Seismic Micro-Technology (SMT) will preview its newest software enhancement, KINGDOM EarthPAK Advanced, at the annual American Association of Petroleum Geologists (AAPG) Annual Convention in New Orleans. The release introduces the next generation of geology, integrating leading edge science across the entire exploration and production workflow to improve productivity. EarthPAK is the latest addition to the KINGDOM Advanced family, introduced last year with its patent pending horizon tracking technology. This enhancement adds to the long line of innovations that has helped SMT become the leader for geoscience software. With KINGDOM Advanced, geoscientists, engineers, and managers can all work together in the same software.
"As oil and gas fields mature and new plays become more complex in nature, field evaluation has become increasingly collaborative," said Stan Abele, Vice President of Product Management, SMT. "To conduct full field analysis and development, asset teams incorporate geologic, geophysical, production, and economic information. Our goal is to integrate the workflow so companies can make decisions faster."
The new reserves and economic evaluation functionality includes advanced volumetrics to better estimate uncertainty and sensitivity in identifying in-place reserves. Monte Carlo simulation allows for simultaneous evaluation of multiple reservoirs to analyze the range and probability of potential 1P, 2P and 3P estimates. The multi-segment decline curve analysis capability supports more accurate forecasting of recoverable reserves. Companies can create field development plans, analyze incremental effects of a workover or infill drilling, and model production entity-based analysis with a click of a button.
Finally, economic evaluation can be used to identify and perform sophisticated analytics linking production forecasts to economic scenarios. The flexible economic case generation helps in estimating and ranking prospects based on the commercial value and return.
Matt Gentry, COO of Antares Energy, said, "This newly integrated functionality improves upon an already great product."
A preview of KINGDOM, including the capabilities described above, will be shown in theatres and demos at SMT’s AAPG booth #517. The general availability of the release will be early summer 2010.