Houston-based survey-tech-driven oil company Rocksource will pay $5 million to have a piece of the the brainy enterprise TechnoImaging of Salt Lake City, Utah in a deal aimed at gaining an edge in worldwide exploration kit.

TechnoImaging headed by Dr. Michael Zhdanov, Professor of Geophysics at the University of Utah and Director of the International Consortium for Electromagnetic Modelling and Inversion. His company develops advanced 3D algorithms for CSEM, or controlled-source electromagnetic data —complement and rival of acoustic-energy-based seismic.

Rocksource business, Rocksource Geotech, will gain 36 percent in TechnoImaging and win access to the company’s R&D.

The algorithms considered that rule the control of live geophysics data look set to find their way into the software Rocksource Discover, it was understood Tuesday. TechnoImaging algorithms handle time-domain electromagnetic data good for water and onshore exploration work.

“Geotech strongly believes that continued application and further development of this technology offers game-changing potential to the oil and gas industry,” a statement said.

TechnoImaging was established in 2005 by Dr. Zhdanov, when he served on Rocksource’s advisory board. Now, his company wields several patents and employs University of Utah researchers on those all-important algorithms.

TechnoImaging aims to scale up its commercial operations from its $250,000-a-year, project-based academic exercise into a full-scale business.

Tags: Rocksource Group