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LANDMARK ANNOUNCES DECISIONSPACE DMS
-Decision-management software to manage risk and improve cycle-time-
HOUSTON, Texas - Landmark Graphics Corporation, a wholly owned business unit of Halliburton (NYSE:HAL), announced today the release of DecisionSpace DMS™, advanced software designed to support asset teams integrating risk factors in the context of business objectives. Using the DMS approach should significantly reduce the cycle-time for field development decision-making process around large prospects, leading to improved asset performance with a better understanding of the risks involved. To optimize the field development decision process, DMS simulates and manages numerous production and financial outcomes from multiple reservoir models, drill plans, facilities plans and economic scenarios.
“DecisionSpace DMS will provide our customers with decision management and scenario analysis tools integrated with multi-discipline workflows across the E&P value chain,” said Andy Lane, president and CEO, Landmark Graphics. “Cross-discipline asset teams will use DMS to optimize field development planning for large and capital intensive projects.”
DMS allows cross-discipline asset teams to quickly analyze geotechnical uncertainties and risks, while evaluating the economic value of numerous field development alternatives. Reservoir engineers can perform flow simulation or material balance modeling to determine how alternative decisions can impact the overall production of an asset. DMS is an open, extensible solution that comprehends the wide range of situations that are encountered in an E&P asset evaluation.
“BP is collaborating with Landmark in the design and the testing of DecisionSpace because we need a tool to speed and improve our reservoir management decision making by our understanding of the risks and uncertainties of developments in more and more challenging areas,” said Mike Smith, Head of Reservoir Management in BP.
Landmark is the leading supplier of software and services for the upstream oil and gas industry. The company’s software solutions span exploration, production, drilling, business decision analysis and data management. Landmark offers a broad range of consulting services that enable customers to optimize their technical, business, and decision processes. Visit the Landmark Web site at www.lgc.com for more information.
Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company’s World Wide Web site can be accessed at www.halliburton.com.
Landmark, the Landmark logo, DMS and DecisionSpace are trademarks or registered trademarks of Landmark Graphics Corp.
Contact
Beverly Scippa
beverly.scippa@halliburton.com
Halliburton Public Relations
(p) 281.875.0411
Employment Contact
jobs@halliburton.com
(p) 800.888.7668
ext. 8005
Supplier/Procurement Contact
kbr_supplier_relations@halliburton.com
Supplier Diversity Contact
Erin Petkovich
supplier_diversity@halliburton.com
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