COPENHAGEN, Denmark, June 6, 2012 /PRNewswire/ -- Paradigm™ (www.pdgm.com) announced today that Venari Resources LLC, a newly formed deep water exploration company focused on sub-salt oil prospects in the deep water Gulf of Mexico, has selected Paradigm as its preferred provider of oil and gas exploration and production software. After a comprehensive evaluation process, Venari Resources concluded that the Paradigm interpretation and modeling solutions were best positioned to help the company meet their present and future exploration and production goals. Venari Resources, created in December of 2011, with the backing of Warburg Pincus and other leading private equity firms, will implement Paradigm solutions mainly in the deep water Gulf of Mexico plays. The announcement was made at the 2012 European Association of Geoscientists and Engineers (EAGE) Annual Conference and Exhibition, in Copenhagen, Denmark, June 4 – 7.
"While doing our due diligence in preparation for opening the doors at Venari Resources, we conducted a thorough technical evaluation of our options in the area of subsurface technology solutions," said Brian C. Reinsborough, president and chief executive officer at Venari Resources. "In the end we selected Paradigm because it possessed the most complete and integrated technology portfolio that would optimize our exploration and production from very demanding deepwater Gulf of Mexico prospects."
"We're very pleased that Venari Resources has selected Paradigm as its primary software provider," said James Lamb, Executive Vice President at Paradigm. "Our solutions offer state-of-the-art subsurface interpretation and modeling technologies and advanced multi-disciplinary workflows, which together will give Venari Resources the competitive edge they need in their new venture."
Paradigm products are featured at EAGE 2012 in Copenhagen, booth #1550, together with the complete Paradigm 2011 product suite. For more information on Paradigm products and services, please visit www.pdgm.com, or e-mail [email protected].
Paradigm (www.pdgm.com) is an upstream oil and gas leader in digital subsurface asset management and software innovation. Its analytical and information management solutions extend across the most critical exploration and production disciplines from seismic processing and imaging, interpretation, modeling to reservoir characterization, and well planning and drilling. Serving the oil and gas, and mining industries since 1987, Paradigm operates globally through 30 client service and technology facilities located in 25 countries.
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Venari Resources (www.venariresources.com) is an exploration company focused on the deep water Gulf of Mexico, where the Company will use state-of-the-art seismic technology to explore prolific sub-salt plays. Deep water exploration expert and current CEO Brian Reinsborough formed the Company while working as an Executive-In-Residence at Warburg Pincus. The core management team was formed in 2012 and has worked extensively together since 2000. The Company will be headquartered in Dallas and have an office in Houston.
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