Cloud-native analytics software for reliable reservoir opportunity identification
Emerson has released SpeedWise Reservoir Opportunity, a fully automated, cloud-native reservoir analytics tool developed in collaboration with Quantum Reservoir Impact. The software is unique in how it applies advanced algorithms, data mining and workflow automation to cut the amount of work required to identify field development opportunities from months to weeks. The comprehensive technology helps oil and gas companies achieve greater return on investment by shortening decision-making cycles and delivering better risk management. It features automated geoengineering workflows for identifying and ranking recompletion, vertical sweet spots and horizontal wells. By analyzing historical field performance and benchmarking against analog assets, the flexible framework picks the optimal parameters for the identification process, tailored to address the unique geological and engineering challenges posed by each field. Using SpeedWise Reservoir Opportunity, reservoir teams can break down multidisciplinary silos to help mitigate missing and incomplete data for more confident development planning. The software provides a secure cloud-based environment, resulting in much more efficient teamwork, where reservoir teams can collaboratively visualize and analyze ranked opportunities. Once ranked, results can be accessed through an interactive visualization dashboard for collaborative analysis and validation.
ESG measurement tool solves sustainability data problem
Data Gumbo has released GumboNet ESG, a sustainability measurement technology that ties a company’s operational data to ESG standards reporting. The result is real-time verifiable environmental performance monitoring, setting a new bar for transparency to satisfy investors, regulators and other stakeholders’ desire for faster and better environmental impact data. GumboNet ESG utilizes the Sustainability Accounting Standards Board (SASB) framework with a specific smart contract to create automated ESG reports. Monitoring ESG measurement consumes human capital, time and financial resources without the guarantee of accuracy or repeatability. GumboNet ESG allows companies to automate reporting with the promise of accurate measurements from the field, simplifying historically inaccurate self-reporting practices and supporting standardization in accordance with SASB standards.
New service for well optimization benchmark
Ambyint has released a new service that gives E&P companies clear visibility into the relative impacts of their well optimization strategies and practices. The service benchmarks companies against the rest of the industry providing metrics and operational road map recommendations to improve bottom-line results. The Ambyint Well Optimization Assessment service is a four- to six-week engagement with E&P operations teams that reviews operational performance focusing on artificial lift optimization, work prioritization, well reliability, workflows, data utilization, reporting and performance metrics. These data feed an assessment report containing baseline data analysis supported with interviews, workflow value maps and a data systems framework to provide customers with essential insights that inform operational and digitalization strategies.
New user experience provides faster access to real-time information
Datagration’s PetroVisor Knowledge Automation platform for oil and gas companies now has a new, intuitive user experience. The modern web interface provides users with easier and faster access to the critical real-time information they need to make better business decisions whether they are operating in the cloud, on-premise or utilizing hybrid environments. The new user experience is a natural addition to PetroVisor platform, which solves the “too much data, too little time” problem that plagues oil and gas operators. It delivers automated engineering workflows in real time to improve engineering and investment decisions, such as operational and capital efficiency. With this enhanced user experience, users can access more information faster without in-depth training and enjoy the benefits of a seamless experience. Some other new features and improvements include advanced 3D mapping.
These features make PetroVisor a comprehensive, collaborative environment for aggregating and analyzing data. With its user-defined workflows, users can connect people, systems and data with complete visibility to the end-to-end process—improving organizational and cross-domain workflows, automating technical and business processes, and mitigating risk—all on a unified platform.
National digitalization project to promote E&P potential
The Egyptian Ministry of Petroleum and Schlumberger have launched the Egypt Upstream Gateway, a project for the digitalization of subsurface information. This digital platform will also enable global access to the country’s subsurface data, which is kept evergreen by enhancing legacy datasets through reprocessing and new studies. This digital initiative will be used to unlock the potential of Egypt’s petroleum sector and promote the country’s E&P potential worldwide. The Egypt Upstream Gateway provides digital access to more than 100 years’ worth of accumulated national onshore and offshore seismic, non-seismic, well log, production and additional subsurface data under a single platform. These data, which empower de-risked decisions through the ability to explore multiple basins and evergreen data, can be accessed virtually from anywhere using the platform’s online portal. In addition, the Egypt Upstream Gateway will host Egypt’s upcoming bid round highlighting lease availability information to national and international investors worldwide.
Enhanced project management software provides intelligent solution
InEight Inc. announced enhancements to its planning, scheduling and risk offering to deliver an intelligent and multidimensional planning solution for capital projects. New InEight capabilities for total project risk management include Multiple Risk Mitigation Assignments and Tracking, which completes the cost schedule risk assessment and fills the gap between identifying threats and taking the right corrective measures by using artificial intelligence to intelligently recommend mitigation actions with the highest probability of success. In addition, Enhanced Risk Register allows better management of threats and opportunities with advanced categorization, tracking and analysis of risk across multiple projects and promotion of risk items previous to current projects. Moreover, InEight’s Cost Risk integrates risk from two key pillars of project controls—cost and schedule—to provide total project risk analysis. If a schedule takes longer, it is likely to cost more. Breaking the silo between two critical aspects of a capital project can help reduce added costs.
Cloud-ready reservoir characterization technology to improve usability
CGG GeoSoftware has released new versions of its cloud-ready reservoir characterization and petrophysical interpretation software with enhancements that boost performance and improve usability. Jason Workbench 10.2 offers enhanced display options, upgraded QCs and monitoring, and more user-friendly interfaces. The Python machine learning ecosystem contains additional basic and advanced sample scripts and Jupyter notebooks, making it easier for clients to build their own workflows. Optimizing performance continues to be prioritized, particularly within its geostatistical reservoir characterization technology. The new features and functionality of HampsonRussell 10.6 include an interactive radon analyzer, an amplitude-versus-offset interpretation crossplot template and improved convenience in retrieving inversion models, greater parameter flexibility and a new inversion algorithm. PowerLog 10.2 for petrophysical interpretation offers improvements in handling Big Data, performance enhancements and data preparation automation for patching curves. A complete automated log editing workflow is available through a collection of modules, which includes Outlier Detection, Log Patching and Synthetic Curve Generation. As a critical part of PowerLog’s workflow, Outlier Detection enables users to detect data spikes and anomalies and then replace bad data with patches or synthetic curves. The resulting high-quality curve data are essential in generating accurate interpretations, pore pressure predictions and for use in seismic inverse modeling.
Capabilities in the rock physics software also have been enriched with new rock physics models, regression, curve fitting and an enhanced interface. InsightEarth 3.6 now has new features, including the recently announced WellPath interactive well path planning technology. The WellPath QuickPlan workflow automates planning for large multiwell pads or platforms and builds all well plans simultaneously.
Editor’s note: The copy herein is compiled from press releases and product announcements from service companies and does not reflect the opinions of Hart Energy. Submit your company’s updates related to new technology products and services to Faiza Rizvi at email@example.com.
Second-half 2019 results show glimmer of hope for a promising 2020. This section profiles 43 major U.S. shale players operating in the Permian, Eagle Ford, Rockies, Midcontinent and Appalachia and covers their latest 2019 production results and 2020 forecasts.
Additionally, Diamondback Energy founders Paul Molnar and Randall Holder will be retiring from the Permian Basin oil and gas company at the end of the first quarter.
Diamondback Energy had initially planned for its Rattler Midstream subsidiary to make its public debut last year but was stopped by tough market conditions thanks to commodity volatility.