Page 13 - NorthAmOil Week 38

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NEWS IN BRIEF
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in five key curve types: Gamma, Resistivity, Density, Neutron and Sonic. With accuracy rates well into the high 90% range for most curves, the data coverage and accuracy are unprecedented.
Quantico will leverage its QRes solution, which combines physics-based approaches with machine learning to map the subsurface within a fraction of the time as conventional inversion software. QRes delivers earth model properties in significantly higher resolution than available today, and can deliver advanced attributes such as Porosity, Water Saturation, Compressive Strength and Wellbore Stability Curves that historically have been challenging to ascertain from seismic inversions.
By integrating QRes with TGS’s data library and ARLAS solution, oil companies will have turnkey access to the most comprehensive geoscience data and technologically-advanced AI solutions to deliver maximum production with faster cycle times.
TGS AND QUANTICO ENERGY SOLUTIONS, September 17, 2019
AWC Frac Valves acquires NorMak, expands footprint and strengthens aftermarket frac valve capabilities
AWC Frac Valves, Inc. is pleased to announce that it has completed a definitive asset purchase agreement with NorMak Machine and Hydraulic, a specialty frack valve repair facility in Ft. Collins, Colorado. AWC is a recognised leader in the design, manufacturing, repair and refurbishment of hydraulic frack valves.
AWC plans to integrate NorMak’s frac valve repair and machine capabilities into
its current portfolio, further strengthening AWC aftermarket frac valve repair operations. With this addition, AWC expands its current operations to cover the DJ, Bakken, and the Powder River Basin.
Joe DeGeare, AWC CEO, noted: “This transaction is a major step towards our planned expansion of our aftermarket services into new areas and creates a stocking point for new valve sales, rentals and parts.”
AWC’s commitment to the highest-level of customer service for the entire lifecycle of a frack valve is a key differentiator. NorMak shares a similar culture.
“We have worked to establish ourselves as a leader of frack valve repairs in the Rocky Mountain area and I believe AWC will continue this leadership position and further
support the expansion plans of NorMak. This combination will provide many additional opportunities for NorMak’s employees and customers base,” said Dusty Shefferd, Owner and Founder of NorMak Machine and Hydraulic.
AWC is driven to deliver the fastest response time to our customers’ demands
– providing comprehensive services to put their assets back to work with as little cost and downtime as possible.
AWC FRAC VALVES, September 18, 2019
MOVES
Emerson accelerates digital transformation of oil and gas industry with cloud- hosted software suite on Microsoft Azure
Emerson, a global engineering and technology company, announced its entire exploration and production (E&P) software suite is now available on the cloud, enabling oil and gas companies to securely take advantage of digital technologies to better model and optimise production in new and established reservoirs. A leading independent provider of E&P software, Emerson now delivers seismic processing and imaging, data interpretation, subsurface modelling, formation evaluation, reservoir engineering, production optimisation, and other services with faster, more powerful computing power to connect critical subsurface intelligence with surface operations.
The enormous growth in the volume and complexity of petrotechnical data,
combined with the need to reduce costs and enhance productivity in the E&P market, poses a growing challenge for today’s chief information officers. Emerson addresses these challenges by utilizing cloud computational horsepower while leveraging proven and reliable machine learning algorithms and other technologies. Harnessing the power of Microsoft Azure also provides more flexible, scalable and collaborative work processes, helping operators increase efficiencies and achieve top quartile performance – operations and capital performance in the top 25% of peer companies.
“With our E&P software-as-a-service model and long history of domain experience, Emerson is well positioned to lead the cloud transformation for the oil and gas market,” said Peter Zornio, chief technology officer with Emerson’s Automation Solutions business. “Our customers can now enjoy
the same benefits from our software suite, whether they choose to run it locally, host it on the cloud, or use a hybrid of both. This expanded platform provides greater data analytics power and flexibility for some of the most challenging operational environments in the industry. When you combine our software with our technology and experience in the production area, we have a unique capability in the oil and gas marketplace.”
EMERSON, September 17, 2019
Tortoise completes acquisition of Advisory Research’s midstream energy business
Tortoise today announced it has completed
its previously announced acquisition of the midstream energy asset management business
Week 38 24•September•2019
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