May 4, 2018
As software technology advances, so do the expectations for reporting and drilling analysis. Operators continue to develop more sophisticated ways to monitor drilling performance, through benchmarking, performance dashboards, KPIs tracking, technical-limit research, and optimization planning.
But as with many evolving processes, work is often being done in isolation both within companies and across the industry. Different groups rely on different data, different data sources, different benchmarks, and different report formats. The result is an inconsistent process that makes it harder to present objective, unbiased results, or spot broader trends and opportunities across the industry.
As purveyors of oil and gas data-driven research and analysis solutions, XI Technologies has observed three broad types of barriers that can impact the effectiveness of drilling program evaluation.
The first barrier is the varied and changing expectations and metrics requested by stakeholder groups – from executive management to operations and shareholders. Traditional reporting and analysis methods make it hard to satisfy these expectations. The sheer volume of data can be daunting without the right tools. Big data and digitization of drilling information promise to satisfy these varied interests.
Second, while ‘information’ may be widely accessible, Drilling Engineers are often left scavenging multiple data sources, often provided in different formats, and with varying degrees of reliability. The task of gathering sufficient data is challenging enough – blending it and making it all work for you is a whole other story!
The third and most pressing barrier in today’s Canadian oil and gas industry is limited time and people resources. Drilling departments and Drilling Engineering firms are working with smaller teams, making do with less. Available staff, tools, and expertise are finite commodities. Data Technicians (for data gathering) and Optimization Engineers (for analysis) simply don’t exist in most drilling departments anymore. Instead of concentrating on other value-adding work, Drilling Engineers are taking on both these tasks. At the same time, while data is more plentiful, knowing how to leverage it is essential. Experienced drilling experts who are fluent in data and analysis can be hard to come by.
XI Technologies has assembled the Canadian industry’s largest digital drilling database (TourXchange), along with a purpose-built set of software tools (Offset Analyst) to help you overcome the three main barriers to drill program evaluation.
Diverse Expectations & Metrics: The searching, filtering, and dashboard visualization capabilities of Offset Analyst are designed to satisfy the reporting and metrics needs of your key stakeholders – or at least give you easy access to the data that will.
Data Limitations & Inconsistencies: XI pulls vast amounts of data from regulator databases, adding to the TourXchange every month. We also perform quality checks, data scrubbing, formatting, and other enhancements to improve consistency for all users.
Limited Time and People Resources: Using XI’s drilling data and analysis solution, Offset Analyst, significantly reduces the manpower and time required to do high-level drilling analysis and drill planning. Some clients have testified that Offset Analyst cut their drilling research time by as much as 80 percent.