Petris Acquires Software Product Suite from Production Access

Petris Technology has acquired the software and support assets of Production Access, Inc. Under the terms of the agreement, Petris will assume worldwide responsibility for the development, sales, service, and future development of the Production Access software, including the flagship Operations Center, an integrated platform for the complete management of operational data for drilling, wellwork and production operations. To this end most of the PA employees will be joining Petris effective July 1, 2007.

Operations Center streamlines the acquisition and management of drilling and production operations information and incorporates it with company financials to improve business decisions throughout the enterprise.

Increasing energy prices and regulatory requirements continue to focus the industry on improved production operations and management of operational information. With the acquisition of Operations Center, Petris will now offer solutions that address these important issues. With the PA suite, Petris strengthens its application and data management footprint, which now includes geoscience, drilling, production and pipelines.

"With the positive outlook in the energy business and the natural synergies between the PA software and PetrisWINDS DrillNET, we see a great future for this combination," notes Jim Pritchett, Petris CEO. "Further, our integration technology platform, PetrisWINDS Enterprise, will help take the software to the next level of interoperability, performance and ease-of-use."

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