Posts tagged ‘Paradigm’

Paradigm Secures $65 Million Investment, John Gibson Departs as CEO

Paradigm, provider of oil and gas software solutions, announced a $65 million cash investment from affiliates of private equity firm Fox Paine & Company, Paradigm’s majority shareholder. The capital raised will enable Paradigm to accelerate the commercialization and rollout of breakthrough technology.

            “Our enhanced financial position will allow us to accelerate the commercialization of recent game-changing R&D breakthroughs, which should result in aggressive topline growth in 2010 and beyond,” said Paradigm Vice Chairman Eldad Weiss.

            Paradigm also announced the departure of John W. Gibson, Jr. after 4.5 years as Paradigm CEO.

            “We thank John for his efforts on behalf of Paradigm and wish him well in his future endeavors,” said Saul Fox, Paradigm Chairman and CEO of Fox Paine & Company.

www.pdgm.com

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January 5, 2010 at 1:34 am Leave a comment

Santos to Implement Full Suite of Paradigm Solutions

Paradigm has signed a multi-year contract to provide Australia-based Santos Ltd. enterprise access to the full scope of Paradigm seismic interpretation and reservoir characterization products.

            “After a detailed technical evaluation, we selected Paradigm technology for the functionality of their interpretation and characterization applications,” said Trevor Brown, VP Exploration, Santos. “At Santos, we place a strong emphasis on integrated workflows and data management, backed up by functionally rich applications.”

            The Paradigm seismic interpretation solution provides geoscientists multiple 2D and 3D tools for creating seamless interpretation and analyzing seismic data. This improves interpretation time and greatly assists geoscientists in identifying potential exploration prospects and drilling targets. Paradigm reservoir characterization applications enable the integration of the interpreted model with reservoir properties obtained from well logs and core data so that engineers are better able to determine potential reserves and fluid flow behavior.

            “Santos truly has technology at its core and believes in using cutting-edge science to generate real value,” said David Betty, Exec. VP Asia Pacific, Paradigm. “At Paradigm we share this vision and look forward to helping Santos meet its evolving business needs throughout the coming years.”

www.pdgm.com

www.santos.com

October 14, 2009 at 2:10 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

Paradigm Launches StratEarth 2009

Paradigm announced the release of Paradigm StratEarth 2009, designed to bridge the gap between seismic and geological interpretation. Offered as an add-on to Paradigm SeisEarth, StratEarth provides a tightly integrated geological correlation and cross-section environment for evaluating and assessing reservoirs for better well positioning and field management.

StratEarth fully incorporates geologic and seismic data to facilitate advanced workflows that support exploration and development projects from initial interpretation to advanced subsurface modeling. Furthermore, the software suite enables users to correlate hundreds of wells automatically and quickly detect any inconsistencies between seismic data, petrophysical data, well markers and geological data in markers positions and orders.

“StratEarth expands the Paradigm solution continuum, delivering a unique toolset that dramatically enhances the way geoscientists and engineers are able to interpret and interact with their data,” said Duane Dopkin, Paradigm’s Senior VP of Technology. “By streamlining the process between seismic and geologic interpretation, StratEarth enables users to operate within challenging time constraints and increasingly complex environments while achieving faster, more accurate results.”

The StratEarth 2009 suite provides users with intuitive interfaces to facilitate common workflow elements and an extensive suite of data analysis tools. StratEarth also offers seamless interoperability with Paradigm SKUA® 2009, an most advanced subsurface modeling software suite, enabling rapid construction of geologically valid, simulator-ready reservoir models from all available data.

www.pdgm.com

July 22, 2009 at 10:30 pm Leave a comment

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