ARKeX, a worldwide leader in geophysical imaging technology, has successfully raised US $30 million in a deal that marks the largest venture capital round in its sector for five years.

The investment was led by Ferd Venture of Oslo, Norway, and included existing investors Energy Ventures of Stavanger, Norway; Scottish Equity Partners of Glasgow, UK; and members of ARKeX senior management. This is the third round of funding raised by ARKeX since 2004 and the largest venture round for a service company supplying the onshore and offshore oil and gas E&P sector since 2003.

ARKeX’s technology has already had a significant impact on exploration strategy by reducing overall exploration risk, making it a valuable leading-edge exploration tool for major energy corporations.

The company will use the funds to expand the operational capabilities of its airborne BlueQube gravity gradiometry imaging service and to accelerate production of its proprietary technology, the Exploration Gravity Gradiometer (EGG).

ARKeX’s gravity gradiometry technology measures minute variations in the earth’s gravitational field. It helps resolve complex geology, overcome seismic imaging difficulties, and survey large areas quickly and cost-effectively. Gravity gradient imaging is becoming an increasingly important tool for oil, gas, and mining exploration companies, and the new investment will take ARKeX’s BlueQube service to more globally diverse energy basins.
For more information, visit www.arkex.com.