SLB and Quorum Software introduced a joint digital planning solution to automatically evaluate project economics and halve the time needed for field development planning, according to a June 29 press release. (Source: Shutterstock.com)
SLB and Quorum Software introduced a joint digital planning solution to automatically evaluate project economics and halve the time needed for field development planning, according to a June 29 press release.
SLB and Quorum said the new field development planning solution, which leverages Quorum’s Planning Space business planning and petroleum economics offering within the FDPlan agile field development planning solution from SLB, is now commercially available. In June 2022, the companies announced an agreement to integrate their solutions within the cloud-based Delfi digital platform.
“With subsurface and petroleum economics connected, customers can quickly assess their global asset portfolio to prioritize their development projects, lowering costs, maximizing returns and significantly reducing time to value through streamlined field development planning processes,” said SLB’s Trygve Randen, senior vice president of digital products and solutions.
The solution brings petroleum economics data into the earliest stage of asset evaluation and incorporates corporate standard fiscal regimes, prices and currencies, the companies said. The solution unites subsurface data, domain workflows and corporate decision-making to increase collaboration between development geoscientists, engineers and petroleum economics teams for faster and better-informed decisions.
Tyson Greer, chief products officer at Quorum, said the integrated solution will enhance performance and profitability for energy companies “with seamless connectivity between petrotechnical data and business planning.”
Recommended Reading
BWX Technologies CFO, Executive VP to Step Down
2025-05-13 - BWX Technologies’ Robb A. LeMasters has stepped down from his roles as executive vice president and CFO. The company named Mike T. Fitzgerald as interim CFO.
Money Talks: BOK Financial on Bid-Ask Spread Challenges to M&A
2025-05-08 - Commodity price volatility is making it difficult to close the bid-ask spread between buyers and sellers, BOK Financial’s Cristina Stellar tells Hart Energy.
ConocoPhillips CFO Bill Bullock to Retire After Nearly Four Decades
2025-05-08 - ConocoPhillips’ W.L. (Bill) Bullock is retiring from his roles as executive vice president and CFO after 39 years of service. Andy O’Brien will assume the role of CFO.
Ex-Parsley Team Re-Ups with Greenlake Energy II, Delaware Deal
2025-05-06 - NGP’s initial investment in Greenlake Energy II, headed by former Parsley Energy executives, includes closing an initial acquisition in the Delaware Basin.
IOG Resources Forms Third Vehicle Focused on Non-Op M&A
2025-05-06 - IOG Resources III Holdings LLC, again backed by First Reserve, has an investment target ranging from approximately $50 million to $200 million.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.