Welcome!

.NET Authors: Srinivasan Sundara Rajan, Adine Deford, David Fletcher, Pat Romanski, Suresh Sambandam

News Feed Item

NuVista Energy Ltd. Announces Third Quarter 2012 Results and Resource Study

CALGARY, ALBERTA -- (Marketwire) -- 11/08/12 -- NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce results for the three and nine months ended September 30, 2012 and provide an update on its business plan. During the third quarter of 2012, NuVista made significant progress in building the foundation for focused, profitable and sustainable growth from our condensate-rich Wapiti Montney play that will create long-term shareholder value. NuVista recently completed its Wapiti Montney five well pilot program that commenced late 2011 and is pleased with the results of this program. NuVista now has five wells on production with recent results all exceeding expectations. Subsequent to the end of the quarter, a third-party resource study was completed on NuVista's Wapiti Montney landholdings that begins to quantify the large scope, scalability and value creation opportunity associated with this play.

Highlights for and subsequent to the third quarter of 2012 are as follows:


--  Completed a Wapiti Montney resource study with a Best Estimate of the
    Economic Contingent Resource on approximately 50% of NuVista's
    landholdings of 1.2 Tcfe of which 44.5 MMBoe is condensate;

--  Achieved average production of 23,936 Boe/d compared to 25,360 Boe/d for
    the same period in 2011 and 23,467 Boe/d for the three months ended June
    30, 2012;

--  Realized funds from operations of $17.2 million for the three months
    ended September 30, 2012 compared to $41.3 million for the same period
    in 2011 and $18.1 million for the three months ended 
    June 30, 2012;

--  Completed a capital program of $15.8 million with increased focus on the
    Montney, compared to $49.3 million for the same period in 2011; 

--  Drilled 1 (1.0 net) vertical well in the Wapiti Montney play after the
    completion of the five well pilot program that further delineated the
    play, provided core sample data and validated lands;

--  Completed the semi-annual review of our credit facility following the
    completion of the property disposition with a re-determined maximum
    borrowing limit of $240 million; and

--  Ended the third quarter with long-term debt (net of adjusted working
    capital) of $314.2 million compared to $339.1 million at June 30, 2012.
    Subsequent to the closing of the dispositions on October 17, 2012,
    NuVista's long-term debt was approximately $120 million.

Property Dispositions

NuVista previously announced the proposed disposition of three property packages for gross proceeds of $236 million, which were all completed by October 17, 2012. These dispositions significantly improve NuVista's financial flexibility and are a key component of NuVista's strategic plan to create sustainable organic growth and shareholder value through the focused development of the condensate-rich Wapiti Montney play. The dispositions included a large portion of NuVista's W5 natural gas assets and selected W4 heavy oil assets. These assets have been reclassified on NuVista's September 30, 2012 balance sheet as "assets held for sale". As part of this reclassification, NuVista recognized an impairment of $36.8 million ($27.5 million after-tax) in its consolidated statement of earnings for the three months ended September 30, 2012. As NuVista accelerates its development of the Wapiti Montney play it will continue to pursue opportunities to dispose of non-strategic assets that achieve its minimum price thresholds to redeploy this capital to the Wapiti Montney play.

Update on Wapiti Montney Well Results

NuVista now has a minimum of 30 day initial production rates (IP30) on all five delineation wells. The average IP30 raw natural gas production rates from these wells has been slightly above the typecurve of 5.8 MMcf/d (1,140 Boe/d including liquids) and 4.4 Bcf raw ultimate production. Strong condensate yields have been identified on both NuVista's North and South Block of landholdings, confirming the large scale of this condensate-rich resource play. Liquids yields on the five wells have averaged 59 Bbls/MMcf of raw natural gas, including condensate yields averaging 46 Bbls/MMcf. Average condensate yields from the four wells located in the North Block have averaged the same 46 Bbls/MMcf as the well in the South block, providing key data points on the large aerial extent of condensate in this play. These numbers compare very favorably to our original typecurve liquids assumptions of 50 Bbls/MMcf, including condensate of 35 Bbls/MMcf.

NuVista is pleased to announce that costs continue to trend down our projected cost reduction curves, with the most recent drill cost at $4.8 million and 46 drilling days compared to original well costs of $5.5 million and 55 drilling days. Furthermore, completion costs for the first pilot well were $3.5 million and have decreased to $2.8 million on the latest well.

NuVista has made great strides in the growth of our Montney landholdings, having reached 121,000 gross acres at an average 92% working interest at October 31, 2012, up from 106,000 gross acres at September 30, 2011.

Scope and Economics of the Wapiti Montney Play

NuVista is also pleased to announce the results of an independent resource evaluation of NuVista's condensate-rich Wapiti Montney asset. GLJ Petroleum Consultants Ltd. (GLJ) evaluated the Discovered Petroleum Initially-In-Place (DPIIP) and the Economic Contingent Resources (ECR) associated with the in-place petroleum. The evaluation was performed in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (COGE Handbook) and is effective September 1, 2012.

NuVista is strongly encouraged at this early stage of development by the significant resource scale and value identified in the evaluation. GLJ's Best Estimate of the total DPIIP is 2.7 Tcf recognized on 50,764 net acres of NuVista's 107,223 acre Montney land-holdings. GLJ's Best Estimate of the ECR is 1.2 Tcfe or 200 MMBoe of which 56.8 MMBoe (28.5%) are natural gas liquids. Given the condensate-rich nature of the Wapiti Montney, it is important to note that 44.5 MMBoe of the estimated ECR is classified as condensate. Based on GLJ's July 1, 2012 forecast prices, the before-tax net present value, discounted at 10%, associated with the Best Estimate of the ECR is $1.25 billion. Given the early stage of development of the resource, it is expected that significant value remains to be unlocked as the resources are converted to reserves.

DPIIP is typically broken down into four components including Cumulative Production, Reserves, Contingent Resources and Unrecoverable DPIIP. The following table presents a breakdown of the DPIIP associated with NuVista's Montney properties into the component categories.


                 Discovered Petroleum Initially-In-Place(1)                 
----------------------------------------------------------------------------
Cumulative Production(2)                                         0.0018 Tcfe
----------------------------------------------------------------------------
Reserves (Proved + Probable)(2)(3)                                0.072 Tcfe
----------------------------------------------------------------------------
Economic Contingent Resources (Best Estimate)(4)(5)                 1.2 Tcfe
----------------------------------------------------------------------------
Unrecoverable DPIIP(6)                                               1.7 Tcf
----------------------------------------------------------------------------
DPIIP (Best Estimate) (7)                                            2.7 Tcf
----------------------------------------------------------------------------
                                                                            
Notes:                                                                      
                                                                            
(1) All estimates of resources and reserves in the above table represent    
    NuVista's gross resources, reserves or production before the deduction  
    of any royalties and without including any royalty interests of NuVista.
(2) The Cumulative Production numbers represent production to September 1,  
    2012 whereas the Proved plus Probable Reserves numbers are as of        
    December 31, 2011. From December 31, 2011 to September 1, 2012, total   
    Cumulative Production from NuVista's Montney properties was             
    approximately 0.0018 Tcfe. For further information regarding the        
    previously reported reserves numbers, see NuVista's Annual Information  
    Form dated March 28, 2012.                                              
(3) The Proved plus Probable Reserves estimate is effective as of December  
    31, 2011 and is based on an independent evaluation by GLJ using January 
    1, 2012 forecast pricing. The Proved Reserves as of December 31, 2011   
    were estimated to be 0.03 Tcfe.                                         
(4) All of NuVista's Contingent Resources from its Montney properties are   
    considered economic using GLJ's July 1, 2012 forecast prices. There is  
    no certainty that it will be commercially viable to produce any portion 
    of the resources.                                                       
(5) The primary contingency which prevents the classification of the ECR as 
    reserves is the current early stage of development. Additional drilling,
    completion, and testing data will be required before NuVista can commit 
    to the development of the ECR. Proven and Probable Reserves are assigned
    to areas in proximity to proven producing Montney wells. ECR's are      
    assigned to areas that extend beyond the limits of Reserves and are     
    interpreted to be less certain. As continued delineation drilling       
    occurs, more ECR are expected to be re-classified as Reserves.          
(6) All of the DPIIP that has not been classified as Cumulative Production, 
    Reserves or Contingent Resources may be considered unrecoverable at this
    time. A portion of the Unrecoverable DPIIP may in the future be         
    determined to be recoverable and reclassified as Contingent Resources or
    reserves as additional technical studies are performed, commercial      
    circumstances change or technological developments occur; the remaining 
    portion may never be recovered due to the physical/chemical constraints 
    represented by subsurface interaction of fluids and reservoir rocks. The
    Unrecoverable DPIIP has been calculated by subtracting Cumulative       
    Production, Proved plus Probable Reserves and Contingent Resources from 
    DPIIP. Since the Proved plus Probable Reserves are estimated as of      
    December 31, 2011 and all other numbers are as of September 1, 2012 the 
    Unrecoverable DPIIP may be greater or less that the number in the above 
    table due to increases or decreases in Proved plus Probable Reserves    
    between December 31, 2011 and September 1, 2012.                        
(7) The sum of Cumulative Production, Reserves, Contingent Resources and    
    Unrecoverable DPIIP do not add to DPIIP as Cumulative Production,       
    Reserves and Contingent Resources have been reduced to marketable sales 
    volumes that have been shrunk to account for surface loss. DPIIP and    
    Unrecoverable DPIIP volumes are in-place volumes that have not been     
    reduced due to surface loss.                                            

An update to NuVista's Montney reserves, which will reflect our active 2012 Montney drilling program will be included within our regular annual reserves disclosure in our 2013 Annual Information Form.

Next Phase of Development

Given the recent dispositions, NuVista has significant flexibility regarding the pace of development as lease expiries can be addressed by the ongoing drilling activity of only one rig. NuVista's next phase of Montney development will consist of moving from one to two drilling rigs with an emphasis on profitability, expiries, access to existing infrastructure and delineation. As previously announced, NuVista has entered into take-or-pay commitments for near term production growth, and continues to pursue alternatives for third-party natural gas processing and transportation for future development phases. With the completion of the five well pilot phase in 2012, NuVista's focus in 2013 will be to move into a consistent development phase while continuing to focus on reducing drilling and completion costs, reducing cycle time, optimizing completion techniques, and securing access to infrastructure for future growth.

As NuVista builds on its momentum on the Montney play, it will continue to focus on disciplined execution, profitability, financial flexibility, and optionality to increase or decrease the pace of growth based on the outlook for commodity prices and cash flow.


----------------------------------------------------------------------------
----------------------------------------------------------------------------
Corporate Highlights                                                        
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                     Three months ended  Nine months ended  
                                          September 30,       September 30, 
                                         2012      2011      2012      2011 
----------------------------------------------------------------------------
Financial                                                                   
($ thousands, except per share)                                             
Oil and natural gas revenue            61,678    88,700   193,735   272,656 
Funds from operations(1)               17,187    41,290    59,394   115,552 
  Per basic share                        0.17      0.41      0.60      1.19 
  Per diluted share                      0.17      0.41      0.60      1.19 
Net earnings (loss)                   (47,600)    1,807  (136,158)   14,662 
  Per basic share                       (0.48)     0.02     (1.37)     0.15 
  Per diluted share                     (0.48)     0.02     (1.37)     0.15 
Adjusted net earnings (loss)(1)       (19,692)   (4,235)  (45,257)  (13,896)
  Per basic share                       (0.20)    (0.04)    (0.45)    (0.14)
  Per diluted share                     (0.20)    (0.04)    (0.45)    (0.14)
Total assets                                            1,212,600 1,543,796 
Long-term debt, net of adjusted                                             
 working capital(1)                                       314,242   300,177 
Net capital expenditures               15,776    49,270    87,444   104,046 
Weighted average common shares                                              
 outstanding (thousands):                                                   
  Basic                                99,523    99,513    99,517    96,898 
  Diluted                              99,523    99,513    99,517    96,931 
----------------------------------------------------------------------------
Operating                                                                   
Production                                                                  
  Natural gas (MMcf/d)                  101.8     104.6     101.8     105.2 
  Natural gas liquids (Bbls/d)          3,541     2,885     3,288     2,995 
  Oil (Bbls/d)                          3,435     5,043     3,967     5,105 
    Total oil equivalent               23,936    25,360    24,217    25,640 
Average product prices(2)                                                   
  Natural gas ($/Mcf)                    2.24      3.91      2.20      3.95 
  Natural gas liquids ($/Bbl)           52.90     63.53     57.27     62.83 
  Oil ($/Bbl)                           68.87     70.58     70.75     72.06 
Operating expenses                                                          
  Natural gas and natural gas                                               
   liquids ($/Mcfe)                      1.64      1.61      1.68      1.71 
  Oil ($/Bbl)                           17.93     13.69     16.68     14.71 
    Total oil equivalent ($/Boe)        11.00     10.45     11.14     11.14 
Operating netback ($/Boe)               11.96     21.23     13.00     20.45 
Funds from operations netback                                               
 ($/Boe)(1)                              7.80     17.70      8.95     16.50 
----------------------------------------------------------------------------
Share trading statistics                                                    
  High                                   4.95     10.50      5.90     10.50 
  Low                                    3.57      5.57      2.65      5.57 
  Close                                  4.52      5.72      4.52      5.72 
Average daily volume                  369,816   137,912   333,316   173,333 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
NOTES:                                                                      
                                                                            
(1) Funds from operations, funds from operations per share, funds from      
    operations netback, operating netback, adjusted net earnings and        
    adjusted working capital are not defined by GAAP in Canada and are      
    referred to as non-GAAP measures. Funds from operations are based on    
    cash flow from operating activities as per the statement of cash flows  
    before changes in non-cash working capital and asset retirement         
    expenditures. Funds from operations per share is calculated based on the
    weighted average number of common shares outstanding consistent with the
    calculation of net earnings (loss) per share. Funds from operations     
    netback equals the total of revenues including realized commodity       
    derivative gains/losses less royalties, transportation, operating,      
    general and administrative, restricted stock units, interest expenses   
    and cash taxes calculated on a Boe basis. Adjusted net earnings equals  
    net earnings excluding after tax unrealized gains (losses) on commodity 
    derivatives, impairments and gains (losses) on property divestments.    
    Operating netback equals the total of revenues including realized       
    commodity derivative gains/losses less royalties, transportation and    
    operating expenses calculated on a Boe basis. Adjusted working capital  
    excludes the current portions of the commodity derivative asset or      
    liability, assets held for sale and liabilities associated with assets  
    held for sale. Total Boe is calculated by multiplying the daily         
    production by the number of days in the period. For more details on non-
    GAAP measures, refer to NuVista's "Management's Discussion and          
    Analysis".                                                              
(2) Product prices include realized gains/losses on commodity derivatives.  

2012 and 2013 GUIDANCE

NuVista's average production guidance for 2012 is between 22,000 Boe/d and 22,500 Boe/d with fourth quarter production forecast between 16,500 Boe/d and 17,000 Boe/d. This forecast incorporates the property dispositions that were completed in October 2012. Funds from operations for 2012 are forecast at approximately $70 million based on a forecast AECO natural gas price of $2.47/Mcf, WTI oil price of US$94.00/Bbl and incorporating our price risk management contracts. Capital spending for the year is forecast at approximately $120 million.

For 2013, our Board has approved a first half capital budget of up to $90 million to primarily fund a two drilling rig capital program for the Wapiti Montney play. This capital program is expected to be funded from cash flow, bank debt and property dispositions. The second half 2013 capital budget will be determined based on the outlook for commodity prices, drilling success and well performance. NuVista expects production for the first half of 2013 to remain relatively flat as the Montney production growth from two rigs is forecast to begin in the third quarter of 2013 after spring breakup and the start-up of key new field trunk pipeline tie-ins. NuVista forecasts production for the fourth quarter of 2013 to average approximately 10% higher than fourth quarter 2012 production volumes.

NuVista's landholdings and resources in the condensate-rich Wapiti Montney play provide NuVista with the potential to grow and create significant long-term shareholder value through the phased development of this play. The profitability of this play is expected to improve significantly over time as NuVista reduces drilling costs, optimizes well completions and accesses the lower cost transportation and processing associated with increased economies of scale. Over the next few months, with additional production data from our Wapiti wells and more clarity on the outlook for natural gas prices, we expect to provide more details on our future growth plans beyond the first half of 2013. With a talented and motivated workforce and a business strategy focused on discipline, execution and profitability we look forward to updating you on the progress in this value creation process.

CONSOLIDATED FINANCIAL STATEMENTS AND MD&A

Third quarter 2012 interim consolidated financial statements and notes to the interim consolidated financial statements and Management's Discussion and Analysis for NuVista Energy Ltd. have been filed on SEDAR (www.sedar.com) under NuVista Energy Ltd. and can also be accessed on NuVista's website at www.nuvistaenergy.com.

RESERVES AND RESOURCE DISCLOSURE

The reserves and resources estimates prepared herein have been evaluated by an independent qualified reserves evaluator in accordance with NI 51-101 and the COGE Handbook. The reserves and resources have been categorized accordance with the reserves and resource definitions as set out in the COGE Handbook, which are set out below:

Discovered petroleum initially-in-place or DPIIP is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of discovered petroleum initially-in-place includes Cumulative Production, Reserves, and Contingent Resources; the remainder is categorized as unrecoverable.

Cumulative Production is the cumulative quantity of petroleum that has been recovered at a given date.

Reserves are estimated remaining quantities of petroleum anticipated to be recoverable from known accumulations, as of a given date, based on the analysis of drilling, geological, geophysical, and engineering data; the use of established technology; and specified economic conditions, which are generally accepted as being reasonable. Reserves are further classified according to the level of certainty associated with the estimates and may be sub-classified based on development and production status.

Proved Reserves are those quantities of petroleum, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs and under existing economic conditions, operating methods and government regulations.

Probable Reserves are those additional quantities of petroleum that are less certain to be recovered than Proved Reserves, but which, together with Proved Reserves, are as likely as not to be recovered.

Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include such factors as economic, legal, environmental, political and regulatory matters or a lack of markets. It is also appropriate to classify as Contingent Resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage.

There is no certainty that it will be commercially viable to produce any portion of the Contingent Resources or that any portion of the volumes currently classified as Contingent Resources will be produced. The recovery and resource estimates provided herein are estimates. Actual Contingent Resources (and any volumes that may be classified as Reserves) and future production from such Contingent Resources may be greater than or less than the estimates provided herein.

Economic Contingent Resources are those Contingent Resources that are currently economically recoverable based on specific forecasts of commodity prices and costs.

Unrecoverable Discovered Petroleum Initially-In-Place or Unrecoverable DPIIP is that portion of DPIIP which is estimated, as of a given date, not to be recoverable by future development projects. A portion of these quantities may become recoverable in the future as commercial circumstances change or technological developments occur; the remaining portion may never be recovered due to the physical/chemical constraints represented by subsurface interaction of fluids and reservoir rocks.

Best Estimate of a resource represents the best estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that quantities actually recovered will equal or exceed the best estimate.

ADVISORY REGARDING OIL AND GAS INFORMATION

Throughout this press release the terms Boe (barrels of oil equivalent), MMBoe (millions of barrels of oil equivalent), (Bcfe (billions of cubic feet of gas equivalent) and Ttcfe (trillion of cubic feet of gas equivalent). Such terms may be misleading, particularly if used in isolation. The conversion ratio of six thousand cubic feet per barrel (6 MMcf: 1 Bbl) of natural gas to barrels of oil equivalent and the conversion ratio of 1 barrel per six thousand cubic feet (1 Mbl: 6 Mcf) of barrels of oil to natural gas equivalent is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Any references in this news release to initial or test production rates are useful in confirming the presence of hydrocarbons, however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for NuVista.

ADVISORY REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements, including management's assessment of: NuVista's future strategy, plans, opportunities and operations; the expectations of creating sustainable organic growth and shareholder value from NuVista's properties and opportunities; forecast production; production mix; drilling, development, completion and tie-in plans, costs and results; expectations of future results, including typecurves and well economics; NuVista's planned capital budget; expectations with respect to NuVista's disposition program and its effect on debt levels; targeted debt level; the timing, allocation and efficiency of NuVista's capital program, allocation thereof and the results therefrom; plans to secure access to infrastructure; forecast funds from operations; the source of funding of capital expenditures; the timing of providing additional guidance; NuVista's risk management strategy; expectations regarding future commodity prices and netbacks; and industry conditions. Statements relating to "reserves" and "resources" are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves or resources described exist in the quantities predicted or estimated and that the reserves or resources can be profitably produced in the future.

By their nature, forward-looking statements are based upon certain assumptions and are subject to numerous risks and uncertainties, some of which are beyond NuVista's control, including the impact of general economic conditions, industry conditions, current and future commodity prices, currency and interest rates, anticipated production rates, borrowing, operating and other costs and funds from operations, the timing, allocation and amount of capital expenditures and the results therefrom, anticipated reserves and the imprecision of reserve estimates, the performance of existing wells, the success obtained in drilling new wells, the sufficiency of budgeted capital expenditures in carrying out planned activities, competition from other industry participants, availability of qualified personnel or services and drilling and related equipment, stock market volatility, effects of regulation by governmental agencies including changes in environmental regulations, tax laws and royalties; the ability to access sufficient capital from internal sources and bank and equity markets; and including, without limitation, those risks considered under "Risk Factors" in our Annual Information Form. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. NuVista's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements, or if any of them do so, what benefits NuVista will derive therefrom. NuVista disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:
NuVista Energy Ltd.
Jonathan A. Wright
President and CEO
(403) 538-8501

NuVista Energy Ltd.
Robert F. Froese
VP, Finance and CFO
(403) 538-8530

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...