Package Processing Opens OpportunityWed, 01/18/2017 - 14:57
Q: What opportunities exist for the seismic data made available in the National Hydrocarbon Information Center and the data rooms for the licensing rounds?
A: Even though Paradigm is not a direct client of CNH data, from what we have heard and observed, we believe improvements can be made to the system to enhance its effectiveness and usefulness. We have experienced difficulty in uploading data when our clients provide us access to it for reprocessing. In some cases the well data is incomplete, requiring the recipient to perform extensive Quality Control (QC) and rectification procedures. It would be best if it were done once by CNH to avoid having the receiving company perform QC. Data currency is another issue because most of the data available is not of recent vintage, and recent vintage data is often exclusive. There is plenty of room for improving the packaging, to make the process more efficient.
The present packaging of the data presents an opportunity for companies like Paradigm, which has been present during market liberalizations in Brazil and Colombia. If the data is not packaged correctly from the beginning, companies will not have enough time to explore and analyze it before making decisions. This causes delays and wastes valuable time. If CNH were to employ better technology, it could make the process more efficient.
Q: Which specific product would best fit CNH’s needs?
A: Two product offerings from Paradigm fit CNH’s needs. The first, Paradigm Epos®, is a multi-user data management infrastructure for storing and accessing all types of interpretation data and well data. This solution can address the packaging issue. Additionally, the solution includes easy-to-use data connectors to Schlumberger and Halliburton data stores.
The second offering is Paradigm’s leading seismic data processing and imaging solution for multi-component seismic acquisitions and rich-azimuth seismic acquisitions. Multicomponent seismic acquisitions record both compressional and converted wave shear components. The latter can contribute to a better understanding of the presence and orientations of reservoir fractures. Rich azimuth acquisitions are highly suitable for Paradigm’s patented, award-winning EarthStudy 360® technology, which recovers information related to low-energy faults, natural fractures and stresses that are not easily or accurately covered by traditional methods. Both methods fit naturally with the imaging and characterization of fractured reservoirs.
Q: Which of the Round One licensing rounds offers the most significant opportunities for Paradigm?
A: We started by selling software to companies that have one year of evaluation to determine if they stay or not. We are now leasing our solutions for shorter periods of time so that companies can spend less on analysis, with no obligation to purchase the product if they decide not to stay. We also provide software to consulting companies that study the fields prior to the rounds. Some of the companies in the third leg of Round One, such as investment, manufacturing and services firms, lack knowledge about reservoir data. Finally, we reprocess legacy data for some companies. R01-L04 is more focused on international companies such as Chevron and Repsol, which are already our clients, that conduct their pre-round studies at their headquarters outside Mexico.
Q: How has Paradigm positioned itself to benefit from the Energy Reform?
A: Technology can drive the change needed in the Mexican oil and gas market, especially in helping PEMEX streamline its decision-making process and seizing the opportunities that new fields and discoveries will provide. PEMEX can become a more technology-oriented company. Paradigm is suited to enable this because of our focus on using advanced science and software technology to solve challenging subsurface problems. Ten percent of our workforce has PhDs and over a third of the company belongs to our research and development group.