Stochastic Simulation

Jools Spon-Smith has joined Stochastic Simulation as service delivery manager.Mr Spon-Smith previously worked in software development at IBM.Yashasvi Tyagi and Rubakumar Sankarara have joined Stochastic's pre-sales technical support team.

Osborne Park-based technology firm Stochastic Simulation has launched new software which it claims will enable oil and gas companies to achieve overnight a level of subsurface analysis which would have previously taken years.

James Mullins has been appointed international business development executive at Stochastic Simulation.

Oil and gas modelling software provider Stochastic Simulation has entered into a $5 million deal to acquire modelling technology from Predrill Stresses International.

As the construction peak passes and the oil price slides, service providers to the energy industry are re-evaluating how they do business. See our special report to see how technology, marine logistics and equipment providers are adapting to the new climate, and read about changes in the industry's workforce.

Software company Stochastic Simulation has joined a growing list of Western Australian businesses kicking goals globally in oil and gas technology development, as local providers increasingly target opportunities offshore.

Daniel Colgan has been appointed to the board of Stochastic Simulation Ltd as a non-executive director. Mr Colgan is an owner and director of a construction and property development company that has been successfully operating for over 30 years.

Oil and gas software developer Stochastic Simulation is expected to be put up for sale, two weeks after it was put into receivership. 

Oil and gas software developer Stochastic Simulation has gone into liquidation, about five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best-case scenario.