I am excited to introduce you to the latest addition to the Acceleware family, AxHeat! Officially released June 5, AxHeat is a modeling application that enables heavy oil producers to accurately simulate the impact of using radio frequency (RF) heating to mobilize in situ heavy oil reserves. The product is the first of its kind, specifically built for simulating the RF heating process within a reservoir. We have seen growing interest from oil companies researching this emerging technology and we believe AxHeat will play an important role in the commercialization of RF heating. The application integrates Computer Modelling Group Ltd.'s STARS reservoir simulation platform with Acceleware's electromagnetic simulator to accurately model the heating process within a reservoir. AxHeat tracks both the petrophysical and electromagnetic properties of the reservoir as they evolve over time, dynamically adjusting heating patterns, fluid temperatures, pressures, viscosities, etc. in response to electromagnetic radiation. For more information on RF heating download the whitepaper here

On the seismic side of the family, the product line is continuing to gain attention as the applications mature. Most notable has been the growth of AxWave, Acceleware’s 3D finite difference seismic modeling application. It took center stage at the European Association of Geoscientists and Engineers (EAGE) 76th annual conference and exhibition held in Amsterdam June 16-19, 2014. The AxWave presentations were packed and we even ran out of brochures!  We see good growth potential for AxWave as it is of interest to a broader target market than our AxRTM and gives us a new group to target who are interested in better tools to help them design and optimize seismic surveys.

AxRTM, Acceleware’s reverse time migration (RTM) application, continues to gain popularity, with Houston based geophysical software provider GeoTomo recently signing a reseller agreement. The agreement allows GeoTomo to integrate AxRTM into the GeoThrust seismic data processing system. One person at EAGE commented “wow, you guys are everywhere now.”

The development team continues to work on the next seismic product, Full Waveform Inversion (FWI). FWI is truly a killer app for seismic processing - it has the potential to fully automate the painstakingly iterative process of manual earth model building. It will allow oil and gas producers to dramatically reduce their “where to drill” decision time and expense.