Archive for October 14, 2009

Baker Hughes Buys 40% Stake in JOA

JOA announced that Baker Hughes Nederland Holdings BV, a subsidiary of Baker Hughes Inc. (BHI), has acquired a 40% equity in the company. Under terms of the agreement, BHI will license and have unlimited access to JOA’s JewelSuiteTM software, an integrated reservoir modeling tool that uses patented 3D gridding technology for building accurate reservoir models. BHI will also fund a significant portion of the development required to incorporate some of BHI’s in-house engineering applications around the wellbore and its leading geomechanical technologies earlier acquired through GeoMechanics International (GMI).

            “Our investment in JOA is a strategic move that gives us direct access to a leading innovative software tool,” said Nathan Meehan, VP Reservoir Technology, BHI. “Using the JewelSuite software, our consulting teams – including Gaffney, Cline & Associates, RDS, Epic Consulting and GMI – will be better able to provide the most effective integrated solutions for the most complex reservoirs and development options. We also anticipate an opportunity for the JewelSuite software to become the integration platform for BHI’s in-house technologies. Finally, by integrating technology from our INTEQ product line with the software, we can provide our clients with accurate and always up-to-date looks at their fields.”

            The JewelSuite software’s unique patented 3D gridding technology provides the basis for a completely new way of integrated reservoir modeling. The Jewel grid, with its orthogonal, vertically stacked cells, has been recognized as particularly powerful when it comes to handling complex fields. While built with ease, JewelSuite models can also communicate reservoir complexity to reservoir simulators, giving users unparalleled connectivity and superior accuracy in simulation results when compared to other industry packages.

            “Uptake of our JewelSuite technology within the BHI organization will significantly extend our user base from operators of complex assets to highly trained and competitive consultants,” said Gerard de Jager, CEO of JOA Oil & Gas. “We are in the process of training BHI’s consulting groups, and we expect that they will be providing us with even more input to future development, while simultaneously showcasing JewelSuite’s strengths to clients. Through our funded development agreement, BHI will help us to realize our vision of providing truly integrated and always up-to-date reservoir models, at scales from detailed wellbore neighborhoods to full-field geomechanical models, all in the same framework.”

            JOA Oil & Gas has 58 employees in eight different locations. Gerard de Jager, JOA’s CEO, will ensure that the funding made available through this equity sale will be used to fast-track planned expansion and further growth of the sales and support organization.

www.bakerhughesdirect.com

www.jewelsuite.com

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October 14, 2009 at 4:05 am Leave a comment

Perfomix Announces PetroSocial RTO Gateway

Perfomix, a real-time operations management solutions provider, announced the launch of PetroSocial, the Integrated Real-Time Operations & Collaboration (IRTOC) Gateway at the Society of Petroleum Engineers’ 2009 Annual Technical Conference & Exhibition in New Orleans, LA. 

            PetroSocial is a vendor-neutral, Web-based, integrated, real-time operations and collaboration gateway for the Oil & Gas industry that can seamlessly bridge well sites with regional and headquarters locations. It empowers experts to handle operational issues before they become a problem – regardless of where they are physically situated.  This platform provides Web services APIs, integration repository and toolkit, and composite operations management gadgets while supporting open industry standards such as WITSML and PRODML. 

            The PetroSocial solution components include:

  • PetroFieldGenie – Field operations management, data aggregation and streaming;
  • PetroXchange – E&P data conversion, transformation, mapping and exchange services;
  • PetroGisticsHub – Central data store and WITSML and PRODML services;
  • PetroAlertGenie – Exception rules and alert management;
  • PetroPerfoMax – KPI dashboards and operational reporting; and
  • PetroDashBoard – real-time well views, collaboration tools, innovation applications launch platform and portals.

            The PetroSocial enterprise components can be deployed on premise at the customer’s IT center or can be offered as a Software as a Service (SaaS), while the PetroFieldGenie can be deployed on a small industrial computer running Windows or Linux OS at the well site.  The PetroSocial Platform facilitates transformational initiatives and digital breakthroughs in Oil & Gas industry. It comes with gadgets for Real-time Operations Centers (RTOCs) well monitoring, well surveillance dashboards, universal real-time viewer, well status reporting with GIS maps, shift management, operational reports and KPI monitoring. Other composite applications can be developed and deployed incrementally on this platform.  The cost savings from small operational innovations with these gadgets can fund longer term transformational digital oilfield initiatives. 

            “Perfomix is leveraging Web 2.0 technologies to bring together people, information and real-time data scattered across the field, the enterprise and the E&P community,” said Celestine Vettical, President and CEO, Perfomix.  “Because it is based on service oriented architecture, we are able to flexibly deploy innovative workflow scenarios on top of customers’ existing systems together with PetroSocial gadgets.  This enables service companies and operators to work collaboratively together to make faster and better decisions and reduce risk and non-productive time.”

            To accelerate the launch of the PetroSocial platform for real-time operations and collaboration, Perfomix introduced the IRTOC Gateway QuickStart program, which gives potential customers the opportunity to integrate 2-4 real-time data streams from 2-3 well sites as a proof of concept in only one month with minimal investment.  One of the deliverables of the QuickStart program is a real-time operations transformation roadmap covering PetroSocial deployment and rollout plan.

www.perfomix.com

October 14, 2009 at 4:02 am Leave a comment

Pason Systems Acquires Petron Industries

Pason Systems Inc. has acquired Petron Industries, provider of a comprehensive suite of equipment, software and sensors to acquire, manage, control and communicate all aspects of drilling operations both onshore and offshore.

            Petron’s current product offering includes:

  • Rig monitoring and data acquisition equipment;
  • Control and safety systems;
  • Drilling application software;
  • Sensors and instrumentation; and
  • Communication and remote data access services.

Founded in 1983, Petron is based in Houston, TX, and has offices in Texas, Louisiana and Arkansas.

            Pason Systems Inc., an oil services company, provides rental oilfield instrumentation designed and manufactured for use on land-based drilling and service rigs. Pason offers a tightly integrated package of complex services including data acquisition, well site reporting software, remote communications and Internet information management tools to oil and gas companies and drilling contractors in Canada, the US and internationally. Founded in 1978, Pason is headquartered in Calgary, with additional offices in the US, Mexico, Argentina and Australia.

            Pason recently unveiled two new products:

  • Remote Directional System – a cost-reduction solution for directional drilling companies; and
  • Optimizer – a standalone drilling simulation tool to improve the drilling process.

www.pason.com

www.petronworld.com

October 14, 2009 at 3:59 am 1 comment

Energy Ventures Invests in Reality Mobile

Energy Ventures LP has announced its involvement as the lead investor in the first round of external funding for mobile technology company Reality Mobile. The company is joined by CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, and communications investor the Dobson Partnership in providing a total of $6.5 million in funding that will introduce Reality Mobile’s dynamic communications and situational awareness technology to the energy industry and support expansion in existing markets.

            Founded in 2003, Reality Mobile has already made its mark in the defense and government sectors by developing and commercializing RealityVision®, an enterprise-grade software platform that uses commercially available smart phones and infrastructure to allow users to share real-time video and dynamic data with colleagues located anywhere in the world. Building on its success supporting law enforcement agencies during high profile events including President Obama’s inauguration and Super Bowl XL, Reality Mobile is now positioned to bring these unprecedented capabilities to oil and gas companies.

            “Imagine being able to instantly connect the right expert in your home office with an engineer in the Gulf of Mexico, and enabling them to see exactly what the other is seeing on the platform or in the data on their computer monitor. The savings in terms of time, travel and reduced downtime are virtually limitless,” said Leif André Skare, partner with Energy Ventures. “Reality Mobile’s seasoned management team, its strong track record and the sheer promise of its technology will pave the way for the company’s success in energy.”

            Energy Ventures’ extensive experience in oil and gas allowed the firm to quickly recognize Reality Mobile’s potential and uncover a niche for the technology within the energy market. The firm’s involvement promises to provide a platform for Reality Mobile to introduce its technology to key industry players and demonstrate its ability to maximize operational efficiency and enhance personnel security through available real-time video, GPS tracking and data monitoring processes.

            “We are very enthusiastic about Energy Ventures’ interest and involvement in Reality Mobile,” said Patrick McVeigh, Chairman of Reality Mobile. “Their skillful insight and proven track record in the oil and gas industry will be a valuable asset as we make efforts to successfully leverage our technology in this new market.”

www.meridium.com

www.energyventures.no

October 14, 2009 at 3:57 am Leave a comment

Schlumberger Releases Merak Enterprise Planning Software

Schlumberger has released its Merak Enterprise Planning (MEP) software, a next-generation technology that enables dynamic oil and gas business planning, including event-driven or evergreen plans.

            “With MEP, oil and gas companies can get fast answers to complex business questions for improved decision making,” said Olivier Peyret, VP Software Products, Schlumberger Information Solutions. “This software helps clients to proactively respond to changing market and operational conditions to achieve growth objectives.”

            In a preliminary field test with a large integrated, independent oil and gas company, MEP demonstrated 50% reduction in project processing time, increased confidence in results and 75% reduction in analysis time.

            Today’s oil and gas business planning process is often lengthy, cumbersome and sometimes ineffective in reflecting recent market and operational realities. MEP uses a unique oil and gas data management cube to align strategy with plans and budgets, simultaneously integrating reserves, production and financial data to reveal critical business insights for timely decisions based on continually updated business plans.

            MEP leverages Microsoft technologies to provide a collaborative platform for oil and gas business applications to generate valuable information in context using a robust calculation engine. Its data aggregation and mining capabilities deliver business intelligence and performance analytics in the context of an oil and gas enterprise.

            “This is another tangible result of the Microsoft and Schlumberger partnership. The combination of Microsoft’s industry-leading enterprise software platform with Schlumberger´s deep industry knowledge and expertise delivers a high value business solution, enabling faster and better decisions for individual assets as well as complex enterprise portfolios,” said Dr. Ali Ferling, Microsoft’s Global Managing Director, Oil & Gas Industry.

www.slb.com

www.microsoft.com

October 14, 2009 at 3:54 am Leave a comment

Halliburton Rolls Out Solution for Unconventional Gas

At the annual SPE meeting in New Orleans, Halliburton introduced a new solution to help operators address the challenges they face with unconventional gas reservoirs due to significant variances across plays, increasing reservoir complexity and rapid production decline.

            Halliburton’s Stimulation for the Digital Asset™ workflow now provides the capability to view real-time stimulation data in engineering, geological and geophysical interpretation environments. This enables operators to use all available information to monitor and adjust treatments on the fly as well as design better stimulation treatments, improve perforation strategies and improve field development plans. This workflow brings together leading solutions from Halliburton’s fracturing, microseismic mapping and software products and services.

            Said David King, president of the Completion and Production Division of Halliburton: “Experience shows that improving overall reservoir understanding, along with offering customized solutions, can help operators develop assets that could not be technically or economically produced before.”

www.halliburton.com

October 14, 2009 at 3:51 am Leave a comment

Meridium Launches New SIS Management Module

Virginia-based Meridium, provider of asset performance management (APM) software, announced a new product solution, SIS Management, at the ISA Expo ’09 conference in Houston. 

            Successful process automation companies realize that assessing, designing, managing and maintaining safety instrumented systems (SIS) are critical to reliably and safely manufacturing products that otherwise would be hazardous to produce. Meridium’s new SIS Management module addresses the need to maintain and manage the reliability, performance and compliance of these critical systems. The functions integrated into Meridium SIS Management are Safety Integrity Level (SIL) assessments, SIL validations, proof testing and reliability analyses. With the integration of these functions, a closed-loop process is achieved.

            “Meridium is putting the ‘life’ into SIS Life Cycle Management,” said Steve Soos, Meridium Product Manager for SIS Management. “We are providing an SIS Management tool for the owner-operator with full integration to our Hazards Analysis functionality and interfaces to the user’s CMMS/EAM systems, as well as connectivity with Emerson Process Management’s AMS® Suite.”

            This new application is based on international industry standards such as ISA 84/IEC 61511 and IEC 61508 and provides a means of defining the safety/protective instrumented functions, which are evaluated and assigned a Safety Integrity Level. The SIL can be assessed by risk matrix or Layer of Protection Analysis (LOPA). With SIS Management, integrated with Meridium’s new Hazards Analysis application, the safety instrumented function (SIF) definition development process and SIL assessment can be greatly accelerated by reducing the data entry process.

            Meridium’s new SIS Management application utilizes exida’s exSILentia SILver calculation engine, as well as its Safety Equipment Reliability Handbook (SERH) database.  The inclusion of this SERH reliability data, as well as exida’s TUV-certified calculation engine, into Meridium SIS Management will provide users across the enterprise with a comprehensive, easy-to-use SIS life cycle management system. Seamless data exchange between the two tools will vastly improve overall efficiency and functionality for customers.

            “Meridium is excited to provide our newest solution, SIS Management, an enterprise application that includes workflows and data-capture tools to support the entire safety life cycle of production assets,” said Bonz Hart, Meridium President and CEO. “This new functionality will enable rigorous analysis to help our clients worldwide to define optimum maintenance and operational strategies to ensure the safety and health of plant personnel and the environment, as well as regulatory compliance for their facilities.”

www.meridium.com

October 14, 2009 at 3:49 am Leave a comment

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