AAPG Convention New Orleans 2000

PDM spent a pleasant week in New Orleans last month. While not basking in the spring sunshine or listening to the jazz we managed to check out a few of the exhibitors. Despite the less than favorable industry climate, things are moving along fast in areas such as e-commerce and application service provision with many new offerings and older products re-vamped to embrace the new paradigms.

Merak (now part of Schlumberger-GeoQuest) is to supply its “Volts” volume tracking system to Norwegian Norsk Hydro. Volts tracks multiple reserve volumes using volumetric or material balance calculations. Volts can combine historical, current and forecast production information to optimize production reporting.

SEC Reporting

Volts is an Oracle-based year-end and reserves reporting system and was designed to automate governmental and SEC reserves reporting. Hydro’s project manager Knut Kvingan said “Volts provides the basic tracking system required for Norsk Hydro.

Prospect Tracking

We plan to use the application as a prospect tracking system for strategic and competitive analysis. It is very important to us that Volts can be customized for these business processes.”

Fifty Volts

Fifty Volts licenses will replace an internal system that has been in place since 1989. Kvingan added “Our legacy system was costly to maintain and did provide the required flexibility.” Volts is part of Merak’s Value Management Suite Release 2000.

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