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    Stochastic Simulation acquires reservoir modeling software

    Stochastic Simulation Ltd.

    Stochastic Simulation Ltd. has acquired PlaNet, an integrated suite of software for reservoir modeling and oil and gas field network planning, from Paradigm.

    PlaNet includes a number of modules that complement Stochastic’s portfolio of software solutions for the upstream oil and gas industry, notably ResAssure and GasAssure.

    Stochastic Simulation has provided software support and training services to PlaNet clients for a number of years and will continue to do so.

    Dr. Andrew Wadsley, chief technology officer at Stochastic Simulation, commented, “The acquisition of PlaNet enables Stochastic Simulation to further enhance our reservoir simulation and oil and gas network modeling portfolio. This will allow us to offer customers a more complete, fully integrated solution and workflow.”

    PlaNet modules include:

    • GasPlan: A fully compositional “reservoir to market” gas planning simulator
    • ResNet: Multiphase and multi-fluid constraint analysis for oil, gas, and water production systems
    • AutoOpt: “Genetic algorithm” global lifecycle optimization analysis of GasPlan and ResNet models
    • AutoMatch: Automatic “least squares” history matching tool for system pressures and rates
    • ResSim: Three-phase, 3D reservoir simulator integrated with ResNet and GasPlan
    • TasGen: Generation of reservoir simulation input from Tasmap
    • TasMap: Geological modeling

    Stochastic Simulation provides specialist modeling software and services to the upstream oil and gas industry, and has developed a suite of software solutions including ResAssure and GasAssure. The company is headquartered in Perth, Western Australia, and supports a global client base.

     

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