Energistics Hosts 3rd Annual Standards Summit & Reception

HOUSTON, TX--(Marketwire - October 28, 2008) - Energistics announced the success of its 3rd Annual Standards Summit and Reception held last Thursday, October 23rd at the Intercontinental Hotel in Houston. More than 200 industry leaders from North America, Europe and India attended the Standards Summit, which focused on "Strategic Standardization Management."

Commenting on the Summit, Dave Latin, Chairman of the Energistics Board and Vice President of BP's fieldofthefuture® Programme, said, "In a competitive and collaborative business world impacted by global challenges, such as climate change, energy efficiency, environmental concerns, ethical issues, not to mention a complex and ever changing business environment, the need for reliable insight and information is critical. Standards facilitate movement of data and information. The Energistics Standards Summit provides a forum to discuss how standards can improve the efficiency and effectiveness of the upstream industry."

Randy Clark, President and CEO of Energistics, said, "The Energistics Standards Summit and Reception is intended to bring together industry leaders in order to help all of us understand better the importance and benefits of implementing and deploying standards industry wide. Engaging the entire upstream industry in this process can significantly improve profits and competitiveness."

Industry leaders from Aspen Technology, Chevron, ONGC, Oracle, and Looper Reed & McGraw kicked off the Summit's morning North America Region Meeting and Global Perspective Session by sharing viewpoints of the challenges, benefits, competitive advantage and protecting intellectual property rights as they each relate to standards.

Stephen Munden, Managing Director for Business Keys Ltd, presented the Keynote Address during the afternoon session. Mr. Munden emphasized the importance of creating a standards strategy and how standardization can be used to add value for a company and its customers in all areas of the value chain.

Following Mr. Munden's Keynote Address, Bill Pike, Editor in Chief, Hart Energy Publishing, moderated a thought provoking and lively Round Table discussion including the following panelists: Randy Clark, President and CEO, Energistics; Tom Halbouty, VP & CIO, Pioneer Natural Resources; Tim Hopkins, VP Global Upstream Critical Information, IHS; Arshad Matin, President and CEO, SMT and Stephen Munden, Managing Director, Business Keys Ltd.

This year's Standards Summit and Reception was generously sponsored by IBM, Schlumberger, Tibco, Looper Reed & McGraw, Microsoft and Oracle.

Energistics is a global, membership-sponsored consortium that facilitates an inclusive user community for the development, deployment and maintenance of collaborative technologies using open data exchange standards for the upstream oil and natural gas industry. To ensure these freely-available, standards-based technological, computing, and process solutions deliver real business value, Energistics focuses on market-driven, integrated technical and business information standards for efficient data handling, storage, management and exchange. Deployment of Energistics' open data exchange standards promotes interoperability improvements between trading partners and implements universally applicable solutions that deliver tangible bottom line results across the entire E&P life cycle.

Energistics membership consists of integrated, independent and national oil companies, oilfield service companies, hardware and software vendors, systems integrators, regulatory agencies and the global standards user community.

For more information, visit www.energistics.org.

Contact Information: CONTACT: Jerry Hubbard +1 (713) 294-4993