Paradigm has made great progress in almost every part of our business in 2014. Here is a brief overview of our achievements this year:
Strengthened relationships with existing customers and partners
- Paradigm signed a new long-term contract with Chevron Energy Technology Company, a division of Chevron U.S.A. Inc., that provides access to an expanded Paradigm product portfolio. In addition to the company’s interpretation and modeling solutions, which Chevron has deployed globally over the past seven years, the expanded agreement adds Paradigm solutions for formation evaluation, and access to licenses for seismic processing and imaging, and drilling engineering. The broad level of expansion is based on a mutual priority to develop solutions that directly address the needs of Chevron asset teams.
- We renewed our value-added reseller agreement with Mira Geoscience for the delivery of SKUA-GOCAD™ modeling software to the global mining industry.
- Tricon Geophysics, Inc., a geophysical, petrophysical, and reservoir services company, extended its portfolio of Paradigm software solutions. In addition to expanded access to core Paradigm software offerings, Tricon will leverage the Paradigm EarthStudy 360® full-azimuth angle domain imaging and analysis system to offer its clients asset-targeted seismic imaging and reservoir characterization services for sub-salt and shale resource plays.
Paradigm announced the offering of our Sysdrill well planning and drilling engineering solution on the Amazon Web Services (AWS) cloud.
Mexico seismic services company COMESA incorporated the full Paradigm software suite for seismic processing & imaging, interpretation & modeling, and reservoir characterization, including GeoDepth®, SeisEarth® and Geolog®. The transaction, part of continued Paradigm growth in Latin America, sets the stage for future collaboration with companies like COMESA that are rapidly expanding their exploration and production operations in the region. COMESA will incorporate the software into its service offerings for clients in Mexico and its expansion into other Latin America countries, including Bolivia, Colombia and Peru, as well as the South Texas Eagle Ford Shale.
COMESA also selected Paradigm as a Strategic Partner for its new Seismic Data Processing Center. Through the use of Paradigm software solutions for seismic processing and imaging, subsurface modeling and reservoir characterization, COMESA can address the diverse geophysical and geologic (G&G) subsurface challenges in its clients’ exploration programs.
Todd Energy, a leading energy provider in New Zealand, acquired a comprehensive suite of Paradigm seismic interpretation, formation evaluation and reservoir modeling software solutions. A major factor in Todd Energy’s decision to adopt the Paradigm solution suite was integration on the Epos® infrastructure.
SCDM Energie adopted Paradigm SeisEarth® as part of its corporate standard for comprehensive seismic interpretationand visualization. The multi-survey solution allows interpreters to perform structural and stratigraphic interpretation across many different vintages of 2D and 3D seismic data, while integrating well data into their interpretation.
Paradigm has extended our technical leadership in each of our business domains. These include areas where we are acknowledged leaders, such as Formation Evaluation or Processing & Imaging, as well as those where our advanced technologies compete with larger incumbents in the marketplace, such as Interpretation, Modeling and Drilling. Our major product advances this year have helped us continue to improve our market position, including:
- Paradigm 14: Over 700 new features and enhancements covering the entire upstream workflow – from processing and imaging to interpretation and modeling, reservoir characterization, reservoir engineering and drilling, and data management. The focus of the Paradigm 14 release, in addition to providing advanced science to everyone from the casual user to the expert, is its support for an integrated HD workflow, including seismic processing, QSI, and advances toward HD subsurface modeling.
The Geolog® formation evaluation and petrophysics analysis solution suite, with a plug-in enabling direct data transfer from Geolog to Petrel seismic to simulation software, as well as new modules for pore pressure prediction and shale gas analysis.
Sysdrill® 10, a major upgrade of the company’s integrated suite of well planning and drilling engineering applications, including a new jar placement module based on technology acquired from Cougar Drilling Solutions, and integrationwith Peloton’s WellView®/Masterview® corporate database for drilling and well operations.
We have continued to build Paradigm industry visibility through a strong presence at regional, national and international industry conferences, including 2014 AAPG, EAGE, URTeC and SEG, among others. Paradigm representatives at these conferences demonstrated our technology, ran workshops, and presented professional papers and posters. We also continued our popular Virtual Lecture Series for the third year, in which Paradigm experts delivered on-line presentations to registered viewers. In addition, we introduced a VIP Consultant Program, providing individual consultants worldwide with access to Paradigm software and training.