Integrated Suite Will Help E&P Company Manage Expanding Operations
CALGARY, Jan. 30 /CNW/ - Decision Dynamics Technology Ltd. (TSX-V:DDY)
today announced the deployment of its Wellcore Enterprise well lifecycle
management software suite by Petro Andina Resources Inc., the Canadian-based
exploration and production company that operates in Argentina's Neuquén Basin.
Petro Andina's Argentine subsidiary, Petro Andina Resources Ltd., purchased
Wellcore to help manage rising drilling volumes by providing a single
integrated application that delivers real-time visibility into operations and
costs across all drilling sites.
The E&P company is using Wellcore's geology, drilling, completions and
Authorizations for Expenditure (AFE) modules for central access to daily
drilling reports and other information, and will be utilizing the system's
Webcore reporting portal to provide executive summaries to Petro Andina
managers. The deployment also includes automated workflow that enables
information sharing across departments and routing and distribution of AFEs
through the company's internal approval chain.
Petro Andina selected the Wellcore platform because of its ability to
provide a broad suite of modules with a common interface, accommodate
customer-specific business structure and work processes, eliminate redundant
data entry and other manual tasks, and integrate with third-party databases.
Decision Dynamics' professional services team is integrating Wellcore with
Petro Andina's in-house accounting system to streamline billing and financial
"We are ramping up for a major expansion in our drilling activity, and
spreadsheets and Word documents are no longer sufficient to capture and manage
our drilling data efficiently," said Barry Larson, COO and Vice President of
Operations for Petro Andina. "Wellcore is enabling us to add rigs and
accelerate our drilling pace without having to add office or managerial staff
to handle the increase in recordkeeping, data analysis and other paperwork."
"This deployment validates our approach to managing upstream oil and gas
data by organizing data capture around the well lifecycle and enabling
seamless information flow across all phases of the process," said Justin
Zinke, Decision Dynamics' President and CEO. "For Petro Andina, as for all our
customers, this strategy provides important monitoring, analysis and decision
support tools that can increase the efficiency and profitability of drilling
Decision Dynamics' Wellcore platform provides a consistent framework to
manage and optimize drilling operations across the entire lifecycle of a
petroleum asset. Key benefits include near-real-time data capture from the
field, improved capital spending management, and streamlined administration.
Wellcore Enterprise consists of applications that span the operational
well lifecycle covering geology for operations; field construction; drilling,
completions & workovers; AFE and cost management; project planning; rig
scheduling and regulatory reporting. The individual applications are
pre-integrated to streamline data capture and simplify deployment across the
About Decision Dynamics Technology Ltd.
Decision Dynamics Technology Ltd. is a leading provider of innovative
data collection, operations reporting, business analytics, decision
optimization and workflow integration software solutions to the energy sector,
including major oil and gas and electrical power companies. Its flagship
products include Oncore, a project cost management solution that provides
real-time cost information, contract validation and approvals for operations
management and capital projects; and Wellcore, a well lifecycle management
solution that provides oil and gas companies with operations visibility. The
Company has also developed X-Core, a patent-pending, fully integrated,
end-to-end data modeling and application development system. Decision Dynamics
is a Microsoft Gold Certified Partner. The Company's head office is located in
Calgary, Alberta, Canada. It operates wholly-owned foreign subsidiaries in the
United States with offices in Houston, Texas. Decision Dynamics trades on the
TSX Venture Exchange under the symbol "DDY". For more information visit,
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or accuracy of this release.
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For further information:
For further information: Mark Amelang, Executive Vice President, (713)