CoViz provides a vendor-neutral platform for 2D, 3D, and 4D covisualization, access, and interrogation of cross-discipline data. This collaborative environment enables asset teams to make better and faster decisions, with greater consensus and confidence. EarthVision is a 3D model building and visualization solution that allows end users to create and update precise 3D models for well positioning, reservoir characterization, and environmental analysis. EarthVision was lauded by the Petroleum Technology Transfer Council (PTTC) as a key contributor for improving the bottom line for independent oil and natural gas producers.

“Our integration with common databases, such as OpenWorks® and SeisWorks®, and open formats, such as SEG-Y and RESCUE, already provides a critical time-savings mechanism for geoscientists and reservoir engineers,” says Art Paradis, President of Dynamic Graphics. “The ability of OpenSpirit to reach out to a multitude of other best-of-breed applications, data stores, and GIS systems will enable us to give G&G professionals even more control over their data.”  

“The idea of open and interoperable IT tools that help multidisciplinary teams leverage the best technology from different vendors is really gaining a foothold in the industry,” says Dan Piette, President and CEO of OpenSpirit. “Dynamic Graphics’ commitment to data accuracy, improved efficiency and reduced costs is a perfect complement to our own goal of providing an integrated solution that streamlines data management workflows and allows geoscientists to focus on their true mission – finding oil and gas.”

“This is a significant step in the growth of our company,” said Dan Piette, President & CEO of OpenSpirit. “Paradigm’s investment in OpenSpirit confirms our vision for a platform-independent, standards-based data and application integration solution. The financial commitment by Paradigm, as well as our current investors, will allow OpenSpirit to continue to support G&G professionals by expanding into new domains. From a global perspective, we will quickly increase our regional technical and sales presence to better serve our clients. Additional R&D personnel will also be added to fuel this growth.”

Vendor-neutral integration solutions are critical for success in the oil and natural gas industry. For multidisciplinary teams of geoscientists and technicians, success means melding together the best available technology from multiple vendors so they can leverage the functionality they need to make better decisions. In the past, incompatible file formats and applications have slowed these teams down, but OpenSpirit is an integration hub to make applications and data stores work together, increasing productivity and maximizing a company’s IT investment.

In conjunction with this announcement, John W. Gibson, Jr., Executive Chairman and CEO of Paradigm, will be joining the OpenSpirit board alongside members from the existing investors. In addition, OpenSpirit has expanded its Board of Directors to include a seat for an independent board member to be announced in the near future.

“Energy professionals depend upon multi-vendor workflows to achieve their objectives. Paradigm’s investment in OpenSpirit demonstrates our commitment to supporting those workflows,” said John W. Gibson, Jr.

“We are pleased that another key upstream technology provider has invested in OpenSpirit, validating our vision to provide open interoperable solutions to the industry,” said Olivier Le Peuch, President of Schlumberger Information Solutions and OpenSpirit board member. “Our commitment to openness will accelerate the delivery of innovation to the industry and help address today’s complex resource and workflow challenges.”

“As an exploration and production company, we recognize the value of IT tools that enable geoscientists and engineers to leverage the best technology from different sources in an integrated way,” said board member Herbert Yuan, IT & IM Manager for Shell International EP. “OpenSpirit has a proven record of allowing end users to build workflows that combine proprietary and third-party technologies. The addition of Paradigm as an equity investor is a positive step in OpenSpirit's evolution."

Forward-Looking Statements
Some of the statements in this press release may constitute "forward-looking statements" that do not directly or exclusively relate to historical facts. These forward-looking statements reflect the parties’ intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of their control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Because actual results could differ materially from these intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this press release with caution. Neither OpenSpirit nor any of the other parties discussed in this press release undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Hydro’s multidisciplinary teams rely on a number of petrotechnical products. During Hydro’s portfolio review, applications and databases were selected that are critical to Hydro’s workflows. OpenSpirit will assist Hydro’s geoscientists and technicians in making these products work together.

The OpenSpirit framework will provide Hydro with seamless data transfer between applications and data stores, a common interface to concurrently search, select and transfer data from multiple data stores, as well as QC tools and subsurface environments. This streamlined approach will result in increased efficiency, better productivity and reduced IT and data management costs.

“We are committed to Hydro’s success and appreciate the opportunity to make a difference within their organization,” said Dan Piette, President & CEO of OpenSpirit. “This is not only an investment in our technology, but in our people and future vision, as well.”