GeoQuest announces release of Merak 2001 Value Management software suite
New ability for oil and gas industry to use advanced risk analysis in the tracking of cashflow and production is among the many across-the-board technology advances
GeoQuest, the software division of Schlumberger Oil & Gas Information Solutions, today announced the release of the Merak 2001 Value Management software suite.
The 2001 release is comprised of Peep software, the industry's leading economic evaluation and decline analysis tool; the Capital Planning decision support and portfolio management application; the VOLTS reserves tracking and reporting system; and the Decision Tree risk management and analysis application. The release of Portfolio 2001, a corporate value management tool, will follow the Value Management release in September of this year.
Risk analysis remains at the forefront for the oil and gas industry and the Merak Value Management suite. Understanding risk, optimizing development, predicting value and evaluating options are growing client challenges as the pace of the industry accelerates. The 2001 version of Decision Tree now provides Microsoft Excel as a calculation engine in addition to Peep, within the Visual Monte Carlo (VMC) module. This new functionality is a sizable improvement for clients working with the scriptable calculation engine to solve custom problems. Additionally, Peep's VMC and Monte Carlo modules now allow the tracking of probabilistic time series, such as cash flow or production.
"We've met our goals for significant product enhancements, superior usability for our clients, and increased cross-product integration with this 2001 release of the Merak Value Management suite," said Stuart O'Connor, vice president of the GeoQuest Merak product group. "Clients will find real value throughout whether they take advantage of Peep's integration with the OilField Manager (OFM) and VOLTS applications; the new project shifting and vizualization capabilities of Capital Planning; or the advanced operational cost and royalty calculation functionality now available with Peep's Decline module."
The GeoQuest Merak product group develops and markets a variety of software applications that combine the technical skills of petroleum engineers with the foresight of economists to allow the capital- intensive energy industry to make better business decisions. Over 600 companies in more than 30 countries use Merak software.
GeoQuest, the software division of Schlumberger Oil & Gas Information Solutions, is the E&P industry leader for the supply of integrated software systems to assist petroleum companies in optimizing the value of their oil and gas reservoirs. Schlumberger Oil & Gas Information Solutions (SIS), an operating unit of Schlumberger Oilfield Services, is the global industry leader for the supply ofintegrated business solutions comprised of GeoQuest software,information management services, information technology and a complete range of expert services. SIS enables petroleum companies to drive their business performance and enter into the iEconomy. SIS is on the Internet at http://www.is.slb.com
For questions or comments regarding the Merak 2001 Value Management suite release, please send an e-mail to info@merak.com or visit the Merak Release Center at www.merak.com/release.
Source: GeoQuest