Chevron to use UpstreamInfo's Asset Management Solutions

UpstreamInfo announced that Chevron USA signed definitive agreements for itself and its affiliates to use UpstreamInfo's Asset Management Solutions(TM) business solution. Asset Management Solutions is a business solution designed to enable energy industry experts to better use asset information to improve upstream business performance and processes, such as in-fill drilling, licensing rounds, or re-completions. Glenn Breed, president and CEO of UpstreamInfo, said, "We're very pleased that Chevron decided to expand their use of our services and technology."
UpstreamInfo's Asset Management Solutions business solutions are designed to deliver complete and accurate access to asset information in ways that reflect how an asset team works.

Specific business activities addressed include rationalization of producing properties, acquisitions and divestitures, mergers and acquisitions, workovers, production allocation and reporting, performance reporting, gathering centre and tank farm management, in-fill drilling and re-completions, drilling, economics, reserves, joint ventures, health, safety and environment, regulatory reporting, lease sales and license rounds, rationalization of seismic data, lease/licenses, seismic and well log sales and trades, seismic and well log procurement, and seismic program planning (both onshore and offshore).
Authorized users can use these intranet-based business solutions to access asset information needed to get their work done, on demand, anytime, anywhere. Asset Management Solutions use The Information Store's PetroTrek(TM) business solutions, which have been used on an Intranet-basis by major petroleum companies for more than five years.

UpstreamInfo is an information and business solution provider for the upstream petroleum business. The company provides petroleum companies with global and transparent access to information and business solutions, on demand, anytime, anywhere. UpstreamInfo lowers costs for data owners and enables asset teams and business managers to focus on their primary business of acquiring access to mineral rights, and finding and producing oil and gas. This utility service takes advantage of the pervasive utilization of the Internet to lower overall costs in the industry. UpstreamInfo's major shareholders are Chevron, EDS, The Information Store, and Raytheon. UpstreamInfo is headquartered in Houston, TX.