EMERSON TO BUY SOFTWARE FIRM PARADIGM

Emerson has agreed to acquire Paradigm, a leading provider of software solutions for the oil and gas industry, for a purchase price of $510 million. Paradigm, joined with Emerson’s existing Roxar software business, creates a best-in-class, end-to-end Exploration & Production (E&P) software portfolio with offerings spanning seismic processing and interpretation to production modeling. Paradigm’s technology offerings will enable Emerson to better help oil and gas operators increase efficiency, reduce costs and improve return on investment. Expanding Emerson’s E&P software and solutions enables the company to help operators achieve Top Quartile Performance on investment and operational goals within new and established reservoirs. Interpreting data and generating high-fidelity representations of existing brownfield assets allows oil and gas companies to maximize production and avoid non-productive drilling and exploration spending. In addition, Emerson’s expanded services now enable oil and gas operators, through machine learning and cloud computing, to make decisions in the field leading to more efficient operations. Paradigm headquartered in Houston is one of the largest independent developer of software-enabled solutions to the global oil and gas industry and has more than 500 employees globally. The company provides an array of tools that enable customers to gain deeper insight into the subsurface, reduce uncertainty and support responsible asset management. “When combined with Emerson’s Roxar Software Solutions portfolio, Paradigm expands the global upstream oil and gas capability of our Plantweb digital ecosystem, creating a more comprehensive digital portfolio for our customers from exploration to production,” said Mike Train, Executive President of Emerson Automation Solutions. “Our offering can now help customers better maximize the value of their existing investments and reach Top Quartile Performance.” Emerson, headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. (Source and image: Paradigm)  

SINGAPORE TO INCREASE THE JURONG LNG TERMINAL CAPACITY

November 05, 2012

Singapore industry minister S. Iswaran said that the country will build another storage tank for liquefied natural gas (LNG) at its future terminal in...

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CANADA: ALL STARTED AT OIL SPRINGS

November 05, 2012

Some reports mention the presence of bituminous sands at confluence of Athabasca and Clearwater Rivers. Around 1846, Dr. Gesner of Nova Scotia developed...

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PETRONAS & LUNDIN FIND OIL OFF PENINSULA MALAYSIA

November 04, 2012

Petronas and Lundin Oil have jointly discovered additional oil fields, under a production sharing contract, at Block PM 307 of the Bertam oil field. The...

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EXPLORATION DRILLING WILL CONTINUE OFFSHORE CUBA

November 03, 2012

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OB RIVER: THE FIRST LNG TANKER ON THE NORTHEN SEA ROUTE

November 03, 2012

On October 27th, the LNG tanker Ob River arrived at the Montoir-de-Bretagne LNG terminal operated by Elengy, a GDF SUEZ subsidiary. The vessel, coming...

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PETROBRAS: GAS DISCOVERY IN PERU

November 03, 2012

Pretrobras hit gas in the Madre  de Dios Basin, Peru. The 3 wells Urubamba, Picha and Traini drilled om the lease 58 encountered gas. Total recoverable...

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MURPHY FINDS OIL IN THE GULF OF MEXICO

November 03, 2012

Murphy oil from El Dorado, Arkansas, encountered oil at its exploratory well DC 134-1 in Dalmatian South. The field is located in the deep waters of the...

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NOVATEK ON TRACK AT THE YURKHAROVSKOE

November 02, 2012

Novatek, the second-largest natural gas producer in Russia announced the launch of the fourth stage of Phase Two development at the Company’s Yurkharovskoye...

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SHELL ENDS ARCTIC DRILLING CAMPAIGN OFF ALSAKA

November 02, 2012

Royal Dutch Shell announced that it concluded exploratory drilling, its mandatory cutoff date before winter. It completed preliminary drilling at one well...

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PAD DRILLING IN THE EAGLE FORD

November 01, 2012

The US oil and gas company Forest Oil introduces multi well pad drilling with one of its rigs in the Eagle Ford. Forest Oil plans to drill a four well...

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STATOIL: GOOD BYE GLITNE

November 01, 2012

Norwegian oil and gas major Statoil announced it will close the Glitne field in the North Sea after its lifetime has been extended several times and said...

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FALKLANDS: NEW FRONTIER FOR NOBLE ENERGY

October 30, 2012

Houston based Noble Energy acquired a 30% interest in the Falkland Northern area licenses in August 2012.  The license position consists of 40,000...

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