Palantir-Fekete Software Alliance Puts a Price on O&G Reserves
Palantir Solutions has announced an alliance with Fekete Associates Inc., which provides reservoir engineering software and services to producing companies worldwide.
Fekete's F.A.S.T. Harmony™ is the link between the technical analysis and a Palantir Solutions planning tool (PalantirCASH). The production forecasts flow directly into Palantir's cashflow and portfolio models to create a seamless link between technical analysis, economic, financial and portfolio planning. The result is an integrated planning system that is efficient, responsive and dynamic. Changes in the technical or commercial environment can be modeled and updated on the fly as new business opportunities arise.
PalantirCASH is an economic evaluation system on which accurate and reliable economic analysis can be performed in a secure and standardized manner. It allows planning teams and asset managers to access rapid economic valuations of global portfolios to enhance decision making processes.
F.A.S.T. Harmony™ is the core component to Fekete's reserves evaluation and production analysis software toolkit. It brings together all of the accepted methods of evaluating reserves and forecasting production plus advanced methods for unconventional reservoirs.
Jason Ambrose, CEO and co-founder, Palantir Solutions commented, "The synergy of integrating Fekete's reservoir management and Palantir Solution's economic planning brings a nose to tail production data analysis and reserves evaluation toolkit. Oil and gas companies with access to this rapid and accurate analysis will be at a natural competitive advantage."
Kevin Dunn, VP, Software Business Development, Fekete added, "Fekete and Palantir Solutions are working with many progressive producers who want the efficiency and reliability that this solution will provide. The first implementations of these tools will give early adopters a competitive edge in the market."