CMG, IHS Markit and GE unit Baker Hughes have announced a technology alliance to ‘deliver a new level’ of geoscience analytics and engineering solutions to the upstream. The partnership sets out to offer a ‘new choice’ for integrated workflows spanning geological characterization, reservoir modeling, production data analysis and reservoir flow simulation. Software in the alliance includes IHS Kingdom, Baker Hughes JewelSuite and CMG’s reservoir suite of simulation software. The collaboration is to deliver ‘new levels of insight and efficiency for integrated geoscience analytics.’
IHS’ Russell Roundtree said, ‘Our customers want options, not inflexible, closed systems, to stay agile in these difficult times.’ Baker Hughes’ Martin Brudy added that the alliance would optimize connectivity and provide ‘adaptable, scalable and solutions.’
CMG recently reported its fiscal 2017 year-end results which are pretty spectacular for an upstream software house in the downturn. As of March 31, 2017, CMG had an enviable $63.2 million (Canadian) in cash, no debt and an $822.6 million market capitalization.
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