleum companies globally. Together, the combination of technology and people will set the company apart from its peers, with a strong legacy of "oil finding" DNA.

About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and being a partner in building great software and services companies. In addition to capital, STG provides transformation expertise to enable its portfolio companies to deliver more value to clients to retain and attract the best talent and to achieve best-in-class business performance. All STG portfolio companies are expected to grow through innovation. STG's current portfolio consists of 14 global companies with combined revenue of $2.5 Billion and 15,000 employees spread evenly across North America, Europe and Asia.

About SIGMA3 Integrated Reservoir
SIGMA3 is a leading technology provider for the oil and gas industry that advises oil and gas companies where and how to drill the most prolific wells, while maximizing their production. The company offers a full suite of software, training and products, with expertise in a variety of geophysical services, including Earth Modeling & Imaging, Reservoir Geophysics, Continuous Fracture Modeling, and Geohazard Analysis. For more information visit www.sigmacubed.com.

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