IHS Markit, Baker Hughes and CMG Form Technology Alliance to Benefit Exploration and Production Firms
Business information provider IHS
Markit (Nasdaq: INFO), today announced a technology alliance with Baker
Hughes Incorporated (NYSE: BSI) and software
company CMG (TSX: CMG) aimed at delivering a new level of geoscience
analytics and engineering solutions to exploration and production (E&P)
customers.
The partnership will give E&Ps a new choice for their integrated
workflows by leveraging industry-leading software for geological
characterization, reservoir modeling, production data analysis and
reservoir flow simulation.
An immediate benefit to customers is the development of collaborative
geoscience, reservoir modeling and simulation workflows that use IHS
Markit Kingdom®, Baker Hughes JewelSuite™ reservoir modeling software,
and CMG’s suite of simulation software. The goal: to deliver new levels
of insight and efficiency for integrated geoscience analytics.
“In these times of unprecedented change and uncertainty in the oil and
gas industry, our customers want options – not inflexible, closed
systems -- to respond to these challenges,” said Russell Roundtree, vice
president – geoscience and engineering for IHS Markit. “By integrating
technology, driving workflow improvements and augmenting collaboration
across vendors, we will expand our clients’ ability to be agile in the
face of the industry’s rapid changes.”
Said Martin Brudy, vice president – technical software at Baker Hughes:
“In this current economic climate, our customers are asking for products
tailored to their needs, with best-in-class technology. The alliance of
IHS Markit, Baker Hughes and CMG enables optimal connectivity and
provides the industry with adaptable, scalable and extensive solutions.”
“CMG remains focused on delivering efficient workflows, innovative
technology and support thereof to our customers,” said Ryan Schneider,
chief operating officer for Computer Modelling Group Ltd. “By linking
our dynamic reservoir modelling capabilities to geosciences and static
modelling, we are improving our customers’ end-to-end asset workflows to
better optimize their upside value and manage their downside risk.”
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information,
analytics and solutions for the major industries and markets that drive
economies worldwide. The company delivers next-generation information,
analytics and solutions to customers in business, finance and
government, improving their operational efficiency and providing deep
insights that lead to well-informed, confident decisions. IHS Markit has
more than 50,000 key business and government customers, including 85
percent of the Fortune Global 500 and the world’s leading financial
institutions. Headquartered in London, IHS Markit is committed to
sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. All other
company and product names may be trademarks of their respective owners ©
2017 IHS Markit Ltd. All rights reserved.
About Baker Hughes (www.bakerhughes.com)
Baker Hughes is a leading supplier of oilfield services, products,
technology and systems to the worldwide oil and gas industry. The
company’s 32,000 employees today work in more than 80 countries helping
customers find, evaluate, drill, produce transport and process
hydrocarbon resources.
About CMG: Computer Modelling Group (www.cmgl.ca)
CMG is a computer software technology company serving the oil and gas
industry. The company is a leading supplier of advanced process
reservoir modelling software with a blue chip customer base of
international oil companies and technology centers in approximately 60
countries. CMG also provides professional services consisting of highly
specialized support, consulting, training and contract research
activities. CMG has sales and technical support services based in
Calgary, Houston, London, Dubai, Bogota and Kuala Lumpur.
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