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Press Release: 1-31-2012 Press Release Archive

iStore Helps Petroleum Industry Optimize Oil & Gas Production

 
New Web-based software creates unprecedented enhancement of production surveillance and optimization

HOUSTON, TX - January 31, 2012 - The Information Store (iStore) announces the launch of new Web-based software tools that improve the way companies manage oil and gas field production. PetroTrek Optimization and Production Surveillance software (PetroTrek OPS) answers the challenge to access and integrate relevant oilfield data required to operate oil and gas wells safely and profitably. PetroTrek OPS quickly connects operations and field staff with the information they need through real-time dashboards and supports workflows that improve operator efficiency and well performance. The announcement of iStore's new software line was made at the Microsoft Global Energy Forum held today in Houston.

"iStore delivers on the promise of the digital oilfield," commented Barry Irani, iStore President and CEO. "Our approach to applying information technology to the oil and gas business focuses on measurable, real-world results in the oilfield and on the bottom line," he said, "and we are helping our clients hit higher and higher production targets even in mature fields where declines were expected." "Many of our customers have already benefited from our approach and technology to achieve improved returns," Irani added. "iStore is very excited to now offer a focused, cost-effective, and rapidly deployable set of production monitoring and optimization tools with PetroTrek OPS."

PetroTrek OPS leverages iStore’s long track record of combining petrotechnical and geospatial data to create an integrated data environment, allowing companies to quickly deploy the software while utilizing existing sources of subsurface, facilities, and production data. The software then makes appropriate data available to operations staff and field personnel through Web-based charts, key performance indicators, and maps. High frequency measurements, such as pressure readings from a well, are streamed in real-time enabling monitoring of critical systems. PetroTrek OPS also responds to growing demand in the industry for workflow driven applications by guiding users through production operations activities, such as reviewing well performance or ranking maintenance opportunities. The software is currently available for the Microsoft SharePoint 2010, Microsoft .NET, and Windows Azure platforms, and it features unlimited user licensing.

"iStore helped pioneer the digital oilfield and with PetroTrek OPS we continue to support the industry as companies move toward integrated operations," added Irani. "Oil companies constantly strive to improve safety for oilfield workers, boost well performance and respond more immediately to the market - but it all ultimately depends on data and how it is used." Irani concluded, "so it really is about tapping the hidden potential of a company's vast reservoir of operations and production data, clearly communicating it to the right people and giving them the tools to quickly act on that information."

PetroTrek OPS equips oil and gas companies with core capabilities needed to rapidly build integrated operations centers and enable multi-discipline collaboration, including real-time integrated data, alarm monitoring, and well integrity management. It also extends the control room into the field through remote access on laptops, touch pads, and any Web-enabled mobile device.

"iStore's PetroTrek OPS is a great example of innovation that is helping to move the oil and gas industry forward towards safer, more profitable operations" said Dr. Ali Ferling, Worldwide Managing Director, Oil and Gas Industries at Microsoft Corp. "Oilfield business and operations are marked by unprecedented complexities and pressure to do more with less while enabling workforces in new ways. Solutions like PetroTrek OPS show what’s possible in connecting people to vital information while helping to improve operational efficiency and performance."

About iStore
iStore helps petroleum companies access exploration and production (E&P) data wherever it resides and presents it in a useful form. As a result, customers improve asset performance, reduce cycle time and maximize return on investment. iStore's Web-based PetroTrek products reach out to technical and financial data and documents wherever they reside delivering cost-effective, data-driven production surveillance & optimization, drilling, GIS, and data management solutions. Founded in 1994, the privately held companys headquarters are in Houston. For more information, visit www.istore.com.

For media inquiries
Ben Parker
The Information Store
+1 (713) 787-6798 x155

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