Here you can read and download Palantir's latest press releases.
23 November 2011 "New Blog Launched by Palantir Solutions". Read online 
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9 November 2011 "New Digital Marketing Initiative for Palantir Solutions". Read online Download pdf
1 November 2011 "Palantir Represented at the Annual Oil Council London Event". Read online Download pdf
28 October 2011 "Husky Appoint Palantir as Software and Consulting Partner". Read online Download pdf
25 October 2011 "New Website Launch for Palantir Solutions". Read online Download pdf
21 October 2011 "Palantir Solutions Attracts Talent". Read online Download pdf
14 October 2011 "Lunch and Learn: Portfolio Optimisation with PalantirPLAN". Read online Download pdf
5 October 2011 "Is the Shale Gale Blowing a Storm or Blowing Hot Air?". Read online Download pdf
23 March 2011 "UK Budget Hits Energy Sector Hard". Read online Download pdf
19 October 2010 "Palantir and OMV Petrom". Read online Download pdf
1 October 2010 "Houston Seminar". Read online Download pdf
10 August 2010 "Rob Minson Appointment". Read online Download pdf
12 May 2010 "Shale Gas Evaluation 'Open House' in Calgary". Read online Download pdf
19 April 2010 "London Seminar - Hub Economics". Read online Download pdf
15 March 2010 "Talisman employs Palantir software system". Read online Download pdf
16 February 2010 "Palantir Fekete Alliance". Read online Download pdf
For press enquiries, contact George Frost george@inkpr.com or Nick Heath nick@inkpr.com.
New Blog Launched by Palantir Solutions
Palantir Solutions have launched a new company blog that provides analysis, commentary and insight on the key events and trends in the oil and gas industry. The blog is hosted on the new Palantir Solutions website.
The blog is part of a broader initiative by Palantir to create social destinations that focus on building relationships with new and existing clients, and offer valuable insight and content to help businesses improve their business planning processes and achieve their objectives in the upstream oil and gas industry.
The blog is written and maintained by the entire sales, marketing and consulting team at Palantir Solutions, which means that articles written on the blog will cover:
- Analysis and commentary on fiscal policy changes as they happen
- Insights into new modelling techniques to be used for industry specific developments like shale gas discoveries
- Analysis of planning and economic analysis tools like Swanson’s mean and Monte Carlo simulation
The blog can be viewed and subscribed to via RSS feed and twitter share on the Palantir website:
http://www.palantirsolutions.com/About-Us/News-and-Events/Blog.aspx
Fiona Macmillan, Palantir Sales and Marketing Director, said, “Palantir is taking our thought leadership initiative online via the new Palantir blog. Key topics and trends will be explored by our expert team and interactive discussion with our growing client base will be promoted.”
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New Digital Marketing Initiative for Palantir Solutions
Palantir Solutions have developed and implemented a new digital marketing campaign that utilises social networking and peer to peer sharing sites. The campaign has been rolled out across Twitter, LinkedIn and YouTube and has seen Palantir set up branded destinations on each of these social networks.
The Palantir branded destinations focus on building relationships with new and existing clients, and offer valuable insight and content to help businesses improve their processes and achieve their objectives in the upstream oil and gas industry.
A few examples of the type of content that will be syndicated to users will be:
- A weekly industry e-paper that aggregates oil and gas news via twitter updates
- Commentary on industry news, published reports and insight pieces posted free on the company blog
- Product demos and how to videos posted on the Palantir YouTube channel
- Online networking and community engagement through a dedicated LinkedIn group called Well Well Well
- Updates to fiscal guides and fiscal regimes posted in a fiscal guides group on LinkedIn and available to download for free
The sites can be viewed and followed on:
www.twitter.com/palantir_sol
www.youtube.com/palantirsolutions
http://www.linkedin.com/groups?home=&gid=2869510&trk=anet_ug_hm
Fiona Macmillan, Palantir Sales and Marketing Director, said, “We are excited to launch our new digital marketing strategy at a time of unprecedented growth for Palantir. By using online interactive platforms, we will be able to present new ideas and promote knowledge sharing with our growing client base.”
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Palantir Represented at the Annual Oil Council London Event
The North Sea & NCS: Over the Hill or Still Gas Left in the Tank?
E&P delegates from around the world will converge in London for the Oil Council’s World Assembly on 16th and 17th November 2011.
Palantir Solutions are an official sponsor of the event and will take part in the Keynote Industry Panel that will examine:
- How risky has the North Sea and NCS become?
- How important a role will they play in tomorrow’s global energy mix?
Palantir will be represented on the panel by founder and Managing Director Jason Ambrose.
Palantir Solutions (www.palantirsolutions.com) is a leading, global provider of Integrated, Dynamic Planning Software and Services to upstream oil and gas companies.
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Husky Appoint Palantir as Software and Consulting Partner
Palantir Solutions, the largest, independent, dedicated global provider of integrated economics and planning products and services have added Husky Energy to their rapidly expanding portfolio of clients in the upstream oil and gas industry.
The three year contract started on 4th October 2011 and will see Palantir and Husky working together to build an integrated, dynamic business planning solution. From the wide range of software products and consulting services that Palantir offer Husky have appointed them to implement PalantirCASH and PalantirPLAN to create a Portfolio Management System.
The contract is significant addition to Palantir’s Canada operations and occurs at a time of unprecedented growth for the company in that region.
Jason Ambrose, President of Palantir Canada said, “This is an exciting time for Palantir. We are seeing increasing demand for our solutions. We are looking forward to working with Husky and consolidating our position as a leading provider of integrated, dynamic planning solutions.”
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New Website Launch for Palantir Solutions
Palantir Solutions have updated their company website as part of a new marketing initiative to increase awareness of the wide range of software and consulting services that Palantir develop for the upstream oil and gas industry.
The website is focussed on providing ways for new and existing clients to engage with Palantir via digital channels and learn about the industry leading software products and consulting services that Palantir offer.
Among a huge number of improvements to the site clients can now:
- Enjoy a richer, visual experience of Palantir products and services through visual workflows and video content
- View and download case studies and review existing customer testimonials
- Interact with the Palantir team by commenting on the company blog, viewing the twitter feed and watching the YouTube hosted videos
- Book places at Palantir training and networking events
- Download software demos, like PalantirPLAN
- View product demos on site
The site can be viewed on www.palantirsolutions.com.
Fiona Macmillan, Palantir Sales and Marketing Director, EMEA said, “This is a time of unprecedented growth for Palantir. The new website provides a dynamic platform for us to share knowledge and ideas with our growing client base.”
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Palantir Solutions Attracts Talent to Meet Surge in Demand for Oil & Gas Software and Consultancy
Palantir Solutions, which provides economic planning consultancy and software to the global upstream community, has made four appointments as the company continues to experience extensive growth in all regions.
Paul Douglas has joined Palantir Solutionsí Canadian team as a Senior Consultant. He is responsible for providing high quality consulting services to North American client Talisman. Douglas has extensive experience in software development, consulting and operations management. He has been involved in many successful software development projects in the Canadian oil and gas industry. It is this blend of technical and client relations skills that makes Douglas an excellent addition to Palantir Solutionsí North American consulting team.
Dana Hilliker has joined the Business Development team in Canada. Hilliker will be responsible for ensuring that Palantir Solutions continues to deliver market leading customer service to the expanding client base in Calgary. He is also tasked with identifying and securing new business in North America. Hilliker has extensive experience in client relations for Replicon where he was one of the top performers.
Anna Tregub has been appointed as a Consultant in the UK. Tregub has been recruited to assist with the growing demand for software pilots and implementations for European upstream companies. She will also provide clients with insightful data analysis in complex, challenging situations. Her previous experience as a wireline engineer, makes Trerub a valuable addition to the Palantir Solutions team.
Julia Hayward has been appointed as a Senior Developer in Palantir Solutionsí growing development team in London. Hayward is part of the team developing the next generation PalantirCASH product. In previous roles she has been responsible for designing and implementing powerful algorithms which are used to distill large datasets into real business intelligence. This experience will be incredibly useful in her role at Palantir Solutions.
Dean MacPherson, Palantir Solutions Director of Operations, EMEA said, ìOur upstream business planning solutions are being widely adopted by many of the industryís major players. Meanwhile our existing client base is, in many cases, taking advantage of the global reach and experience we have as familiar challenges are faced in new regions. Our four new starters continue our strategy of attracting and developing the best talent to maintain the world class offering our customers enjoy.î
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Palantir Solutions Launches a Training and Networking Programme:
LUNCH AND LEARN: Portfolio Optimisation with PalantirPLAN
Palantir Solutions has launched a product education and training programme in Calgary called ìLunch & Learnî. The program is a opportunity for existing clients to meet once a month and receive training on how to perform planning, forecasting and modeling tasks using the Palantir suite of software products.
In this first session, the Palantir consulting team will demonstrate portfolio optimization techniques using PalantirPLAN.
PalantirPLAN provides a practical solution for management to use to effectively allocate resources in the context of uncertainty, contrasting objectives and a multitude of constraints.
The schedule for the day will cover:
- Definition of an optimal portfolio
- Practical portfolio optimisation
- Portfolio optimisation in PalantirPLAN
Jason Ambrose, CEO, Palantir Solutions commented: " We find the Lunch and Learn program provides a platform that enables Palantir to regularly engage our clients and present unique concepts or processes in which we have expertise. Through the establishment of these sessions we hope to continue to provide insight into the challenges people in our industry face and the solutions we have mastered and executed through our years of experience. We also wish to continue to facilitate an open dialogue between Palantir and our valued clientele to ensure our continued osmosis and digestion of the issues they face in their business.
For example, pursuing the optimal portfolio is a challenge facing many companies in the energy industry today, and multiple strategies or methods for determining the best portfolio exist. Through a great deal of exposure and experience with this issue, some Palantir consultants have developed an expertise in this focus. At our first lunch and learn they will share their insight into some of the different methods, their application and solutions Palantir has adapted to these key challenges. î
The event, which is free of charge to attend for pre-registered delegates, takes place on Wednesday the 26th October 2011 between 12:00pm and 1.30pm at 104 540-5th Avenue, SW Calgary, Alberta, Canada.
For more information and registration see this link:
http://palantirpesentslunchandlearn.eventbrite.com
Palantir has proven expertise in the field of Portfolio optimization. With the process of Portfolio Optimization, it becomes easier for any organization to maximize their portfolio returns for a given level of risk or to minimize risk for an unexpected level of return. Portfolio Optimization is the manual or computer assisted process of selecting projects that offer the greatest return.
PalantirPLAN is the leading portfolio optimisation solution in the upstream oil and gas industry. With PalantirPLAN upstream business planning is reinvented. It is designed to connect data and provide dynamic updates enabling you to provide instant insights and deliver real results.
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Is the Shale Gale Blowing a Storm or Blowing Hot Air?
E&P delegates from around the world will converge on New York City for the Oil Council’s Americas Energy Capital Assembly,taking place on the 5 and 6 October 2011.
Palantir Solutions has two representatives on the Keynote Industry Panel that will examine:
Choosing, adopting and executing successful shale strategies for today’s markets – what must O&G executives consider?
- Oil or gas? Domestic or international? Ownership or JVs? Organic growth or aggressive acquisitions? To buy or to be bought? What strategies have you chosen and why?
- What prices are being used to benchmark assets and determine valuations?
- Financing new developments and acquisitions: what tools and techniques should O&G ompanies consider using?
- How are investors viewing shale? Are they suffering from shale fatigue?
- How serious an impact will fraccing liability issues have on current shale operations/strategies? Are moratoriums across NA likely by year’s end?
- Are technological advances moving fast enough to keep up with the evolution the shale sector?
- Where are the opportunities of tomorrow?
Palantir Solutions will be represented on the panel by founder and Managing Director Jason Ambrose.
Jason Ambrose commented: "Palantir Solutions has been on the shale gas frontier as a result of its Canadian heritage. The lessons learnt, and still being learnt, in North America are setting precedents around the world as shale moves up the agenda for upstream companies and their investors."
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UK Budget Hits Energe Sector Hard
In an unexpected move, UK Budget changes announced this week make the regime one of the least stable in the world and could deter North Sea investment and perhaps unintentionally accelerate decommissioning
Palantir Solutions (www.palantirsolutions.com) provides economic planning consultancy and software to the global upstream oil and gas community as well as the sector’s investment banking specialists.
Zaur Muslumov, senior consultant, Palantir Solutions commented: “The UK Government sprung a surprise on the industry with a heavy increase in tax burden. The short term financial benefit to the Treasury may well be at the of cost of diminished medium to long term revenue as the UK looks less attractive to investors.”
A summary of Muslumov’s analysis:
- Regime stability: the UK regime is now effectively one of the most unstable regimes globally, which complicates investment decision-making and increases uncertainty (most investors had actually been expecting Budget 2011 to introduce improvements for new fields and assets with marginal economics).
- Economic impact: the update effectively increases the tax burden by 24% for non-PRT (62% vs the original 50%), and by 8% for PRT (81% vs 75%) assets. For the majority of North Sea assets, this will eliminate at least 15% from their values. The impact can already be seen on the share price of companies whose portfolios are heavily weighted towards the UK (EnQuest, Premier Oil, Valiant, BG, Talisman, etc.).
- Government revenue: while this increase in SC rate might help the government in the near term, it will most likely hurt in the long run because of the capital will gradually relocate to more attractive oil & gas provinces (perhaps with higher government take, but with “cheaper” resources and more stable fiscal environments).
- The increase in SC is likely to induce greater risk-taking in exploration as the tax relief is now 62% vs the original 50%. This is only true for companies who have sufficient profits from other upstream oil & gas activities in the UK to shelter such exploration expenditures (the government will be effectively paying 62% of dry hole costs for these players). There is little value added for small pure exploration companies because they will have to bear the full cost of exploration in the absence of profits elsewhere.
- Restrictions on decommissioning relief: while the total effective tax rate has risen now to 62% for non-PRT and 81% for PRT assets, the decommissioning capex will attract only 20% Supplementary Charge relief (the total of 50% for non-PRT, and 75% for PRT fields). The budget claims that this is to “avoid incentivising accelerated decommissioning” (2011 Budget document, p. 38, item 1.149). In reality, in the majority of cases decisions on cessation of production timing are based on the cumulative before tax cash flow, and SC rate changes have limited impact on them. However, the increased tax rate will reduce the amount of money available to operators for maintenance and brown-field modifications/incremental investment opportunities, which might actually accelerate decommissioning dates.
- On the other hand, this sets a potentially good precedent for PRT fields for a scenario where PRT gets abolished in the future. While positive on the surface, the biggest uncertainty associated with the potential abolishment of PRT in the future is in the simultaneous loss of PRT decommissioning relief. So the fact that the government recognises that decommissioning relief should be assessed in line with the tax burden over the full field life can be seen as a positive (though minor in the whole scheme of things) news.
- The declared reasoning behind this increase is not very convincing: the increase in price between 2006 and now hasn’t resulted in a proportionate increase in corporate profits because the cost base has increased substantially as well. In addition, when the government refers to unexpected windfall profits in excess of what’s been assumed at the time of investment decision it fails to acknowledge the fact that very few companies take their decisions based on the current prices. Most companies test the investment economics against the “downside” case, and then pick investment opportunities that demonstrate best economics under a number of price scenarios. But no company restricts its upside in the investment analysis, and it is exactly for this reason (unrestricted upside) that many investors put their money in upstream oil & gas. So by introducing such unexpected increases in tax rates the government is hurting equity investors and making investment in upstream oil & gas in UK less attractive.
- Gas vs oil: the Budget document doesn’t contain any reference to gas prices. While the oil price has gone from $66/bbl to $115/bbl since the last increase in SC rate in January 2006, NBP gas price (at which the majority of the UK gas production is sold) have actually fallen (front month futures were at 84p/th in early January 2006, and they are 62p/th at the close of market yesterday). So the existing and future gas producers in the SNS, CNS and WoS basins will be worst hit by the SC rate increase. The Budget document also doesn’t mention what will happen if the gas prices remain depressed, and is entirely concentrated on oil price threshold of $75/bbl.
- Infrastructure assets: these assets don’t get the full effect of the increase in hydrocarbon prices (most tariffs are only partially indexed to oil price, and cost-share receipts don’t control for the price of hydrocarbons at all), but will have to pay 62% on their tariff and cost-share revenues (unless the owners don’t have equity in throughput volumes, in which case it is just the standard 26% CT rate).
- Complexity: The government will most likely end up in a situation where it will be forced to provide tax incentives on an ad hoc basis to various fields and projects that will simply not meet investment criteria at the new SC rate. An alternative would be to scrap the SC and associated allowances altogether and introduce a special tax ring-fenced at field level and linked to the rate of return (similar to the Danish Hydrocarbon Tax). This seems to be a more efficient solution, which will please the industry, and allow the government to collect higher taxes on windfall profits without jeopardising the stability of the regime.
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OMV & PETROM Adopt Palantir Solutions Software for Consolidated View of all Global Assets
PalantirCASH & PalantirPLAN have been installed by OMV & Petrom
Palantir Solutions is in progress of implementing a global economic and portfolio planning system for OMV & Petrom Exploration & Production. With group sales of EUR 17.92 billion in 2009 and 34,676 employees, OMV Aktiengesellschaft is one of the biggest listed industrial companies in Austria and the leading energy group in the European growth belt.
The new system will improve process efficiency by reducing manual manipulation while drawing data from multiple third party systems. This will give the business a comprehensive overview of global assets to aid decision making and planning at both local and global levels in a standardised manner. The newly installed system is based on two of Palantir's core software products: PalantirCASH and PalantirPLAN.
Jason Ambrose, MD, Palantir Solutions commented: "The pace at which Palantir's software and services are being adopted around the globe by pedigree companies such as OMV reflects the growing recognition that upstream companies can run best of breed economics and planning by partnering with Palantir."
Two products from the Palantir Solutions software are employed:
Palantir Solutions (www.palantirsolutions.com) provides economic and planning consultancy and software to the oil and gas community to provide improved transparency and rapid asset evaluation.
For more product information or to request a demonstration, contact Amy Williams-Allden at Palantir Solutions on +44 (0) 20 7901 3708 / awilliams@palantirsolutions.com.
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PalantirPresents: "Conventional Past to Unconventional Future?"
Global seminar series returns to Houston on October 29th
Oil & gas executives are invited by Palantir Solutions to attend PalantirPresents, a portfolio planning and economics seminar, to be held on October 29th 2010 in Houston. Attendance is free for pre-registered delegates.
Palantir Solutions (www.palantirsolutions.com) provides economic and planning consultancy and software to the oil and gas community to provide data integration, improved transparency and rapid asset evaluation.
The seminar will focus on techniques for capturing and modelling the uncertainty in infrastructure economics and reserve determinations including the following topics:
- Educating management on the decision-making complexities for upstream assets with economic dependencies on other assets;
- Improving project and portfolio value by incorporating all key uncertainties and constraints in the investment analysis;
- Reserves booking uncertainties related to the hub economics;
- The impact of royalty and tax regimes on the reserves determinations;
- A demonstrate of how the unconventional gas workflows are developed.
Jason Ambrose, MD, Palantir Solutions commented: "We are pleased to have the PalantirPresents seminar series return to Houston. Over the three years the seminars have been running we have developed a loyal following. Delegates typically include representatives of companies active in oil & gas exploration and production including Hess, Devon Energy, Hilcorp Energy, Laredo Energy, Anadarko, Shell, ConocoPhillips, Gaz de France, BP, Chevron, Dana Petroleum, E.ON Rurhgas and Premier Oil, as well as oil & gas investment banking specialists."
The seminar, which is free of charge to attend for pre-registered delegates, takes place between 8.15am – 1.00pm on October 29th at the HiltonWestchase, Houston. For more information and to book a place, contact Achla Patel at Palantir Solutions: apatel@palantirsolutions.com.
The agenda is as follows:
8:15-8:45 am Coffee and arrivals
8:45-10:00 am Presentation by Zaur Muslumov and group discussion
10:00-10:30 am Break 10:30-12:00 pm Presentation by Jason Ambrose and group discussion
12:00-1:00 pm Lunch
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E.ON’s Minson Joins Palantir Solutions
Robert Minson has been appointed by Palantir Solutions, which provides economic planning consultancy and software to the global oil and gas community. He will oversee North American & European software pilots and implementations, conduct economic and planning projects as well as formalising the infrastructure for Palantir's expansion in Australia.
During his time at E.ON Ruhrgas UK E&P Minson was part of the team which conducted the tender which resulted in PalantirCASH and PalantirPLAN being adopted locally prior to its subsequent adoption by the E.ON Ruhrgas E&P corporate headquarters.
With E.ON Ruhrgas Minson held positions in the UK as an economist and Southern North Sea development engineer following his time in Germany where he focused on pipeline integrity management. Prior to his time with E.ON Ruhrgas Minson worked in Australia on the construction of the 680km South East Australia Gas Pipeline. Minson is an experienced petroleum economist and Certified Engineer with post-graduate engineering qualifications (obtained in Germany).
Jason Ambrose CEO and co-founder, Palantir Solutions commented: "Having been client-side at E.ON Ruhrgas while implementing Palantir’s software, Rob can offer a genuinely empathetic perspective to those customers adopting our software. He will also play a key role in building on our recent entry in to the Australian market.
"The Palantir approach to new markets has been applied as we have grown through North America, Europe and Asia. We establish a presence with cornerstone clients and build on it. We are already active in Australia and are in discussions with a number of players requiring our economic planning and software expertise."
Rob Minson added: "I had a great insight in to working at Palantir by working with them and their powerful software, both of which made the opportunity to take this role all the more compelling. Not only do I get to continue working in the North Sea and Europe but I am also relishing the opportunity to work out of Canada, the US and Australasia."
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Shale Gas Evaluation 'Open House' in Calgary
To Explore Unconventional Modelling & Economic Analysis
More than 400 E&P delegates will converge on the Shale Gas Evaluation 'Open House' conference on June 1st, 2010. The conference, free to attend for pre-registered delegates, is being staged at the Hyatt Regency Hotel, Calgary. Delegates are reservoir engineers and senior decision makers with a focus on the shale gas sector.
The reason the event is being staged is the reason Palantir and Fekete have formed an alliance. The unconventional elements of companies' portfolios cannot be accurately forecasted on in the same way as conventional elements. As the industry matures and scales escalate, the requirement for real time analysis of production and reserves linked to their financial impacts becomes more critical.
Jason Ambrose, CEO, Palantir Solutions commented: "Decision makers are only as effective as the data they are working with and the evaluation tools they have to hand which is why there is a growing hunger for more accurate and insightful data analysis."
The event is hosted by Palantir Solutions, which provides economic / planning consultancy and software to the oil and gas community and Fekete Associates Inc., which provides reservoir engineering software and services to producing companies worldwide.
Registration is at 11.15am followed by a networking lunch prior to the main presentations and panel discussions:
- Performance Analysis and Modeling of Shale Gas Reservoirs presented by Dave Anderson, Vice-President, Software Fekete.
When talking about unconventional gas, the methods for collecting, interpreting and modeling well performance data require an "unconventional" approach. We will demonstrate state-of-the-art of well performance analysis technology for unconventional gas, including analysis of continuous rate and flowing pressure data (RTA), integrated drawdown / buildup analysis (RTA and Welltest) and perforation inflow / fall-off tests (Welltest). We will present a systematic workflow for analyzing shale gas wells that uses suitable assumptions and addresses inherent uncertainties resulting from the complexity of shale gas completions and reservoirs. In addition, we will provide an overview of some cutting-edge reservoir modeling technology including horizontal well with multiple fractures, desorption and stress dependent rock properties.
- Managing Uncertainty in Reserve Valuations presented by Jason Ambrose, CEO & founder of Palantir Solutions.
Reserves management requires companies to model uncertainties that are geological, technical, economic and political. The oil and gas industry has a long history of applying advanced risking techniques in order to manage geological or subsurface uncertainty. However, things are somewhat different in the surface world. Wide swings have occurred in commodity prices, currency credit, credit markets and fiscal policy. And yet, most regulating bodies and companies overlook risk theory and tend towards deterministic methods for the "surface world" components of their reserve determinations. We will investigate techniques that allow reserve managers and planners to incorporate economic and fiscal uncertainty in reserves determinations. We will demonstrate how the unconventional gas workflows developed by Fekete integrate smoothly into the economic tools developed by Palantir Solutions. One key area of discussion will be the impact of royalty and tax regimes on the reserves determinations. Progressive fiscal policy, both at a provincial and federal level, could extend the reserve life of existing, conventional developments. Reducing the uncertainty of conventional reserves, may help bridge the transition from a conventional past to the unconventional future.
The event, which is free of charge to attend for pre-registered delegates, takes place on Tuesday June 1st 2010 between 11.15am and 1.00pm at the Calgary Hyatt Regency Hotel, 700 Centre Street SE (Imperial Ballroom, Level 3). For more information and to book a place rsvp@fekete.com.
Palantir Solutions provides economic and planning consultancy and software to the oil and gas community to provide improved transparency and rapid asset evaluation.
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London Seminar - Hub Economics
The Challenge of Hub Economics is the 7th in the Palantir Presents Seminar Series held in London, Aberdeen, Houston and Calgary. The seminar, to be held on Thursday 20th May 2010 at the Crowne Plaza London St. James, is designed as an open discussion forum for oil & gas executives and their investment banking advisers.
Calum McGregor, MBE, Assistant Director Strategy and Economics, Maersk Oil will set the stage by exploring the topic list below. Kurt Prendergast, Principal Consultant, Palantir Solutions will then show one option of how to model the hub economics. The session will then open up into a broader debate with an expert panel led by McGregor.
- Educating management on the decision-making complexities for upstream assets with economic dependencies on other assets.
- How to manage the trade off between the need for detailed information and the requirement to provide results quickly.
- Impact of cost-sharing arrangements on long-term economics of hubs and their users.
- Understanding and modelling of the "domino-effect" scenarios within asset clusters.
- Demonstration of the application of the analytical framework using the Bruce-Keith-Rhum cluster in the Northern North Sea as an example.
Jason Ambrose, MD, Palantir Solutions commented: "We ran the same seminar to a capacity crowd in Aberdeen last month and the debate was lively. The seminar series is growing increasingly popular as a forum to share expert practice and debate E&P decision making. It is fascinating to see the opinions fly when you have delegates attending from key industry players which include representatives of Shell, ConocoPhillips, Lundin, Maersk, Marathon, Cairn Energy, Centrica, Talisman Energy, Dana Petroleum, Taqa and the UK BIS."
The seminar, which is free of charge to attend for pre-registered delegates, takes place between 9.15am and 1.00pm on Thursday 20th May 2010 at the Crowne Plaza London-St. James, 45-51 Buckingham Gate, SW1E 6AF. For more information and to book a place, contact Achla Patel at Palantir Solutions on +44 (0)207 901 3700/ apatel@palantirsolutions.com.
Palantir Solutions provides economic and planning consultancy and software to the oil and gas community to provide improved transparency and rapid asset evaluation.
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Talisman employs Palantir software system
Dynamic integrated economic and financial planning system has gone live following more than a year's planning and development.
Palantir Solutions was tasked with building a standardized planning system with advanced reporting and portfolio planning capability for Talisman Energy. The system would ultimately be used to run the business plan globally at the corporate level to forecast financial statements. The newly installed system is based on its core software products: PalantirCASH, PalantirPLAN and PalantirFINANCIALS. Palantir has previously implemented software for Talisman Energy in regions including Aberdeen and Norway.
Jason Ambrose, MD, Palantir Solutions commented: "We are pleased to be working with a large and dynamic international company like Talisman. Consolidated data links from Talisman's global operating regions funnel intelligence in to the new economic and financial planning system. Palantir provides a number of benefits which include standardized reporting allowing detailed and rapid comparative performance of assets to capture changes in the environment across Talisman's business operations.
"There are seven databases comprising of more than twenty reporting regions in eight currencies. The results are aggregated to provide a complete overall picture of Talisman's business. Palantir had consultants working in Calgary, the UK, Norway, Indonesia and Malaysia to implement the software and assist with business planning process."
Three products from the Palantir Solutions Software are employed:
- PalantirCASH - Economic Evaluation Solution: an economic system on which accurate and reliable economic analysis can be performed in a secure and standardized manner.
- PalantirPLAN - Portfolio Planning Solution: a portfolio analysis solution that allows planners to get an in-depth insight in the portfolio by creating detailed business plans, setting targets and extensive shuffling of projects and attributes.
- PalantirFINANCIALS - Consolidated Financial Statement Solution: an integrated product that builds dynamic financial statements that can be tuned to the users' own company standards.
Palantir Solutions provides economic and planning consultancy and software to the oil and gas community to provide improved transparency and rapid asset evaluation.
For more product information or to request a demonstration, contact Amy Williams-Allden at Palantir Solutions on +44 (0) 20 7901 3708 / awilliams@palantirsolutions.com.
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F.A.S.T Harmony integrated with PalantirCASH shows technical and economic reserves variance
Palantir Solutions, which provides economic / planning consultancy and software to the oil and gas community, has announced an alliance with Fekete Associates Inc., which provides reservoir engineering software and services to producing companies worldwide.
Fekete's F.A.S.T. Harmony™ is the link between the technical analysis and a Palantir Solutions planning tool (PalantirCASH). The production forecasts flow directly into Palantir's cashflow and portfolio models to create a seamless link between technical analysis, economic, financial and portfolio planning. The result is an integrated planning system that is efficient, responsive and dynamic. Changes in the technical or commercial environment can be modeled and updated on the fly as new business opportunities arise.
PalantirCASH is an economic evaluation system on which accurate and reliable economic analysis can be performed in a secure and standardized manner. It allows planning teams and asset managers to access rapid economic valuations of global portfolios to enhance decision making processes.
F.A.S.T. Harmony™ is the core component of Fekete's reserves evaluation and production analysis software toolkit. It brings together all of the accepted methods of evaluating reserves and forecasting production plus advanced methods for unconventional reservoirs.
Jason Ambrose, CEO and co-founder, Palantir Solutions commented: "The synergy of integrating Fekete's reservoir management and Palantir Solution's economic planning brings a nose to tail production data analysis and reserves evaluation toolkit. Oil and gas companies with access to this rapid and accurate analysis will be at a natural competitive advantage."
Kevin Dunn, VP, Software Business Development, Fekete added: "Fekete and Palantir Solutions are working with many progressive producers who want the efficiency and reliability that this solution will provide. The first implementations of these tools will give early adopters a competitive edge in the market."
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Here is a list of other Palantir previous press releases:
18 Nov 2009 Press Release - Palantir Portfolio Services
1 June 2009 Press Release - London Seminar Announcement
16 March 2009 Press Release - Aberdeen Seminar Announcement
5 February 2009 Press Release - Palantir TIBCO Spotfire partnership
29 January 2009 Press Release - Enhanced Computing Capability