Decision Dynamics Awarded $850,000 Contract for Wellcore Enterprise Solution
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U.S. E&P Company Implements Wellcore Enterprise 4.3 to Improve Resource
Management and Streamline Cross Departmental Operations
CALGARY, June 19 /- Decision Dynamics Technology Ltd. (TSX-V:DDY)
announced today that its Wellcore Enterprise 4.3 Software Solution is being
implemented by a U.S.-based Oil and Gas company. The deployment is expected to
generate $850,000 for Decision Dynamics over the life of the contract. The
Company will use Wellcore's Operations Visibility Suite to manage their
operations information across the well lifecycle, from prospect to
abandonment. They expect to benefit from superior response times, improved
capital spending management, and reduced administration costs. In addition,
the client will be making use of several of the Wellcore Operations
Accelerator suite modules including Routing and Notification, Authorization
for Expenditure (AFE), Regulatory and Compliance, and Rig Scheduling. These
modules provide improved well planning and scheduling efficiency resulting in
measurable workflow improvements and cost reductions.
Wellcore delivers near-real-time data capture from the field, improves
capital spending management and streamlines daily operations, cost and
progress reporting. Wellcore's modules span the exploration and production
process from Opportunity Inventory, through Geology, Land, and Construction,
to Drilling and Completion. Also included are the associated cross-business
processes such as AFE & Cost Control, Project Planning, Budget Planning,
Routing for Approval, Rig Scheduling, and Regulatory Filing and Management. In
addition, Wellcore manages post production activities such as Reclamation and
Abandonment, Facilities, and Pipeline Networks. Configurable to the client's
needs, all modules are able to operate separately as stand-alone applications
or as an integrated part of the client's existing geological/geophysical,
drilling and completions, reserves and financial accounting applications to
ensure data integrity across the organization.
"By incorporating Decision Dynamics' tools into their everyday workflow,
our clients obtain accurate, real-time, auditable views into their business
operations." says Justin Zinke, CEO and President, "This enhanced operational
and performance visibility provides improved decision making and accelerated
response to problems or opportunities, all of which drive increased
profitability."
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 lifecycle 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 www.ddytech.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information: Jordanna Fraser-Marinoske, Marketing Manager, (403)
451-0747, jordanna.fraser-marinoske@ddytech.com
