COGNITIVE Geology, an Edinburgh-based data analysis firm, has been boosted by a £2m investment from Maven Capital Partners and Enso Ventures, writes Kevin Scott.
The funding will accelerate the roll out of the company’s Hutton software to oil companies and enable it to develop a pipeline of products to help geologists find, appraise and develop reserves.
Founded in 2014 by geologist Luke Johnson, Cognitive recently launched Hutton, its first advanced geological data analysis tool. It is designed to reduce the uncertainty of subsurface analysis by spotting trends in complex geological datasets, thereby reducing investment in the mapping of oil reservoirs, drill planning and production itself.
The geoscience software market is expected to double from its current $4.5 billion size in the coming years.
David Milroy, investment director at Maven said: “By providing geologists with the most robust geological explanations for their data so they can make more informed decisions, Cognitive is directly addressing a market need.”
Meanwhile, Aberdeen-based Exceed, a well management and performance improvement specialist, has announced it will create 20 jobs, having been awarded a contract by Alpha Petroleum Resources for its forthcoming Cheviot Field development campaign.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here