WellDatabase’s Post

Recently there has been a lot of discussion among those in the oil and gas industry regarding the use of data science in drilling and well interventions. Will data science change the landscape of drilling and well interventions as it is changing other areas of oil and gas?  What do you think? Our experts have a few things to say about this topic, but we want to hear from you. Let us know what you think in the comments and follow us today to learn where we stand on the issue.    To learn more about SUN Specialty Products visit us at https://lnkd.in/ggnTyyXT

Don't get robbed by oil and gas data providers! WellDatabase is here to save your pockets with plans that won't break the bank or sacrifice quality. Watch for daily posts this week and we'll show you how to keep your hard-earned cash. WellDatabase combines North American public oil and gas data into one platform, providing analytical tools and exports for making quick and informed decisions. #data #oilandgas

The global oil and gas industry generates vast amounts of technical data, which can be challenging to interpret and utilize effectively across different business units. XNSTATPIPE's mission is to transform this complexity into clarity, providing businesses with BI strategies that facilitate deeper insights into assets health and performance, clearly identifying anomalies and driving actions with custom alerting. At XNSTATPIPE, we are dedicated to helping businesses upskill employees and unlock the full potential of their data. Based on client's requirements, we provide custom visualization and dashboarding solutions fit for purpose and deployable through the life of oil and gas wells - contextualizing complex multibarrier corrosion data in unique channels that connect different business units, from Drilling to Procurement (material selection) to Executive Management, allowing for enhanced integrated planning and performance management - a vital feed for improved collaboration and communication solutions. To learn more, email us at:  info@xnstatpipe.com.ng #wellintegrity #oilandgas #businessintelligence

The Future of Oilfield Operations: Business Intelligence for a Connected Ecosystem Empowering smarter decision-making and optimizing efficiency, Business Intelligence (BI) is transforming the oil and gas industry. At BSL, we're at the forefront, leveraging the power of BI to connect your operations and maximize productivity. Learn more: https://rb.gy/7cxeiy   #Oilfield #BI #ConnectedFuture #OilAndGas #BusinessIntelligence

Unlocking Oil & Gas Profits: 3 Must-Have Elements for a Winning Price Benchmark System A top-notch pricing benchmark system for oil and gas producers hinges on three key components: • Data powerhouse: Build a robust data collection engine that captures current and historical pricing across Texas. This should cover various regions, products, and timeframes, offering a comprehensive view of market dynamics. Include regional comparisons and product-specific breakdowns to provide granular insights that drive informed decision-making. • Smart analysis toolkit: Equip your system with powerful analytical tools that transform raw data into actionable intelligence. Feature interactive dashboards and benchmark comparisons against industry standards like WTI crude. Leverage targeted analyses to spot pricing anomalies and opportunities, while enabling scenario modeling for strategy testing. Integrate market intelligence features to give users a 360-degree view of the competitive landscape. • User-friendly command center: Design an intuitive interface that makes data access, visualization, and reporting a breeze. Offer flexible data export options. Enable custom report generation and set up smart alerts for significant market shifts. Support users with comprehensive training resources, regular market reports, and educational webinars to maximize the system's value.

If you are in oil and gas and use well data you should definitely take a look at our new platform that we’ve been working on the past 18 months. It’s a true game changer and our proudest offering yet! Energy Domain

"Matt, I don't even know how I'm selling my oil and gas" he said after his first day. A friend of mine took a VP Marketing job at a medium-sized oil producer a few years ago. Nobody knew where their midstream contracts were. Never mind having the terms and data organized in a way to use them and reconcile contracts to invoices. Some version of that problem is very common, we have found. Upstream oil and gas is as much about selling the products as it is about extracting the products. "I don't know how if I'm being paid correctly" is a problem we're addressing with machine learning, contracts analysis, and data insight. Webcast link below. AEGIS leaders Max Gagliardi and Mark Edge will show how we solve the first part of the problem through data management. At the end, you'll know how to use settlement statements and midstream contracts to know how much your product stream is worth and whether you're receiving what you're owed. https://lnkd.in/gNX_FfNW   This is a 3-Part series.  Part 1 is Thursday 6/6 at 2pm CT Part 2 is Thursday 6/13 at 2pm CT Part 3 is Thursday 6/20 at 2pm CT

How do you decide whether to develop a petroleum property or not? It was observed that numerous simplifications are still used in the oil and gas industry when making decisions, which can lead to erroneous decisions in complex designs and losses of millions of dollars. In the figure below, the joint evaluations of the possible contracts of the National Oil Company (NOC) and International Oil Company (IOC) for developing an oil field have been plotted. From the figure, we can identify those contracts (it could reach hundreds of contracts) on the efficiency frontier and identify those that are extremely efficient. To get the best contract, you have to have good skills to design and analyze your contract score template. The problem is that the best contract you get may not be a favorable one for the other party. This situation is known as a conflict of interest. To find an equitable contract, both parties, the NOC and the IOC, need to design a contract score template to be evaluated by using Maxi-Min and Nash solutions to get a fair contract. Not yet; the final decision required another two steps. Firstly, an economic model to evaluate the profitability indicators must be created. Secondly, risk analysis must be done using stochastic simulation to reach a final decision about whether to develop the field or not.