Geophysical Insights Awards The University of Texas at Austin $5 Million in Software Licenses to New AI Technology for Seismic Analysis
Houston, 28 August 2024 –
Geophysical Insights, a leading Houston-based company specializing in AI software for seismic analysis, has generously donated multiple licenses of their Paradise® AI workbench software to the Jackson School of Geosciences at The University of Texas at Austin. This significant contribution, valued at over $5 million, will equip undergraduate students, graduate students, and researchers with the latest machine learning and deep learning technologies in seismic analysis for education and research.
The Paradise AI workbench utilizes cutting-edge machine learning techniques to extract valuable insights from seismic and well data, surpassing the capabilities of traditional seismic interpretation tools. This advanced software applies machine learning algorithms to seismic data, enabling users to uncover otherwise hidden patterns and enhance their research results.
Geophysical Insights offers software licenses to select universities at no cost through their academic program, fostering educational growth and technological advancement. Dr. Michael Young, Associate Dean for Research in the UT Jackson School of Geosciences, emphasized the impact this grant can have on UT’s educational mission and ongoing research projects.
“Many of the Jackson School’s educational and research initiatives and consortiums will benefit from this donation. Paradise can accelerate automated detection and visualization of seismic faults, stratigraphic analysis, lithofacies prediction, and seismic facies classification,” said Dr. Young.
“We are immensely grateful to Dr. Tom Smith and the Geophysical Insights team for this donation. This technology will advance how our students and investigators conduct research, accelerate the analytical process and enable our students and researchers to explore new applications,” he added.
Founded in 2008 by Dr. Tom Smith, Geophysical Insights develops AI software technology that equips geoscientists and engineers with tools to understand and characterize the subsurface faster and in greater detail than traditional seismic analysis software tools. While the Paradise AI workbench can be applied to oil and gas exploration and development, it is equally applicable to analyzing the integrity of candidate Carbon Capture and Storage (CCS) reservoirs and identifying lithologies and seismic faults for mining operations. Since its commercial launch in 2013, Paradise has been adopted by universities, international oil companies, and national oil companies worldwide owing to its ease of use and highly effective results, enabling geoscientists and engineers of varying experience to apply AI applications to diverse geological investigations.
Dr. Smith expressed his enthusiasm for supporting the University of Texas’ research endeavors: “We are thrilled to provide this level of support to the pioneering research being conducted at the University of Texas Bureau of Economic Geology, and look forward to the excellent research resulting from our investment in these highly regarded institutions.”
The University of Texas at Austin has a long-standing history of excellence in data science and artificial intelligence research. This includes discovering and creating new applications that enhance health, improve quality of life and posively impact society. This donation will significantly advance the university’s commitment to knowledge and technology development in these critical fields.
About the University of Texas Jackson School of Geosciences
The Jackson School of Geosciences at The University of Texas at Austin is among the most established and well-regarded geoscience programs in the world. The school includes the University’s Department of Earth and Planetary Sciences, one of the country’s oldest geoscience departments, and two world‐renowned research units, the Institute for Geophysics and the Bureau of Economic Geology. For more information, go to www.jsg.utexas.edu.
Facebook: https://www.facebook.com/UTJSG; X and Instagram: @txgeosciences; LinkedIn: Jackson School of Geosciences at The University of Texas at Austin.
About Geophysical Insights
Geophysical Research, LLC (d/b/a “Geophysical Insights”) was founded in 2008 by Dr. Tom Smith with the vision of applying machine learning methods to seismic interpretation to reduce the risk of oil and gas exploration and the cost of field development. Shortly after launching the company, Dr. Smith assembled some of the best talent in the industry to develop the next generation of seismic interpretation software. The group’s mission was to apply machine learning to the problem of seismic interpretation and deliver the new capability in an off-the-shelf, commercial software product that could be used by any geoscientist. The new AI workbench, branded Paradise®, would feature an intuitive, elegant interface that guided geoscientists in applying machine learning to many geologic investigations. Over three years in development, including a year of field trials, Paradise was launched as a commercial product at the Society of Exploration Geophysicists (SEG) Annual Convention in 2013 and has since seen steady adoption worldwide, including by national oil companies (NOCs) and international oil companies.
Geophysical Insights continues to build capabilities in the Paradise AI workbench that enable faster reservoir characterization in the Paradise® AI workbench. Built for large sets of data, Paradise is a ‘Big Data’ solution that scales from a single workstation to an enterprise. Using combinations of supervised and unsupervised machine learning algorithms enabled by GPU computing, seismic interpreters can extract more information from seismic and well data in Paradise than would otherwise be possible from traditional interpretation tools. For more information, visit www.geoinsights.com.
Media Contact:
Hal Green
Geophysical Insights
713.480.2260