OKLAHOMA CITY – NeoFirma reveals cloud computing innovation to help small oil & gas businesses cut costs as industry challenges continue and producers seek higher efficiency. The announcement was made at the Oklahoma Oil & Gas Expo where the company’s latest drilling and production software will be showcased.
NeoFirma, a Dallas-based technology company backed by T. Boone Pickens investment, provides Software-as-a-Service (SaaS) to independent energy companies. For more than a decade, NeoFirma has continued to bring cloud computing innovation to the thousands of small businesses that collectively contribute the most to domestic drilling and production, yet have limited technology resources. Leveraging the cloud’s economy of scale, NeoFirma’s software helps these companies collect field data, create drilling and production reports, and manage their operations.
“As cloud computing has evolved, so has our software,” said NeoFirma’s president, Steve Haglund. “Our latest generation of production and well work reporting taps into the cloud’s on-demand power instead of just creating virtual machines,” he continued, “and the innovation translates to even higher levels of cost-efficiency for our clients.”
Cloud computing gives software developers two methods of delivering software online. Most use Infrastructure-as-a-Service (IaaS) to create virtual servers. While IaaS cuts hardware costs, virtual machines have software limitations and licensing costs similar to physical machines. Platform-as-a-Service (PaaS), on the other hand, allows developers to tap directly into cloud resources, much like a utility service.
NeoFirma’s energy software is built on the Microsoft Azure cloud platform, which provides industry-leading PaaS capabilities.
“We are pleased to see NeoFirma and its customers benefit from the Microsoft Azure cloud platform,” said Egbert Schroeer, Worldwide Managing Director, Process Manufacturing & Resources Industry, Microsoft Corp. “The Microsoft Azure tools and managed services drive innovation by helping companies like NeoFirma provide cost-effective solutions that empower all enterprises, regardless of their size and IT resources.”
With an average of just 12 employees, American independent producers drill 90 percent of the wells domestically, accounting for 85 percent of natural gas and 54 percent of oil production, according to IPAA. NeoFirma has focused on the unique software needs of independents since its inception.
“Neofirma has been able to not only meet Cheyenne Petroleum’s needs but with the cloud technology, they have been able to customize the software according to our unique specifications,” said Wenona Pullin with Cheyenne Petroleum Company, an independent oil & gas producer based in Oklahoma City.” Pullin added, “NeoFirma’s inventive use of Microsoft Azure cloud has assisted Cheyenne in obtaining crucial operational data needed to manage our business.”