SOURCE: NuTech Solutions

April 20, 2007 16:15 ET

NuTech Solutions' Upstream Predictive Analytics Solutions Featured at DEC 2007

CHARLOTTE, NC -- (MARKET WIRE) -- April 20, 2007 -- NuTech Solutions, specializing in advanced predictive analytics for the petroleum industry, showcased recent benefits achieved by upstream energy companies using predictive analytics software at Digital Energy (DEC) 2007. The company was a sponsor of the event conducted last week by the Society of Petroleum Engineers in Houston, TX.

NuTech Solutions upstream energy experts, Industry VP Kevin Kostuik, and Senior Fellow Dr. David Davis, President of VGO Associates, showcased predictive analytics solutions deployed by exploration and production companies to achieve measurable business value. In a panel presentation moderated by Occidental Petroleum, the benefits of Workover Resource Planning were enumerated. Using predictive analytics for the simulation of resource requirements, Oxy gains improved visibility into future resource requirements, and increases efficiency in decision-making with an objective evaluation of possible workover program scenarios and resource trade-offs.

"We've seen here this week that the upstream E&P industry is recognizing predictive analytics as a must-have technology because the value is real and quantifiable," noted Kostuik. "Our team is proud to work with Occidental Petroleum and other market leaders who have embraced predictive analytics," added Dr. Davis.

About NuTech Solutions

NuTech Solutions, Inc. delivers innovative solutions, powered by Intelligent Business Engines™ that forecast, optimize and learn -- delivering insight and measurable results to Global 1000 companies. Our solutions are designed to solve complex problems in a variety of industries, including automotive, consumer goods, petroleum, financial services and national security.

Based in Charlotte, N.C. and with offices around the world, NuTech Solutions' client roster includes General Motors, BMW, Oxy, Beiersdorf, BB&T, Ford Motor Company, ChevronTexaco, Air Liquide and many U.S. Government Departments and Agencies, including the Department of Defense. For more information call (704) 943-5400 or visit www.nutechsolutions.com.

About VGO Associates

VGO Associates is a spin-off of NuTech Solutions comprised of industry experts helping clients plan for and deploy demand forecasting, decision support, data mining, corporate modeling, and strategic analysis. VGO Associates is led by Dr. David Davis, a NuTech Senior Fellow and one of the original founding scientists of NuTech. www.vgoassociates.com

Forward-looking (safe harbor) statement

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "plans," "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

Contact Information

  • For further information please contact:

    Jennifer Koures
    Director of Marketing
    NuTech Solutions, Inc.
    704-943-5407
    Email Contact