The new E&P software house, Transform Software, founded last year by former Landmark Graphics employees Dean Witte and Murray Roth, has succeeded in raising some $2.25 million venture capital from sources including Quest Capital Partnership, co-founded in 1997 by former SEG President Rutt Bridges (also ex-Landmark). The money will be used to expand operations and deliver upstream interpretation software later this year. Transform’s first offering combines 3D visualization and integration techniques to ‘streamline the fusion of E&P data, including full-wave seismics, and to ‘simplify the creation of geologic models.’
Witte
Transform CEO Dean Witte said, ‘Most E&P software originated 10 or even 20 years ago so there is an urgent need for innovation to meet modern E&P challenges. Transform’s software will connect with existing data and IT environments, adding powerful extensions to streamline the transition from geoscience data to drilling and reservoir engineering decisions.’
Leatherman
Quest president Steve Leatherman added, ‘It is rare to see experienced management and top-flight technology people join together in a start-up venture like Transform. What excited us about this investment is the combination of personnel experience spanning technology innovation, business development and fiscal management. Coupled with the current oil and gas market financials, we feel that Transform is a unique opportunity.’
Open
Transform leverages an ‘open technology infrastructure’ in its new interpretation system which will support geoscience interpretation, depth conversion, seismic inversion, geologic and reservoir property modeling. System output can be transferred to Eclipse, VIP, CMG, etc. for simulation. A well planning function will also be included. Transform connects to multiple data stores with OpenSpirit and offers multiple views of the same data scene or multiple, synchronized scenes containing data from different domains. Transform is to launch at the Society of Exploration Geophysicists (SEG) Houston meet in November.
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