WorldwideMerrick Systems Acquires RIO Software from Ocean Energy
September 2, 2002 (Houston,TX) - Merrick Systems, Inc. announced today that it has acquired the rights to own and commercialize the RIO software application from Ocean Energy. RIO is a technical data management tool designed to provide quick and accurate information about a well or completion.
RIO adds value to the exploration and production process by providing single point access to all operated and non-operated well and completion-related data, including: well header detail; production; bottomhole pressures; well tests; directional surveys; perforations; tops, contacts, reservoir parameters, and geological detail.
“The quality of data in an E&P organization improves immediately because of the broad accessibility of information,” said Kemal Farid, president of Merrick Systems, Inc. “Adding the functionality of a data management repository to our existing product suite allows our customers to utilize their data in virtually any manner they choose across their organization. The benefits of this enhanced quality and availability of data are enormous,” said Farid.
RIO was initially designed and developed by Ocean Energy's reservoir and production engineers to quickly and accurately answer most of the commonly asked questions about a well or completion. When integrated with Merrick’s ProCount, FieldCap and DynaCap applications, data can be captured at the platform or field, allocated and seamlessly fed directly into RIO.
“RIO is extremely easy to use because it is patterned after a spreadsheet interface,” said Farid. “Its flexibility in storing information makes it a useful tool for production and reservoir engineers, as well as geologists and petrophysicists. RIO also provides an environment where data from different departments is integrated and reconciled. RIO is a valuable addition to our software suite,” said Farid.
About Ocean Energy, Inc.
Ocean Energy, Inc. is an independent energy company engaged in the exploration, development, production, and acquisition of crude oil and natural gas. North American operations are focused in the shelf and deepwater areas of the Gulf of Mexico, the Rocky Mountains, Permian Basin, Arklatex, Anadarko, East Texas and the Gulf Coast regions. Internationally, Ocean holds a leading position among U.S. independents in West Africa with oil and gas activities in Equatorial Guinea, Angola and Cote d'Ivoire. The company also conducts operations in Egypt, the Russian Republic of Tatarstan, Brazil, Pakistan, and Indonesia.
About Merrick Systems, Inc.
Merrick Systems develops operational client/server software for the oil and gas industry. The company provides integrated software systems for field data capture, production accounting, plant allocations, regulatory reporting, production data management, and reservoir modeling and analysis. Merrick is headquartered in Houston with offices in Lafayette, Calgary and Vienna. The company’s website is: www.MerrickSystems.com.
