Decision Dynamics Announces Enterprise Solution Contract
Decision Dynamics Technology Ltd. said that its Wellcore Enterprise 4.3 Software Solution is being implemented by a U.S.-based oil and gas company. The deployment is expected to generate $850,000 for Decision Dynamics over the life of the contract.
The customer will use Wellcore's Operations Visibility Suite to manage their operations information across the well lifecycle, from prospect to abandonment. It expects to benefit from superior response times, improved capital spending management, and reduced administration costs. In addition, the client will be making use of several of the Wellcore Operations Accelerator suite modules including Routing and Notification, Authorization for Expenditure (AFE), Regulatory and Compliance, and Rig Scheduling. These modules provide improved well planning and scheduling efficiency resulting in measurable workflow improvements and cost reductions.
Wellcore delivers near-real-time data capture from the field, improves capital spending management and streamlines daily operations, cost and progress reporting. Wellcore's modules span the exploration and production process from Opportunity Inventory, through Geology, Land, and Construction, to Drilling and Completion. Also included are the associated cross-business processes such as AFE & Cost Control, Project Planning, Budget Planning, Routing for Approval, Rig Scheduling, and Regulatory Filing and Management. In addition, Wellcore manages post production activities such as Reclamation and Abandonment, Facilities, and Pipeline Networks. Configurable to the client's needs, all modules are able to operate separately as stand-alone applications or as an integrated part of the client's existing geological/geophysical, drilling and completions, reserves and financial accounting applications to ensure data integrity across the organization.
"By incorporating Decision Dynamics' tools into their everyday workflow, our clients obtain accurate, real-time, auditable views into their business operations." said Justin Zinke, CEO and President, "This enhanced operational and performance visibility provides improved decision making and accelerated response to problems or opportunities, all of which drive increased profitability."
Decision Dynamics Technology Ltd. provides data collection, operations reporting, business analytics, decision optimization and workflow integration software solutions to the energy sector, including major oil and gas and electrical power companies.
- Decision Dynamics Announces Enterprise Solution Contract (Jun 20)
- Decision Dynamics Opens Denver Office (Oct 16)