Petrel software, developed by SLB, is an E& P application within the oil and gas industry, providing advanced seismic interpretation, geological modeling, and reservoir simulation workflows. However, the substantial financial outlay associated with Petrel licenses underscores the necessity of precise license optimization.
Open iT delivers a purpose-built, data-driven solution designed to address these challenges, enabling organizations to achieve measurable cost reductions, enhance resource allocation, and maintain compliance with complex licensing agreements.
Petrel Software Licenses: A Complex and High-Value Investment
With annual costs ranging from $30,000 to $50,000 per user, Petrel software licenses are indispensable for petroleum engineers, reservoir engineers, geophysicists, and geologists. To justify these significant expenditures, organizations must ensure seamless access and efficient utilization of this critical software while avoiding operational bottlenecks and overspending.
Petrel’s intricate license offerings, such as “Stack on Start” and “Bundle“, require granular tracking of individual modules and features, adding complexity to effective license management. Additionally, the lack of module-level visibility has historically limited organizations’ ability to analyze usage patterns, leading to underutilization and inefficiencies. Many companies over-purchase or over-provision licenses to address peak demand, resulting in idle assets and elevated costs during off-peak periods.
Compounding these challenges is the difficulty in collecting accurate usage data, leaving organizations reliant on incomplete insights. Compliance and audit requirements further heighten operational complexity, demanding robust systems to ensure adherence to licensing terms and generate precise, audit-ready reports. These factors make effective Petrel license management not only essential but also highly challenging for enterprises.
Optimize Petrel License Management with LicenseAnalyzer
Managing Petrel software licenses effectively requires a strategic approach that combines real-time monitoring, granular analysis, and forward-looking planning. Open iT provides advanced tools designed to address the complexities of Petrel licensing, enabling organizations to optimize usage, reduce costs, and maintain seamless operations.
Open iT’s LicenseAnalyzer delivers in-depth insights into Petrel license utilization across departments, projects, and locations. By analyzing usage data, organizations can identify underutilized licenses, enabling better allocation and more informed procurement decisions. This approach not only minimizes unnecessary expenditures but also ensures that critical projects have the resources they need to progress without interruption.
Discover Smarter Petrel License Management with Open iT.
LicenseAnalyzer provides real-time monitoring of Petrel application usage, offering precise visibility into daily usage patterns and areas of inefficiency. Its integration with other Open iT tools creates a comprehensive view of software utilization, empowering organizations to adjust their license management strategies dynamically and address inefficiencies proactively.
LicenseAnalyzer Level 3’s automated license harvesting monitors CPU usage, I/O operations, and user interactions to detect idle Petrel licenses. If inactivity exceeds a threshold, the system notifies the user. Unclaimed licenses are suspended and reallocated, preventing hoarding, optimizing concurrency, and ensuring efficient license utilization based on active demand.
In addition to monitoring and analysis, Open iT allows companies to simulate various licensing scenarios to evaluate their impact on costs and operations. This capability enables organizations to forecast future licensing needs, align procurement strategies with actual usage trends, and optimize their investments in Petrel licenses.
Quantifiable Outcomes: Devon Energy’s Success with Open iT
Devon Energy, a U.S.-based independent oil and natural gas exploration and production company, faced challenges in managing escalating IT expenditures, particularly within its subsurface portfolio, which included Petrel software licenses. Seeking to control costs and optimize resource allocation, the organization turned to Open iT for advanced license monitoring and enhanced reporting capabilities.
Using Open iT’s solutions, Devon Energy gained detailed visibility into its software usage patterns. This enabled the company to analyze license utilization at a granular level, providing actionable insights into the specific needs of various teams. By leveraging these insights, Devon was able to make data-driven decisions about license allocation and eliminate inefficiencies in their software ecosystem.
Profound Impact
This partnership yielded remarkable results. Devon Energy reduced its subsurface software budget by 20% while improving license utilization efficiency. The enhanced usage data enabled more effective negotiations with software vendors, strengthening procurement strategies and ensuring long-term cost control. This case underscores the tangible value of integrating advanced license management solutions into complex IT environments.
Maximize the Value of Your Petrel Licenses
Petrel software is indispensable for organizations that require advanced subsurface modeling and analysis capabilities. However, the effectiveness of such assets is directly tied to how well its licensing is managed. Inefficient license management can lead to underutilized resources, increased costs, and potential compliance risks, thereby limiting the software’s operational impact.
Open iT helps organizations address the complexities of Petrel license management. By leveraging advanced analytics, real-time monitoring, and comprehensive reporting, Open iT enables organizations to maximize license utilization, minimize unnecessary expenditures, and maintain strict adherence to compliance requirements.
Contact Open iT today to get more out of your Petrel licenses.
