Emerson and Quantum Reservoir Impact (QRI) have teamed up on March 4 to develop and market next-generation applications for artificial intelligence (AI)-based analytics and decision-making tools customized for oil and gas E&P.
Together, the two E&P software industry leaders will help oil and gas customers embrace digital transformation technologies and harness vast amounts of data to optimize their reservoir management strategies.
The collaboration combines the power of Emerson’s global reach and the world’s largest independent E&P software portfolio with QRI’s leading industry expertise in applying augmented AI, machine learning and advanced analytics for asset and reservoir management.
“The combination of our technologies and deep E&P expertise in offshore, unconventional and mature fields results in a robust offering that can give customers a significant advantage in the marketplace,” Steve Santy, president for E&P software at Emerson, said. “Collaborating with QRI enhances our capabilities to give customers meaningful analytics to maximize production and capital efficiency and for better reserve assessment.”
As part of the ongoing collaboration, the companies will apply advanced computational technologies to help geoscientists and engineers make actionable and reliable field development decisions quickly, mitigating risks and leading to higher productivity and better performance.
Recommended Reading
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.