Significant gift will enable next generation of geoscientists and engineers to learn using industry standard tools and technology; ensure faculty has resources for research
Monday, April 14, 2014 8:00 am EDT
"We are happy to be the recipient of this gift of IHS Kingdom software and related training and support services, which will help ensure our students are ready for the workforce, and it will benefit our faculty, our research, and ultimately, the industry, for many years to come."
IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, today announced it has donated $10.9 million in the form of its industry-leading IHS Kingdom® geoscience software licenses, training and supporting services to the Dwight Look College of Engineering at Texas A&M University in College Station. The donation will enable the university’s undergraduate and graduate students, as well as its geoscience and engineering faculty, to have access to the latest software technology for oil and gas geoscience interpretation and industry research.
IHS Kingdom is a Microsoft Windows®-based geoscience software interpretation tool used by thousands of geoscientists in more than 100 countries to evaluate potential oil and gas reservoirs and plan field development. IHS Kingdom enables geologists and geophysicists to conduct dynamic depth conversion of time-based data — transforming a common geosciences workflow and increasing the efficiency and accuracy of a process that used to take hours to complete, but is now accomplished in seconds.
In a recent major 8.8 release, IHS Kingdom delivered a new velocity modeling feature, which significantly increases workflow efficiency since it is built into the interpretation environment and automatically integrates with commonly used data, such as horizons and well tops. This feature allows interpreters to leverage this data to build and maintain a virtual velocity model to convert data from time to depth in a fraction of the time when compared to current practices.
“We are thrilled to be able to make this significant gift of IHS Kingdom software, training and services to Texas A&M University, which is one of the world’s leaders in both education and research for the geoscience and engineering communities and for the oil and gas industry as a whole,” said Rich Herrmann, vice president of geosciences at IHS. “IHS Kingdom is one of the most widely used tools for geoscience interpretation, so equipping students with industry-leading technology is going to ensure they are highly marketable once they enter the workforce. Due to the tremendous functionality that IHS Kingdom offers, some of our clients have made it a best-practice requirement for their company’s drilling and geoscience teams. This gift ensures Texas A&M students and faculty will have this same best-practice technology at their fingertips.”
The Look College of Engineering at Texas A&M University — College Station includes more than 9,200 undergraduate students, 3,000 graduate students and 350 faculty members. Texas A&M currently has more than 13,000 students and faculty engaged in geoscience and engineering disciplines.
“On behalf of our faculty, who seek to educate the best and the brightest in petroleum engineering, and on behalf of the students who come to Texas A&M to learn from the leading experts in these fields, we are grateful to IHS for this generous gift to the university,” said Dan Hill, Ph.D., department head of the Harold Vance Department of Petroleum Engineering and Noble Chair, Texas A&M University. “We are happy to be the recipient of this gift of IHS Kingdom software and related training and support services, which will help ensure our students are ready for the workforce, and it will benefit our faculty, our research, and ultimately, the industry, for many years to come.”
This gift follows earlier donations to the university from IHS, including a $500,000 gift of well and production information, software and consulting services to Texas A&M’s Harold Vance Department of Petroleum Engineering in 2006, which gave university graduate students and faculty greater access to the company’s industry-leading tools and data for the purposes of teaching and research.
In return, IHS became a member of the Crisman Institute for Petroleum Research, wherein the majority of Texas A&M’s petroleum engineering research is conducted. In addition to its IHS Kingdom software granted with this gift, IHS has provided its leading well and production data, as well as some of its well-completion, production, reserves estimation and cost-estimation tools and other specialty engineering software applications to Texas A&M since 1999.Specifically, those IHS applications have included PowerTools® and QUESTOR®, OilWat/GasWat®, Perform®, SubPump®, GasLift® and PVTLIB®.
To learn more about this grant or to speak with Rich Herrmann, please contact Melissa Manning at email@example.com
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs more than 8,000 people in 31 countries around the world.