Emerson Electric Co.EMR unveiled an upgraded version of its integrated reservoir engineering software suite - Roxar Tempest 7.2. The new launch is a step toward an integrated, ensemble-based Big Loop solution, which can deliver better innovative uncertainty quantification and greater geological realism. It can, at the same time, quantify risks across the reservoir management lifecycle.
Tempest 7.2 is the latest commercial output under Emerson's Total Uncertainty Management Program developed with Statoil. Emerson's long-term collaboration with the University of Durham in the UK on algorithm development also contributed to the development of the software.
Tempest 7.2 is based on the history matching and uncertainty analysis module, Tempest ENABLE, and will facilitate oil and gas operators to generate precise production estimates, minimize financial risks as well as quantify uncertainty.
The software also delivers improvements to the Tempest MORE and Tempest VIEW modules. Tempest MORE users can now enjoy more stable well control, modeling threshold and breakthrough pressures, better facilities for sector modeling, and the splitting of models for quicker history matching. Also, Tempest VIEW will now be able to accomplish more flexible history matching analysis on an extensive range of results.
The Tempest 7.2 also includes new features like the 'Roxar App Connector', which enables users to set up a complex, multi-application description of their reservoir for ensemble-based workflows.
Emerson also includes a stochastic component in its proxy, to ensure a more pragmatic assessment of the basic uncertainty in the production estimates. This will help generate improved, more detailed uncertainty analysis and will also promote greater collaboration between geologists and reservoir engineers.
The software, which runs on Windows and Linux, consists of five modules, namely Tempest VIEW, Tempest ENABLE, Tempest MORE, Tempest PVTx and Tempest VENTURE, and can be applied in a broad range of scenarios such as field appraisal, brownfield development and field optimization. Users can deploy the five modules individually to enhance existing workflows or as an integrated unit with a common interface.
The upgraded software will enable integrated seismic to production workflow, while lending crucial decision support for field development and helping generate better investment returns.
Emerson's operations have been grappling with contracted demand and adverse macroeconomic factors in recent times. Sustained volatility in the oil and gas market is leading to a persistent reduction in capital and operational spending by Emerson's clients, adding to the company's woes. This Zacks Rank #3 (Hold) has a bearish outlook for the rest of fiscal 2016 and anticipates distressed oil prices to keep industry spending at low levels for most of the year ahead.
Some better-ranked stocks in the broader industrial products sector include ESCO Technologies Inc. ESE , Capstone Turbine Corp. CPST and Pioneer Power Solutions, Inc. PPSI . While ESCO Technologies sports a Zacks Rank #1 (Strong Buy), Capstone and Pioneer Power both hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
