London, United Kingdom, 30th Aug 2011 – Exprodat’s Exploration Analyst, software for evaluating, ranking and screening petroleum leases, opportunities and risks was released today for ArcGIS 10. The new version of Exploration Analyst delivers geospatial analytic tools, traditionally the preserve of the GIS specialist, into the hands of the geoscientist.
Exprodat’s Technical Director, Chris Jepps, says, “Exploration Analyst is a unique product that enables geoscientists to automate complex lease or block ranking processes. Companies that use the tool ahead of license rounds like the upcoming BOEMRE Gulf Lease Sale 218 find that it can help them find valuable extra time for working up leads later in the round ‘window’ by dramatically cutting the time spent on their initial screening processes. Secondly, it allows them to make significantly improved decisions by using easily repeatable data-driven analysis. Finally, it allows managers to validate the decisions they make during lease sale applications.
Exploration Analyst was designed so that geoscientists in oil and gas companies could leverage the analytical power of ArcGIS. You don’t need to be a GIS specialist or understand niche GIS terminology in order to use it. We’re delighted that the product is now available to all geoscientists working on the ArcGIS 10 platform.”
Exploration Analyst is an ArcMap extension for use with conventional and unconventional resource opportunities. The user can evaluate these resources based on the spatial relationships of multi-disciplinary asset data (e.g. geology, environment, economic, infrastructure). It enables geoscientists to define scoring and weighting criteria in order to rank opportunities, perform company analyses and develop portfolio investment strategy.
Using the software companies can streamline the complex process of ranking oil acreage based on multiple factors, gain more time to work on focus areas by rapidly completing first pass acreage screenings, make better decisions faster through quantitative analysis and implement consistent auditable exploration processes across their assets.
Exprodat’s software helps oil and gas teams harness the power of Esri’s ArcGIS platform, by providing ‘out-of-the-box’ functionality designed specifically for the needs of the petroleum sector. The software is data independent and allows oil and gas companies to integrate vendor data with their own in-house datasets for use in GIS-based spatial analysis in order to make better decisions faster, while managing risk and reducing technical uncertainty.