Baker Hughes Inc. has sold its Petroleum WorkBench product line to Paradigm. The products will be incorporated into new offerings from Paradigm to support ‘informed production optimization decisions.’ Petroleum WorkBench includes the SimBest black oil simulator, the Comp5 compositional simulator, the Interpret well test tool and WBpvt for fluid characterization.
Paradigm CEO Eldad Weiss said, ‘We are committed to bridging the gap between geoscience and reservoir engineering to enable the digital oil field. Combining these new tools with Paradigm’s advanced visualization, reservoir characterization and well planning solutions will add value for our customers and for Petroleum WorkBench and Interpret users.’
The deal was backed by Paradigm’s principle investor Fox Paine whose MD Troy Thacker said, ‘We are happy to support Paradigm in this technology acquisition, which enables the company and its management to create exciting production optimization opportunities and expand their market reach.’
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