The Internet Property Exchange (IPX) was announced at the recent North American Prospect Exposition in Houston. The IPX deploys PetrisX web-based services to facilitate asset management, property valuations and transactions to be achieved through business to business (B2B) e-commerce. By incorporating industry standard financial evaluation tools into the site, PetrisX opens up property dealing to the investment community.
Each property offered on the site includes a dynamic review of the deal, flow assumptions and a template suitable for integration into the investor’s financial package. Seismic, well log data, production history, land, lease, legal, environmental, pipeline, cultural, and financial data can all be uploaded by a seller to a central server. Interested buyers can then download the information they wish to view, either browsing through minimal data sets on many prospects, or drilling into the depths of the data to evaluate a given property. Various levels of security enable sellers to restrict access to all or parts of their data.
Partner in the IPX is San Diego–based Science Applications International Corporation (SAIC). SAIC, in another partnership with VerticalNet, provides similar B2B services to the automobile industry through the Automotive Network eXchange- (www.anxo.com). You can check out the Internet Petroleum eXchange on www.petrisX.com
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