FOR IMMEDIATE RELEASE
Aclaro Softworks and Charlotte Software Systems Announce Partnership to Provide Optimization Solutions to the Oil and Gas Industry
October 2009 (CALGARY) – Aclaro Softworks, Inc. (“aclaro”), and Charlotte Software Systems, LLC (“Charlotte Software”) today announced a partnership to provide optimization applications that will improve how oil and gas companies allocate capital and schedule projects.
The integration of Charlotte Software’s optimization technology into aclaro’s petroLook Forecast application will create a decision support platform for companies to manage their asset portfolio, create optimal operating and capital budgets, schedule projects, and monitor the performance of capital programs in near real-time.
Continued lower commodity prices combined with the high cost of oil field services has driven E&P companies to seek ways to become more efficient with their spending. Changing conditions require companies to revisit and revise their capital program and operating budget frequently over the course of the year. Many companies also have reduced staffing levels, leaving fewer resources available to conduct analysis required to create, manage, and revise their budgets. Software applications that reduce the manual effort involved in these processes allow companies to more efficiently manage their spending without taxing their resources, and optimization technology enables improved decision-making work flows that can increase overall capital efficiency.
The petroLook Forecast application from aclaro provides a platform for integrating, analyzing, and reporting technical and financial data, while providing a secure and flexible work space for capturing additional information and calculations not currently available in the company’s information infrastructure. The petroLook actual-versus-forecast monitoring highlights both successes and problems in near real-time, allowing the company to take quick corrective action.
By integrating Charlotte Software’s optimization technology into petroLook Forecast, users can gain further insight into how individual projects contribute to the overall success of the organization’s capital program, ensuring that the correct projects are included or excluded. After planning the capital program, schedule optimization will ensure that projects are executed in an order that maximizes overall return while respecting business, operational, and regulatory constraints.
‘We’re very excited to be working with the Charlotte Software Systems team,” said Christoph Faig, CEO of aclaro. “We’ve been interested in extending the petroLook suite to include optimization in response to interest expressed by our clients, but until now we have not been able to find the right partner to do so. The principals of Charlotte Software are recognized as leaders in the optimization software field, and with their technology and expertise we are confident that we will be able to provide an industry-changing solution.”
“Aclaro’s leadership position in the upstream oil and gas industry, combined with their petroLook platform, made aclaro a natural partner for us,” said Kevin Kostiuk, CEO of Charlotte Software Systems. “Capital portfolio and drilling program optimization are sweet spots for our technology and great places to leverage our optimization platform. We are very pleased to partner with aclaro to bring this new solution to the energy market.”
About aclaro softworks, inc.
Aclaro provides enterprise business software for reserves reporting, planning, budgeting, capital and asset management, performance monitoring, and financial reporting - all part of their industry-leading petroLookTM system.
Aclaro is headquartered in Calgary with subsidiaries in Houston and Aberdeen, and has oil and gas clients in the United States, Canada, Europe, and Africa, ranging in size from small independent to super-major.
For more information, visit www.aclaro.com
About Charlotte Software Systems, LLC
Charlotte Software Systems specializes in cutting-edge optimization software to support enhanced tactical and strategic planning for the energy industry. Charlotte Software System’s technology can help end users, service providers, and independent software vendors to optimize a large number of complex business processes from large scale resource scheduling to strategic asset allocation.
Charlotte Software Systems is headquartered in Charlotte, NC.
For more information, visit www.charlottesoftwaresystems.com
For additional information, contact:
Phone: +1.713.781.2000 ext. 301