TerraSpark Geosciences Announces Second Phase Capital Investment from Lime Rock Partners 

BOULDER, CO & HOUSTON, TX – December 6, 2011 – TerraSpark Geosciences is pleased to announce that Lime Rock Partners, an investor of growth capital in energy exploration and production and service companies worldwide, has completed a $4 million investment to accelerate TerraSpark’s growth in the seismic interpretation marketplace.  This investment represents a second round of funding for TerraSpark, bringing Lime Rock’s total commitment to $10 million. 

 

"The shortage of experienced seismic interpreters has created a need for smarter interpretation toolkits.  Insight Earth helps interpreters deliver unparalleled results in a fraction of the time, plus recent developments integrate the applications with commonly used processing platforms," said Trevor Burgess, Managing Director of Lime Rock Partners. "We look forward to partnering with management to grow the business."

 

TerraSpark is leading the way for customers in the energy exploration and production community with its Toolkit approach to seismic interpretation, an innovation developed since Lime Rock’s initial investment.  In this approach, key elements of TerraSpark’s patented technology are arrayed and sequenced in workflows designed to address critical customer needs, allowing users to achieve new levels of interpretation productivity and insight.  Current Toolkits include the Shale Resource Play Toolkit™, the Salt Velocity Modeling Toolkit™ and the Complex Structure Toolkit™.

 

“We see Lime Rock’s continued investment in TerraSpark as recognition of our performance capabilities by one of the world’s leading energy-related private equity investors,” said Geoffrey Dorn, Ph.D., President of TerraSpark. “Working with Lime Rock, we look forward to accelerated growth through reinforcing our sales, marketing and customer support initiatives and growing our interpretation and consulting services.”

 

TerraSpark’s Insight Earth is recognized within the exploration community for its ability to provide more than an order-of-magnitude reduction in interpretation cycle time and for its ability to deliver substantial reduction in exploration and development risk.

 

About Lime Rock Partners

Established in 1998, Lime Rock manages $3.9 billion of private capital for investment in the energy industry through Lime Rock Partners, investors of growth capital in energy companies worldwide, and Lime Rock Resources, acquirers and operators of oil and gas properties in the United States.   With $3.0 billion under management, Lime Rock Partners is a creative, value-adding, and long-term investor of growth capital in exploration and production, energy service, and oil service technology companies worldwide.  From four locations worldwide, the Lime Rock Partners team brings together a global network of relationships, deep interdisciplinary expertise in finance and energy company operations, and a strong track record of value creation.  For more information, please visit www.lrpartners.com.

 

About TerraSpark Geosciences

TerraSpark Geosciences (www.terraspark.com), based near Boulder in Westminster, Colorado, leverages its unique blend of upstream industry experience, geoscience expertise and computer science skills to deliver groundbreaking software solutions.  The company creates software tools for seismic data interpretation, seismic data processing, directional well-path planning and 3-D visualization. Its leadership in industry consortia and interpretation technology and history of successful patents distinguish them in this highly technical field. 

 

© 2011 TerraSpark Geosciences, LLC.  All Rights Reserved.