NEOS GeoSolutions

About NEOS GeoSolutions

NEOS GeoSolutions, founded in 2009 and headquartered in Houston, Texas, operated as a specialized geoscience company focused on multi-measurement subsurface interpretation for the natural resources industries. The company's mission was to assist exploration geoscientists in the onshore oil & gas and mining sectors in making more rapid and informed decisions regarding exploration, leasing, and drilling activities. NEOS's client base was diverse, encompassing energy ministries, national oil companies, E&P firms, mining companies, and governmental agencies. The firm's business model revolved around providing integrated analysis of multiple geological and geophysical (G&G) data sources, including seismic, gravity, magnetic, electromagnetic, radiometric, and hyperspectral data, to create detailed 3-D earth models.

The company offered a suite of solutions tailored to different project needs. The 'neoSCAN' solution provided a cost-effective and rapid interpretation of potential basins using publicly available geophysical databases, satellite data, and client-provided information. For a higher level of resolution, the 'neoBASIN' solution utilized company-owned aircraft equipped with advanced sensors to conduct aerial acquisition programs over prospective basins. The 'neoPROSPECTOR' service involved close collaboration with clients to identify drillable prospects by correlating various G&G measurements with known producing fields or mines. NEOS leveraged a multi-measurement interpretation (MMI) methodology, integrating newly acquired airborne data with existing seismic, well, and geologic information to produce highly constrained 3D models of the subsurface. This approach was designed to be more agile and cost-effective than traditional seismic-only exploration.

NEOS GeoSolutions attracted significant investment, closing a $60 million Series B funding round on January 18, 2011, with investors including Bill Gates, Kleiner Perkins, Goldman Sachs, and Passport Capital. A key figure in the company was CEO Jim Hollis, who joined in January 2010 after serving as President and COO of ION Geophysical Corporation. Throughout its history, NEOS made strategic acquisitions, such as purchasing the Denver land seismic data processing business from ION Geophysical in August 2015. The company's activities included projects like conducting airborne geophysical acquisition in Lebanon to assess the country's onshore oil and gas potential. According to market intelligence, NEOS GeoSolutions is now considered a deadpooled company.