To support the wider industry’s call for cost reductions during the ongoing economic and industry downturn, and to help companies access existing data libraries, Sharp Reflections has announced that it has cut its up-front annual fee for Pre-Stack Pro Cloud by 80%.

The pre-pay fee for Pre-Stack Pro Cloud will be reduced from €50,000 to €10,000. This gives users immediate access to the pre-pay cost model, which results in substantial cost savings, typically reducing monthly invoices by 40-50%.

Following the recent plunge in oil prices, new seismic purchases or full-scale reprocessing projects are highly susceptible to budget cuts. And while the lower oil prices will slow activity, E&P companies still need to honor licence commitments and progress seismic work programmes during the downturn.

As a result, access to Pre-Stack Pro Cloud let’s operators utilise less expensive pre-stack data conditioning and interpretation to extract fresh insights from existing data libraries, at a fraction of the cost. The software empowers users to mature prospects and optimize drilling locations by undertaking in-house reprocessing and seismic inversion on existing data.

With many users also now working from home, Pre-Stack Pro Cloud enables users to fully leverage 100% of their seismic data, from anywhere. The software can run from any computer and location with a minimum 4G internet connection. This secure and reliable access to compute power and seismic storage is provided by Amazon Web Services (AWS). All software modules (processing/interpretation/inversion/azimuthal) are included.

At the current time, Pre-Stack Pro projects, completed in the cloud, could be highly beneficial, cost efficient and offer timely licence work programme activity during the downturn. With cloud computing solutions encouraging remote collaboration, both within companies and between license partners, project efficiency can be maintained.

Sharp Reflections offer two different pricing plans for access to its Pre-Stack Pro Cloud software:

• Pay as you go – this flexible approach (with no annual commitment) is ideal for occasional users with large data sets
• Pre-pay plan – this discounted pre-pay option is available for more frequent users, who meet a minimum annual spending commitment. Users then benefit from reduced compute and storage fees, resulting in substantial cost savings.

Current pay as you go users are welcome to switch to the pre-pay plan to take advantage of the current offer. Pricing is 100% usage-based, and all up-front initiation and recurring maintenance fees have been eliminated. Cloud users receive full maintenance and support, at no additional charge.

Bill Shea, CEO of Sharp Reflections, commented:
“During uncertain times it is important to squeeze everything out of existing data libraries. Our cloud solution can help companies do this, even when their employees are working from home. Looking at the wider situation, we have reviewed the access options for Pre-Stack Pro Cloud in 2020 and have developed an approach that we believe is truly innovative in the market.

“We hope that by reducing the upfront fee for 2020, we can encourage customers to take advantage of cloud delivery options, and continue to progress and mature their E&P licences at a time when all activity is under review.”

For more information please download the pricing & FAQ flyer below or please contact: Turid Svenning, Sales Manager.

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