Michael S. Bahorich Joins SIGMA³ Advisory Board

Houston – January 20, 2016 – Sigma Cubed Inc. (SIGMA³), leading provider of GeoEngineering™ solutions to help oil companies lower finding and development costs and increase production, announces the appointment of Michael S. Bahorich to the company's newly formed Advisory Board. A respected industry innovator, award-winning geoscientist, and retired Executive Vice President & Chief Technology Officer of Apache Corporation, Bahorich brings a complementary and diverse set of business strategy and technology expertise to the SIGMA³ executive management team.

"Throughout his career, Mike has demonstrated an instinctive ability to anticipate and overcome business challenges by applying groundbreaking solutions," says Jorge Machnizh, President & CEO of SIGMA³. "He is passionate about innovation and the advancement of technology, which is of utmost importance in today's market where many operators are looking for ways to reduce inefficiencies and drive down the cost of finding and developing oil & gas assets. Mike is a respected and influential figure in the industry, and we look forward to his guidance as we continue help our clients achieve business success in this challenging and volatile commodity price market."

"Improvements in multi-frac horizontal wells and related technologies have driven the increase in oil & gas production that we've seen in the U.S.," says Mike Bahorich. "Yet, despite the efficiency and production benefits, operators pay a steep price because the technology is expensive, and billions of dollars are wasted since a significant percentage of frac stages don't produce as expected. I'm excited about what the SIGMA³ GeoEngineering team is doing to integrate reservoir characterization, engineering and microseismic to help operators hit the sweet spot of the reservoir and apply fracture stimulation programs that reduce costs while maximizing EUR."

Spending the past 15 years in leadership roles at a large independent oil company, Bahorich says that he has seen firsthand the value that technology can bring, especially the step changes that come when the disciplines are used in an integrated fashion to solve a problem. "Looking at one aspect of a problem is never as powerful as looking at it from all sides. Getting the most information from each discipline allows better answers than any single technology," he adds. "Geoscience and engineering should not be done in silos. I'm impressed by the level of efficiency-driven technology and integrated workflows offered by SIGMA³."

"Given the amount of CAPEX required to drill multi-frac horizontal wells, why gamble when you can spend a small fraction of that to ensure you are drilling wells in the sweet spot and stimulating them in the best possible rock? The investment will pay off multiple times," says Bahorich. "Success is about people, and I'm impressed with the staff and leadership at SIGMA³. I believe in this integrated approach and look forward to working with the SIGMA³ team as this technology becomes a mainstay in the market."

Bahorich retired as Executive Vice President and Chief Technology Officer of Apache Corporation in 2015, culminating 18 years of service to the organization, including Executive Vice President of Exploration & Production Technology, Vice President of Exploration Technology, and Chief Geophysicist. Prior to joining Apache, he was an exploration manager with Amoco. He spent three years with Amoco Research, where he patented two geophysical concepts that are now widely used in the industry. One of his research papers is the most cited article in the 30-year history of The Leading Edge, published by the Society of Exploration Geophysicists (SEG). Bahorich received the Virgil Kauffman Gold Medal from the SEG in 1998 for the groundbreaking Coherence Cube technology, and was president of the organization in 2003. He holds multiple patents, including 7 for geophysical technology and 2 for fracture stimulation.

Bahorich is a member of the board of trustees of the Houston Museum of Natural Science and the Star of Hope, a former director of Global Geophysical Inc., and has served on advisory boards at Stanford and Yale. He is a graduate of the University of Missouri at Columbia and received his Master's Degree in Geophysics from Virginia Tech.

About SIGMA³
Sigma Cubed Inc. (SIGMA³) addresses the demands of the next generation of conventional and unconventional resources producers through the development and delivery of unprecedented GeoEngineeringTM integration, resulting in better subsurface reservoir characterization targets and optimal frac and completion strategies. Operators can significantly increase production while reducing costs by fracturing the reservoir where it is most productive, and validating their results using the industry's most reliable microseismic acquisition, processing and imaging. Through a truly integrated, commercial portfolio of proprietary software, expertise and services, SIGMA³ helps clients target the sweet spots that will yield maximum EUR.


Media Contact:
Kathy Ashmore
k.ashmore@sigmacubed.com
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