Cold Bore Technology Inc., a leader in completion optimization technology, on June 23 revealed the results from a partnership with Permian-based oil and gas producer, Hibernia Resources.
After implementation of Cold Bore Technology’s SmartPAD—the industry’s first platform able to deliver real-time, sensor-driven tracking of ultra high-resolution fracking operations data with analytics—Hibernia recorded gains in several key areas.
The gains include increased efficiency in well switch times resulting in an $80,000 saving in 56 days; increased visibility across service company operations allowing for $30,000 to be reclaimed in previously invisible lost time; improved onsite safety and reduction in preventable hardware damage through sensor-driven valve and well pressure monitoring; and remote accessibility to real-time high-resolution operations data.
“SmartPAD has given us the ability to improve our operations across the board,” John Blevins, COO at Hibernia, said. “Having access to a real-time dashboard of high-resolution data has allowed us not only to track, trace and reclaim lost time that had previously been all-but-invisible, but also enable us to constantly monitor the status of our wells to ensure our hardware is performing as it should and our teams are safe.”
Using a combination of valve positioning, pressure monitoring sensors, field data collection systems and a proprietary state detection algorithm, the SmartPAD is able to fully digitize completions operations and connect control-automation systems from multiple vendors.
“An increasing number of service companies involved in our industry are going digital. This is a step forward but ultimately it still doesn’t offer producers a single source of truth around what is happening on their sites. What we’ve created with the SmartPAD is effectively a central nervous system able to ingest every piece of data created by every company on a site and consolidate it into a format that suits the producer and gives them the insight they need to make critical decisions,” Brett Chell, President at Cold Bore Technology, said.
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