25 April 2002, Dallas, TX - CDX Gas is in the high-risk business of finding and extracting methane from coal beds. To squeeze as much risk as possible out of its exploration and development operations, CDX has just partnered with Palisade on a corporate–wide license for the DecisionTools Suite.
Palisade is no stranger to natural resource exploration. In fact, when @RISK first came on the market in 1987, oil and gas companies were among the first customers. Since then the number of oil and gas customers has grown tremendously, and as their thinking has become more sophisticated, the DecisionTools Suite has kept up and made it easier to get answers for more complex questions.
“We needed a tool that could handle all the uncertainties we have to cope with,” said CDX’s Denny Migl. “Reserve estimates, valuation economics—all the variables, all the data. We needed software with a lot of flexibility and a huge capacity and we needed it to be useful to everybody who works in this company. Palisade has a long history of producing top quality risk-analysis software products, and as far as we’re concerned their DecisionTools Suite is the best suite of tools on the market. ”
Companies like CDX are plumbing the depths. They’re trying to figure out how far they’ll have to go to, how much it will cost them, and what the rewards will be—and the software they use for analysis must accommodate this kind of boundless exploration. That, said Palisade Vice President Randy Heffernan, was the reason CDX chose to standardize on the DecisionTools Suite. “The DecisionTools Suite gives CDX both Monte Carlo and decision tree analysis in one seamless package - without limitations. Competing products don’t even come close to matching the functionality of DecisionTools Suite.”