IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced that California Resources Corporation (NYSE: CRC), the largest oil and natural gas producer in California on a gross-operated basis, has selected the IHS Markit enterprise data management platform, EDM for Energy, as part of its strategy to invest in best-of-breed solutions that will help drive transformation in its business.
CRC has selected EDM’s Well Master solution that allows exploration and production companies to apply complex matching criteria across multiple sources to define a blended well master for all situations. Well and well-related data is at the core of exploration and production operations, however, keeping data consistent across multiple systems, users and partners can be challenging. EDM for Energy helps tackle this problem by creating a single source of truth.
“We are implementing EDM for Energy to improve data quality and consistency and to support better informed decision-making across our business,” said Jennifer Anderson, Leader, Big Data Analytics at CRC. “All of our teams – whether it’s our geoscientists, technologists or engineers – will now be leveraging the same reconciled data for decisions regarding our well infrastructure. The new solution will also enable us to supply accurate data to the regulatory authorities more efficiently.”
“CRC represents the 21st client win for EDM for Energy which was first launched 18 months ago and is built on our established EDM solution for financial services,” said Nathan Amery, executive director, EDM for Energy at IHS Markit. “It’s been really exciting to see the industry embrace our approach to data management and the value that our clients derive from the software. Putting a strategic focus on data management is helping our energy clients power data-driven decisions, unlock new technology value and deliver true digital transformation.”
EDM for Energy is typically implemented as a fully managed service in the cloud but it is also available as a traditional on-premise deployment. The EDM for Energy Managed Service supports firms’ cloud-first initiatives and enables them to reduce implementation times, cut costs and scale up and down quickly as business needs change.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
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