WellBid introduces DrillTeam online project

Jul 19, 2000 02:00 AM

WellBid announced the introduction of DrillTeam, its online project management tool that allows oil and gas company engineering teams to jointly specify requirements for well drilling, completion and workover operations.
"In any large oil and gas company, there are experts who know more about certain complex services than others," said Jim Hine, WellBid's chief marketing officer. "These experts generally form teams to maximise their knowledge when working on a new project. With DrillTeam, these teams can collaborate and provide their expertise for the specification of certain services online, even if they work half a continent away.
"DrillTeam provides online collaboration that allows service companies to differentiate their services beyond price alone. This new capability is another major step in our plans to continue adding more value to service companies using WellBid. These kinds of feature leaps, added to our base product line that has been available since October, make WellBid the most sophisticated and feature-rich product of its kind available today."

DrillTeam, which is now available as part of the WellBid service, allows different levels of information sharing among users, so that the owner of any single- or multi-well project retains full control over what information can be changed. At the same time, the owner of a project can use DrillTeam to delegate work to other specialists on a team, to associates in other areas of the company, or to out-of-house experts.
"Our goal with DrillTeam is to provide better communication and project management tools for oil and gas companies working on major technology challenges or complex projects requiring co-ordination both within and outside the company," said Robert Bodnar, WellBid's chief technology officer. "We've been asked for this feature by a number of the larger oil companies, because they involve so many different people in their projects. With DrillTeam, those people can communicate complex information freely and effectively, to speed up the design and procurement workflow.

WellBid provides application services and software infrastructure to streamline workflow in the specification and purchase of well-related services and equipment in the upstream oil and gas industry. Using WellBid, a producer saves time and money specifying the detailed engineering, geographical and scheduling requirements to drill, complete and operate a well.
These requirements are sent through WellBid as requests for proposals to the producer's selected vendors. The two parties collaborate online to refine and negotiate the producer's requirements until a transaction is closed through WellBid's service.
WellBid is headquartered in Denver, with sales offices in Houston, Austin, Calgary, Grand Rapids, Midland and New Orleans. Additional offices are planned for North America and internationally.

Source: Business Wire via Newspage
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