Optimization Petroleum Technologies Releases Market Survey Results Of Independent Producer Reservoir

The study indicated that there are no comprehensive, affordable, integrated suite of software was found to span the reservoir and production disciplines across all phases of analysis.
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April 12, 2012 - PRLog -- HOUTSTON, TX, April 12, 2012 – Optimization Petroleum Technologies, Inc. (OPT) and Advertas Marketing today announce the results of a market survey of US independent producers and consultants identifying current practices and tools used for the analysis of reservoir and production engineering of oil and gas wells. Employing the Advertas’ Voice-of-the-Customer methodology, the study findings supported OPT’s go-to-market strategy to enter the U.S. market. The survey concluded that the disciplines of reservoir characterization and production analysis are complex, highly varied and supported by a disparate set of specialized software tools. No comprehensive, affordable, integrated suite of software was found to span the reservoir and production disciplines across all phases of analysis. OPT is aggressively marketing PEOffice to the US market to address market needs.

The market survey was conducted through structured oral interviews with individuals responsible for selecting software technology.  Study participants were asked a variety of structured questions, enabling the responses to be compared and analyzed.  “We believe in conducting oral interviews when conducting market entry assessments on behalf of clients”, reports Hal Green, Managing Director of Advertas. “Structured, oral interviews enable participants to more fully express themselves and share insights into current engineering and business challenges.  We consistently see that the results of our methodology reveal gaps and key business drivers of potential buyers.”  

OPT commissioned the survey to examine how well competitive software products and the company’s  PEOffice ®  suite of engineering and analysis tools met industry needs in characterizing hydrocarbon reservoirs and optimizing production using in-house data.  “The survey definitely revealed gaps in the available tools and engineering work processes,” says Jacoby Garcia, Vice President of Worldwide Sales for OPT. “As a result of the study performed by Advertas, OPT is now well positioned to address these gaps and ‘pain points’ in the application of the PEOffice suite in the US market. PEOffice provides an intuitive, integrated reservoir and production analytics solution at an affordable price for independent producers that are currently underserved by the largest E&P software providers focusing on the majors and from producers still using spreadsheets.”

Results of the study were published in the March 2011 issue of Oilfield Technology magazine, which highlighted the disciplines of reservoir characterization and production analysis. The study results also revealed the need for easier-to-use, affordable, single-vendor solutions like PEOffice that enable better collaboration across all technical disciplines, including management.

For a copy of the Voice-of-the-Customer survey results or additional information and free trial of PEOffice suite, visit www.optpt.com.

About Optimization Petroleum Technologies, Inc.

           Since 1998, Optimization Petroleum Technologies (OPT) (www.optpt.com) has been an industry leader providing integrated oil and gas reservoir and production engineering analysis software and technological solutions. OPT opened an office in Houston, Texas, USA in 2009 to expand its oil and gas focused products and services outside of its China-based home market, where OPT also offers a Chinese version of its PEOffice suite of software.

About Advertas, LLC.

           Founded in 2004, Advertas (www.AdvertasMarketing.com) provides marketing, strategy, and public relations to energy and technology companies. The Advertas team leverages a unique combination of energy domain expertise, a fundamental understanding of how our clients go-to-market, proven marketing strategies, and creative excellence. Advertas offers tailored, integrated marketing and public relations programs that focus on web-presence and promotes thought leadership of their clients.
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Location:Houston - Texas - United States
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