Energistics and the Society of Exploration Geophysicists (SEG) signed a memorandum of understanding that will allow them to work together to develop open standards for the upstream portion of the oil and natural gas industry, Energistics said March 19.
Open standards benefit the industry’s data exchange and management best practices, Energistics noted.
"This agreement will fortify an already strong relationship between SEG and Energistics and increase our collective impact," said Jill Lewis, an SEG Technical Standards Committee member and former chair.
She added, "Our committee is one of several within SEG that can use this bridge to advance applied geophysics."
Energistics said that the memorandum will allow it and SEG to coordinate, cooperate and collaborate for themselves and the industry as a whole.
Energistics noted that recently, both parties were on a standards of leadership council team that developed a freely-available oil industry standard for units of measure.
The SEG is an international, nonprofit society for applied geophysics based in Tulsa, Okla.
Energistics is a nonprofit upstream oil and gas standards consortium. It is based in Sugar Land, Texas.
Recommended Reading
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Daniel Berenbaum Joins Bloom Energy as CFO
2024-04-17 - Berenbaum succeeds CFO Greg Cameron, who is staying with Bloom until mid-May to facilitate the transition.
Equinor Releases Overview of Share Buyback Program
2024-04-17 - Equinor said the maximum shares to be repurchased is 16.8 million, of which up to 7.4 million shares can be acquired until May 15 and up to 9.4 million shares until Jan. 15, 2025 — the program’s end date.