In-Depth Announces Settlement Agreement with ConocoPhillips
HOUSTON – Last November, ConocoPhillips (NYSE: COP) and In-Depth Geophysical, Inc. and In-Depth Compressive Seismic, Inc. (In-Depth), entered into a settlement agreement to resolve litigation regarding ConocoPhillips’ compressive sensing technology used in oil and gas exploration. The litigation, ConocoPhillips Company v. In-Depth Compressive Seismic et al. in the United States District Court for the Southern District of Texas, was settled on mutually acceptable terms.
ConocoPhillips, which began developing its Compressive Seismic Imaging (CSI) technology over a decade ago, is a leader in the development of compressive sensing technology and the leader in compressive sensing in the oil and gas industry. In-Depth began developing its compressive sensing technology in 2016, which includes its Compressive Seismic Acquisition (CSA) software used to design surveys for on-shore and off-shore (OBN/OBC) seismic data acquisition, and its Compressive Seismic Reconstruction (CSR) and EPOCS software. In-Depth continues to offer its onshore and OBN/OBC services. The companies acknowledge that In-Depth’s CSA, CSR, and EPOCS technology is not the same as ConocoPhillips’s CSI technology.
About In-Depth Geophysical and In-Depth Compressive Seismic
Headquartered in Houston, Texas, In-Depth Compressive Seismic (http://www.indepthcompressive.com) and In-Depth Geophysical (http://www.indepthgeo.com) are focused on R&D and providing compressive seismic data acquisition design, reconstruction and processing services in the US and worldwide.
Announcement by Crain Caton & James, P.C.