HOUSTON, Sept. 22, 2008 -- Geotrace, a leading reservoir services company that provides subsurface imaging solutions to the oil and gas industry worldwide, will introduce a new E&P software solution designed to save time and money for small and medium-sized oil companies during SPE 2008 in Denver.

This new data management tool, TIGRESS Live!, supports the entire exploration lifecycle with an integrated, real-time framework similar to those available to the majors.

"We asked some of our customers what the biggest problem is with the current generation of data management tools to better understand their challenges," said Bill Schrom, CEO of Geotrace. "The overwhelming response was the amount of time required to find data. With that knowledge, Geotrace developed TIGRESS Live! to offer a more streamlined approach for managing capital and expertise in locating and producing hydrocarbons in the shortest time possible."

The software sifts data from the available sources such as existing physical and digital archives, interpretation systems and geo-streaming services, and loads it via Geotrace’s innovative drop box technology. Production reporting, well performance and analysis data is available, updated and distributed in real time.

The software comes with its own feature-rich tools covering all aspects of the exploration process from seismic survey through geology, petrophysics and mapping, to production and reservoir engineering.

Recognizing that oil and gas companies prefer to view their data in terms of maps, the database includes a modern flexible graphical browser for reviewing and cataloguing data. The same browser is used for describing the prospect in terms of images and infrastructure and selecting data from the database.