Archive for July 24, 2009

Plains All American Taps P2ES for JV Accounting Software

Software provider P2 Energy Solutions announced that Plains All American Pipeline has implemented its Enterprise Upstream software to handle its joint venture accounting. Enterprise Upstream is an integrated, Web-based solution that streamlines administrative processes and centralizes information access and data management across different business departments. Developed on the Oracle technology platform, Enterprise Upstream integrates with the Oracle E-Business Suite and can be connected to other ERP software solutions. The complete Enterprise Upstream Suite includes deep oil and gas functionality in the areas of business intelligence, operations accounting, volumes management and land management. “We wanted to replace our existing joint venture accounting system with a system that was integrated with the Oracle E-Business Suite,” said Al Lindseth, Sr. VP of Technology, Process & Risk Management at Plains All American. “We were looking for increased capabilities that would streamline our accounting processes and eliminate the need to support a disparate data system.” Plains All American has implemented the Enterprise Upstream Joint Venture Accounting (JVA) module, which allows for multiple cost centers per Division of Interest (DOI), allocates costs, manages billing processes, generates invoices and statements, and provides the data for analyzing operating costs. “By standardizing on a single ERP software platform, Plains All American will be able to leverage the efficient and standardized process built into Enterprise Upstream,” said Bret Bolin, President and CEO, P2 Energy Solutions. “This will facilitate the workflows of Plains All American and improve access to decision-quality data that crosses geographic and business unit boundaries.” www.p2es.com

 www.paalp.com

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July 24, 2009 at 11:02 pm Leave a comment

Optelligent Solutions Joins Building Enterprises Selling PODS

Optelligent Solutions, provider of integrated data mining solutions and consulting services to upstream oil and gas companies, announced today that it has joined the PetroComputing IT Selling PODS™ recently launched by Building Enterprises Inc., provider of Professional Outsourced Development and Sales (PODS). This revolutionary new selling consortium leverages a single sales team among multiple, non-competing software vendors who are all trying to reach the same target market of sales prospects. The PetroComputing IT Selling PODS™ targets upstream oil and gas companies looking to improve the profitability of their current producing assets.

Optelligent Solutions has developed specialized data mining solutions for fluid flood optimization, project portfolio optimization and screening prospects for acquisition and divestiture of oil and gas properties, all of which are tools that are increasingly needed in the current economic situation. However, this downturn environment is not conducive to hiring full-time sales staff to sell these solutions to the oil and gas companies, particularly at small, emerging companies such as Optelligent Solutions.

Buddy Rhodes, President of Building Enterprises Inc., observed: “Due to the current economic downturn, we have found that many companies are cutting back on their sales expenses and even laying off their business development people. This is a big mistake, in our view, because this is cutting the life blood of the enterprise. That is why we developed the new Selling PODS™ business model, which employs the concept of ‘Leverage By Sharing.’ Similar to a co-op where multiple farmers share the cost and use of an expensive tractor or combine, Selling PODS™ are a low-cost entry point to a full service sales team. Such a shared arrangement also offers surprising synergies through referrals and cross-selling.”

Tawsak Urwongse, President of Optelligent Solutions LLC, commented: “We developed our technology in partnership with a Canadian operator, tested it successfully in several field projects for producing companies in the U.S. and Canada, and now we want to expand our business. But we are scientists and engineers, not salesmen. Our business so far has been based on personal contacts and relationships, which has limited our business growth. It is difficult, at this phase of our business, however, to justify hiring our own professional sales team. We met with Building Enterprises to discuss our sales needs and we decided to outsource our sales support to them, since this is their core competency. We look forward to having them help us grow faster by bringing us lots of new business.”

 About Optelligent Solutions LLC

Founded in 2006, Optelligent Solutions develops data mining solutions for the oil and gas industry that integrate cutting-edge technologies for data visualization, regression tree analysis, fuzzy logic, neural networks and genetic algorithms for the purpose of optimizing waterfloods, screening prospect opportunities and maximizing profits from E&P portfolios. Based in Houston, this group of highly trained technologists and business professionals with experience in data mining, decision sciences, database systems, data management and system integration use these high-tech tools to consult with operators on oilfield asset management, production optimization and petroleum geology. For more information, visit: www.optelligentsolutions.com

About Building Enterprises Inc.

Founded in 1982, Building Enterprises has been accelerating its clients’ business growth through strategic sales processes, enabling them to double or triple the effectiveness of their sales efforts. The company provides full selling teams to its clients, including inside and outside sales staff, sales management, marketing and channel sales partnering. BEI Selling PODS™ provide a way for several companies to share an outsourced sales team targeting a common market of sales prospects. Currently, Building Enterprises is developing the following Selling PODS™:

  • PetroComputing IT – targeting the Upstream Oil & Gas Software market; and
  • Turnaround, Shutdown & Maintenance – targeting the Refinery and Petrochemical market;
  • Financial and Tax – targeting CFOs at mid-sized organizations.

For more information, visit www.beweb.us

July 24, 2009 at 12:11 am Leave a comment

OMV Implements IDS DrillNet for Global Operations

IDS, provider of Web-based daily reporting services, has signed a new contract with European oil and gas company OMV to install the company’s DrillNet service across its global operations. DrillNet allows data and documents to be recovered instantly and analyzed, producing a customized daily drilling report, dozens of associated summary reports and a final well report.

Because OMV is a global company, it is important that its reporting system is Web-based to ensure maximum data transparency across the enterprise. DrillNet is the first online, WITSML-enabled drilling reporting service that offers an intuitive user interface supported by powerful analysis and reporting tools and a fully integrated search engine. This enables OMV to analyze performance data at a global scale as well as import data from OMV’s historical database.

Markus Doschek, technical support team leader for well engineering at OMV, said: “We have worked with IDS to custom-build a reporting tool that works for our diverse global operations. The Web-based nature of the system gives us unparalleled accessibility, while still maintaining utmost security. The pricing model offers ‘no use, no charge,’ which makes it an extremely cost-effective option for our company.”

The system makes it easy to enter data with a minimal amount of time spent by engineers at the rig site. The Web-based solution gives OMV the greatest flexibility of data entry. IDS’s suite of reporting tools, DataNet2, is also fully integrated, so OMV has the option of utilizing any of IDS’s other reporting services in conjunction with DrillNet.

Beth Anderson, IDS business development manager for the UK & Europe, said: “We are delighted to have signed this contract with OMV. We have gotten to know their team very well while we have worked with them to adapt DrillNet to their specific needs, and we are looking forward to a continued good relationship.”

www.idsdatanet.com

www.omv.com/portal/01/com

July 24, 2009 at 12:06 am Leave a comment

Paradigm Unveils GeoDepth Tomography for Advanced Seismic Processing

Paradigm has released Paradigm GeoDepth® Tomography, a next-generation, grid-based velocity model solution that enables geophysicists to update rapidly the largest velocity models developed from complex geologic regimes. Tomography is the newest addition to the Paradigm GeoDepth software suite, delivering enhanced seismic imaging quality, reduced interpretation uncertainty and increased productivity.

The GeoDepth Tomography solution addresses the computational, interpretational and acquisitional challenges of updating large and complex velocity models for critical seismic assets. It provides added capacity for handling rich azimuth acquisitions and updating anisotropic parameters in sedimentary layers.

“Our new tomography application carries the imprint of years of theoretical and applied experience in velocity model updating,” said Zvi Koren, senior research fellow and chief geophysicist at Paradigm. “GeoDepth Tomography will have a huge impact on our customers’ imaging projects.”

GeoDepth Tomography leverages the Paradigm high-performance computing infrastructure as well as its interpretation solutions to deliver automatic velocity updates. The solution minimizes iteration cycles by combining rich, high-quality ray tracing with new tools that automatically reflect surface picking and pre-stack residual moveouts.

“GeoDepth Tomography provides the industry-proven GeoDepth suite with new, innovative capabilities that simplify and enhance the velocity modeling process,” said Duane Dopkin, Paradigm’s Senior VP of technology. “By combining and automating complex tasks, this application can dramatically improve project turnaround time, allowing geophysicists to operate within challenging time constraints while still achieving the high quality results.”

www.pdgm.com

July 24, 2009 at 12:04 am Leave a comment

2H Offshore Provides Mooring Line Monitoring System for SBM Offshore

2H Offshore recently supplied a real-time acoustic mooring line monitoring system called MOORASSURE™ to SBM Offshore. The monitoring system has been successfully deployed on the FPSO Espirito Santo located in the BC-10 field offshore Brazil and was fully commissioned in May 2009.

The Espirito Santo FPSO consists of a subsea turret anchored with nine mooring lines, each with an acoustically linked inclinometer attached to the chain hawse to measure the inclination of the mooring line. The accompanying data logger features onboard memory storage of the data provided by the tri-axial inclination sensors. It has a battery life of five years and features full acoustic communication.

The measured inclination is transmitted from all the mooring lines to three acoustic receivers mounted on the chain table of the turret to achieve cable-free data communication. Software is able to present historical tension and angle data to the users, allowing them to make informed conclusions about how the mooring lines are performing.

In addition to the mooring line monitoring facility, polyester line creep can be evaluated, enabling users to calculate the length of mooring line that needs to be reeled back in order to restore target tensions.

www.2hoffshore.com

www.sbmoffshore.com

July 24, 2009 at 12:02 am Leave a comment


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