Archive for February 24, 2010

Merrick Systems Launches Hosted Production Technology Solution

Houston-based Merrick Systems announced the launch of its Software as a Service (SaaS) technology solution, based on the company’s Production software suite. With this service, Merrick allows companies to host their choice of Merrick’s production software package – Field, Operations or Enterprise – on its secure online environment. Merrick’s production software packages include field data capture for volumes, inspection and maintenance, production operations, hydrocarbon accounting, regulatory filings and Web-based management reporting.

“Merrick has been informally supporting clients who lack the necessary IT resources with hosting services for several years,” stated Clara Fuge, VP Production, Merrick Systems. “Responding to the growing demand for our hosted services, we recently invested in expanding our infrastructure to serve a larger market and assembled a team that is highly experienced in running data centers for the oil and gas industry and hosting software solutions for a large number of clients. To help companies choose only the features they need for their business, we also repackaged our software offerings. Of course, our hosting services are backed by Merrick’s Support and Consulting Team that has worked on implementing, training and integrating our software in our existing clients business for over 15 years.

“Working alongside our clients, Merrick’s Infrastructure Team works to set up the hardware and communications, manage the maintenance and upgrades of the hosting servers, conduct necessary system software maintenance and monitor overall system health. We also assist with routine tasks, such as adding new users, resetting passwords, ensuring weekend connectivity support and monitoring response time. Moreover, with our hosted service, clients always have access to Merrick’s latest software,” Fuge added.

“Merrick’s hosted solution can yield significant increases to our clients’ bottom lines and amplify the economic appeal of our production technology to a greater segment of the oil and gas market. The flexibility to choose between licensing and hosted services helps our clients optimize the application of their strategic resources without compromising the quality and efficiency of their operations – an imperative benefit in today’s volatile economy,” said Samina Farid, Merrick’s co-founder and CFO.


February 24, 2010 at 10:52 pm Leave a comment

Fugro-Jason Releases Latest Geologic Modeling Software

Fugro-Jason announced EarthModel FT 4.1, the latest version of its geologic modeling software, which completed the transition its acquired FastTracker technology into the Jason Geoscience Workbench family of products. EarthModel FT 4.1 is built upon the UpdateAbilityTM and TrackAbilityTM capabilities that allow geomodelers to update their subsurface models quickly to keep pace with the changing understanding provided by new wells, production information, etc. Fugro-Jason is a leader in reservoir characterization technology for the oil and gas industry.

“Fugro-Jason acquired Volumetrix and their product Volumetrix FastTracker in 2003, and the stratigraphic grid building and deterministic model building capabilities were incorporated into the Jason Geoscience Workbench (JGW) as EarthModel FT for Low Frequency Modeling,” said Joe Jacquot, Strategic Marketing Manager for Fugro-Jason. “Now the stochastic modeling and upscaling capabilities are being released within the JGW environment as additional modules in the EarthModel FT 4.1 release. The entire geologic modeling product line is now called EarthModel FT Geologic Modeling Software.”

“Fugro-Jason is a leader in seismic-to-simulation technology,” said Eric Adams, Fugro-Jason Managing Director. “The stochastic modeling and upscaling capabilities added to EarthModel FT 4.1 streamline the link from Petrophysics – Rock Physics to Rock Properties from Seismic into dynamic reservoir simulation models, increasing our customers’ ability to build accurate reservoir models that yield accurate production forecasts.”

EarthModel FT 4.1 Geologic Modeling Software will be available as a standalone system beginning March 8, 2010, and as additional modules in the Jason Geoscience Workbench in the third quarter of 2010.

February 24, 2010 at 10:51 pm Leave a comment

PEMEX Awards Seismic Data Processing Contract to GX Technology

ION Geophysical Corp. announced that its seismic imaging subsidiary, GX Technology (GXT), has been awarded a multi-year contract with Petroleos Mexicanos (PEMEX), the national oil company of Mexico. Under this contract, GXT will be delivering a broad range of seismic data processing and imaging services for multiple offshore and onshore projects during the next three years. To execute the work, GXT has established a local presence in Villahermosa, Mexico, where PEMEX’s exploration headquarters are located.

GXT will utilize its proprietary imaging technologies to process and interpret seismic data acquired on behalf of PEMEX, including in deepwater regions of the Gulf of Mexico, in highly complex subsalt areas, and in various onshore regions throughout Mexico. The scope of services includes velocity model building and pre-stack depth migration (PreSDM) using both beam migration and reverse time migration (RTM) techniques. By establishing a presence in Villahermosa, GXT professionals will be able to collaborate closely with their PEMEX counterparts on a daily basis in order to accelerate the interpretation of the imaging results and to identify new exploration and development drilling targets rapidly.

Jose Antonio Escalera, Sub-Director of Exploration Technology at PEMEX, commented: “PEMEX will be investing heavily in hydrocarbon exploration and development in the years ahead. Much of this investment will be directed at E&P projects in which the targets are located in complex geologic regimes, including in fractured carbonate and deepwater subsalt reservoirs. Processing these datasets requires the most advanced imaging techniques. GXT is well suited to help us address these challenges and have demonstrated their ability to deliver superior images within our required timeframes.”

February 24, 2010 at 9:38 pm 1 comment

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