Paradigm Extends Product Line

Paradigm has further expanded its technology footprint through the acquisition of the Petroleum WorkBench® suite of reservoir software from Baker Hughes Incorporated. The integration of this technology will lead to exciting new offerings from Paradigm, facilitating informed production optimization decisions.

Petroleum WorkBench software includes such leading brand names as the SimBest® Black Oil Simulator and Comp5® Compositional Simulator, as well as the Interpret(TM) Well Test Analysis software and WBpvt(TM) Fluid Characterization program.

Eldad Weiss, CEO of the Paradigm Group, said, "Paradigm is committed to bridging the gap between geoscience and reservoir engineering as part of our overall strategy of providing state-of-the-art solutions for the integrated digital oil field. The combination of these new capabilities with Paradigm's advanced visualization, reservoir characterization and well planning solutions will provide significant added value, both to our customers and to Petroleum WorkBench and Interpret users."

Troy Thacker, Managing Director at Fox Paine, Paradigm's principal investor, noted, "We are happy to support Paradigm in this technology acquisition, which enables the company and its management to create exciting production optimization opportunities and expand their market reach."