Well Data Technologies Acquires CTX Cost Tracking Software

Well Data Technologies has completed a deal that sees them acquire the CTX suite of products formerly marketed by Vyla Ltd. The deal also sees Bill Marshall who has been lead developer of CTX since its inception join the fast expanding Well Data Technologies development team.

CTX is THE definitive cost tracking and analysis tool for oil & gas drilling projects. Originally developed in 1992 the product has had 14 years of success in organizations ranging from NATO to BP. The flexibility required by military application being core to its power in tracking the complex costs involved in drilling oil & gas wells.

"CTX fits perfectly into the Well Data Technologies software portfolio which is focused on performance improvement and cost reduction. CTX provides a transparency in well costs that is quite simply not handled by competing products" Commented Eddy Jacobsen, Well Data Technologies' Technical Director.

"The system has already been integrated with a number of existing products within large Oil Companies which deal with various stages in the purchasing and financial processes within these organizations and plans are underway to extend this integration to other external products together with a number of our own software products." Continued Mr. Jacobsen.

CTX can exist either inside or autonomous of an approvals workflow such as SAP and Well Data Technologies have experienced staff who have carried out major integration projects with SAP, Documentum, Maximo among other products.

Well Data Technologies' Sales Director Greg MacConnell added: "This acquisition is an exciting step in our expansion plans and initial discussions with a small number of potential new users of CTX have been exceptionally positive. All the signs are very good for an excellent first year for CTX under Well Data Technologies."

Well Data Technologies based in Houston and Aberdeen are developers of innovative technical software solutions for the oil and gas industry. The primary focus of all Well Data Technologies products is performance improvement. Well Data Technologies software and processes are currently deployed by both Operators and Drilling Contractors in every major oil producing region around the world.