Petroleum Industry Leader UpstreamInfo Launches EDS-Powered Digital Information Clearing House for Petroleum Joint Ventures

Apr 18, 2001, 01:00 ET from UpstreamInfo and Electronic Data Systems Corporation

    HOUSTON, April 18 /PRNewswire/ -- UpstreamInfo announced today the launch
 of Joint Venture Solutions(TM), a global service for storing, accessing and
 distributing petroleum joint venture information and business solutions
 anytime and anywhere, on demand.
     EDS (NYSE:   EDS) will provide IT infrastructure management and data storage
 support for the service, promoting reliability, security, and accessibility to
 critical, time-sensitive data.
     Joint venture operations are common in the petroleum industry, with an
 estimated 250,000 petroleum partnerships existing worldwide.  Joint Venture
 Solutions will provide oil and gas asset operators, working interest owners,
 and regulators with secure, anytime, anywhere access to authorized information
 on demand via a web-based browser interface.
     The business services provided by Joint Venture Solutions go well beyond
 the simple distribution of information that an operator is obligated to
 provide to working interest partners and regulatory agencies.  The viewing and
 analytical tools contained in Joint Venture Solutions enable collaboration
 between partner companies and work teams to improve decision quality and cycle
 time.  For the first time, joint venture partners will be able to share such
 information as joint interest agreements; authorizations for expenditure;
 health, safety, and environment; drilling reports; engineering; geoscience;
 economics and other information pertaining to joint operations in real time
 from virtually any point on the globe.
     "This represents a breakthrough for a global industry requiring
 information sharing spanning a variety of technical and telecommunications
 environments around the world," said Charles Ansley, president of U. S.
 operations for EDS' Information Solutions line of business.  "The current
 reporting and information sharing processes in the energy industry are ripe
 for the efficiencies of an integrated global system.  This new service will
 build on the global strength of the EDS infrastructure and the proven
 petroleum business solutions of UpstreamInfo."
     Said Glenn Breed, CEO of UpstreamInfo, "The big win for operators and
 their joint interest partners will be their ability to accelerate the
 decision-making process on well-site selection and to reduce the cost of
 reporting by as much as 60 percent across the industry.  Additional wins will
 take place as operators expand usage across a wide variety of work and
 business processes, thereby shedding infrastructure costs and eliminating the
 storage of duplicate information on internal systems, while continuing to move
 towards outsourced information storage and access."
     The reliability and security provided through the combined capabilities
 and experience of EDS and UpstreamInfo will enable such business process
 changes within the industry.
 
     About UpstreamInfo
     UpstreamInfo is an information and business solution provider for the
 upstream petroleum business.  The company provides petroleum companies with
 global and transparent access to 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 leverages the combined strengths
 of the founding companies of Chevron, EDS, The Information Store, and
 Raytheon.  EDS provides various computing services, such as global
 infrastructure, communications, deployment and support, while Raytheon
 provides high volume data management systems and The Information Store
 provides Web-based business solutions.  Chevron is an anchor tenant and
 consumer of the Joint Venture Solutions.  UpstreamInfo is headquartered in
 Houston, TX; the company's web address is www.upstreaminfo.com.
 
     About EDS
     EDS, the leading global services company, provides strategy,
 implementation and hosting for clients managing the business and technology
 complexities of the digital economy.  EDS brings together the world's best
 technologies to address critical client business imperatives.  It helps
 clients eliminate boundaries, collaborate in new ways, establish their
 customers' trust and continuously seek improvement.  EDS, with its management
 consulting subsidiary, A.T. Kearney, serves the world's leading companies and
 governments in 55 countries.  EDS reported revenues of $19.2 billion in 2000.
 The company's stock is traded on the New York Stock Exchange and the London
 Stock Exchange.  Learn more at www.eds.com.
 
     The statements in this news release that are not historical statements,
 including statements regarding the amount of new contract values, are forward-
 looking statements within the meaning of the federal securities laws.  These
 statements are subject to numerous risks and uncertainties, many of which are
 beyond EDS' control, that could cause actual results to differ materially from
 such statements.  For information concerning these risks and uncertainties,
 see EDS' most recent Form 10-Q.  EDS disclaims any intention or obligation to
 update or revise any forward-looking statements, whether as a result of new
 information, future events or otherwise.
 
      For more information:
      Marise Mikulis
      UpstreamInfo
      713-335-0444
      marise.mikulis@upstreaminfo.com
 
      Peter Rowe
      EDS
      972-797-9516
      peterc.rowe@eds.com
 
 

SOURCE UpstreamInfo and Electronic Data Systems Corporation
    HOUSTON, April 18 /PRNewswire/ -- UpstreamInfo announced today the launch
 of Joint Venture Solutions(TM), a global service for storing, accessing and
 distributing petroleum joint venture information and business solutions
 anytime and anywhere, on demand.
     EDS (NYSE:   EDS) will provide IT infrastructure management and data storage
 support for the service, promoting reliability, security, and accessibility to
 critical, time-sensitive data.
     Joint venture operations are common in the petroleum industry, with an
 estimated 250,000 petroleum partnerships existing worldwide.  Joint Venture
 Solutions will provide oil and gas asset operators, working interest owners,
 and regulators with secure, anytime, anywhere access to authorized information
 on demand via a web-based browser interface.
     The business services provided by Joint Venture Solutions go well beyond
 the simple distribution of information that an operator is obligated to
 provide to working interest partners and regulatory agencies.  The viewing and
 analytical tools contained in Joint Venture Solutions enable collaboration
 between partner companies and work teams to improve decision quality and cycle
 time.  For the first time, joint venture partners will be able to share such
 information as joint interest agreements; authorizations for expenditure;
 health, safety, and environment; drilling reports; engineering; geoscience;
 economics and other information pertaining to joint operations in real time
 from virtually any point on the globe.
     "This represents a breakthrough for a global industry requiring
 information sharing spanning a variety of technical and telecommunications
 environments around the world," said Charles Ansley, president of U. S.
 operations for EDS' Information Solutions line of business.  "The current
 reporting and information sharing processes in the energy industry are ripe
 for the efficiencies of an integrated global system.  This new service will
 build on the global strength of the EDS infrastructure and the proven
 petroleum business solutions of UpstreamInfo."
     Said Glenn Breed, CEO of UpstreamInfo, "The big win for operators and
 their joint interest partners will be their ability to accelerate the
 decision-making process on well-site selection and to reduce the cost of
 reporting by as much as 60 percent across the industry.  Additional wins will
 take place as operators expand usage across a wide variety of work and
 business processes, thereby shedding infrastructure costs and eliminating the
 storage of duplicate information on internal systems, while continuing to move
 towards outsourced information storage and access."
     The reliability and security provided through the combined capabilities
 and experience of EDS and UpstreamInfo will enable such business process
 changes within the industry.
 
     About UpstreamInfo
     UpstreamInfo is an information and business solution provider for the
 upstream petroleum business.  The company provides petroleum companies with
 global and transparent access to 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 leverages the combined strengths
 of the founding companies of Chevron, EDS, The Information Store, and
 Raytheon.  EDS provides various computing services, such as global
 infrastructure, communications, deployment and support, while Raytheon
 provides high volume data management systems and The Information Store
 provides Web-based business solutions.  Chevron is an anchor tenant and
 consumer of the Joint Venture Solutions.  UpstreamInfo is headquartered in
 Houston, TX; the company's web address is www.upstreaminfo.com.
 
     About EDS
     EDS, the leading global services company, provides strategy,
 implementation and hosting for clients managing the business and technology
 complexities of the digital economy.  EDS brings together the world's best
 technologies to address critical client business imperatives.  It helps
 clients eliminate boundaries, collaborate in new ways, establish their
 customers' trust and continuously seek improvement.  EDS, with its management
 consulting subsidiary, A.T. Kearney, serves the world's leading companies and
 governments in 55 countries.  EDS reported revenues of $19.2 billion in 2000.
 The company's stock is traded on the New York Stock Exchange and the London
 Stock Exchange.  Learn more at www.eds.com.
 
     The statements in this news release that are not historical statements,
 including statements regarding the amount of new contract values, are forward-
 looking statements within the meaning of the federal securities laws.  These
 statements are subject to numerous risks and uncertainties, many of which are
 beyond EDS' control, that could cause actual results to differ materially from
 such statements.  For information concerning these risks and uncertainties,
 see EDS' most recent Form 10-Q.  EDS disclaims any intention or obligation to
 update or revise any forward-looking statements, whether as a result of new
 information, future events or otherwise.
 
      For more information:
      Marise Mikulis
      UpstreamInfo
      713-335-0444
      marise.mikulis@upstreaminfo.com
 
      Peter Rowe
      EDS
      972-797-9516
      peterc.rowe@eds.com
 
 SOURCE  UpstreamInfo and Electronic Data Systems Corporation