Weatherford International Plc revealed on July 24 a contract win with a Colombia, South America operator to migrate seven LOWIS sites (3,000 wells) to the company’s ForeSite Production Optimization software platform.
Under the newly signed contract, the company will provide all maintenance and services for the software platform for five years, as well as all technical and production services required to allow production performance management. The contract also provides for migrating the operator’s remaining major and minor fields to ForeSite.
Weatherford’s production optimization technology extends from the wellbore to the point of sale, encompassing asset-management workflows for the life of any well, from natural flow to all forms of artificial lift in addition to hydrocarbon flow in pipelines and surface facilities. ForeSite is the industry’s only enterprise-level production optimization platform.
Previously, the operator utilized LOWIS, a standard well monitoring and lift optimization application. The operator decided to expand its current engagement with Weatherford to also include the company’s industry-leading production optimization technology. Weatherford software has proven itself in some of the most challenging fields around the world as a production optimization platform that empowers producers to realize field-wide intelligence to maximize production. The operator will deploy Weatherford’s ForeSite production optimization technology to transform their data into performance and allow them to monetize that data.
The U.S. oil and gas rig count fell by five to an all-time low of 258 in the week to July 10, according to data from energy services firm Baker Hughes Co.
API recently released the fifth edition of Specification 4F, a manufacturing standard that applies to both onshore and offshore well structures to ensure operational safety and sustainability.
ConocoPhillips reports extended-reach horizontal Niobrara Shale producers in Colorado’s D-J Basin plus Wolfbone Field-Bone Spring wells completed by Occidental Petroleum in Reeves County, Texas, top this week’s drilling activity highlights from around the world.