Ikon makes JRS splash

Eoin O'Cinneide

 20 August 2012 11:55 GMT

British technology player Ikon Science has added to its stable with the purchase of Australian software company JRS Petroleum Research.

The London-headquartered firm is beefing up its geomechanics presence with the acquisition of Adelaide and Perth-based JRS for an undisclosed fee.

JRS develops integrates software for image log analysis and geomechanics, using technology to increase oil recovery, cut drilling costs, minimise exploration risk and solve other exploration-related problems.

The company, which was founded in 2001, will be left as a stand-alone consultancy.

Ikon chief executive Martyn Millwood Hargrave said: "This acquisition is part of an ongoing strategy to broaden our capabilities by integrating Ikon Science’s traditional strength in pore pressure prediction with geomechanics to encompass both reservoir and well bore solutions.”

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