In today’s hyper-competitive oil and gas environment, operators are continually being asked to do more with less and achieve results faster than ever before. To reduce costs and mitigate risks, operators need technologies that enhance drilling efficiency and optimize operations across all phases. As a result, digital transformation has become critical to achieve their goals beginning with the ability to analyze and gain insights from drilling data in real time.
Here’s
how real-time data analytics can significantly improve the way
operators manage their entire drilling process.
Go
From Reactive to Proactive
Drilling
accuracy is the name of the game, because missing the target zone by
even a few feet can mean millions in lost revenue. By leveraging
real-time
drilling analytics,
operators can monitor drilling progress and optimize operations to
stay on track to productivity. Put simply, it allows them to go from
reactive to proactive and avoid potential problems that may impede
operations.
Avoid
NPT and Invisible Lost Time
With
real-time drilling analytics, you can monitor drilling operations to
improve performance.
You
have the information needed to address drilling issues before they
happen, saving thousands of dollars by avoiding non-productive time
(NPT) and invisible lost time (ILT) which are both key to improving
operational efficiency and safety.
Increase
Output and Maximize Revenue
Operating
costs play a huge role in your drilling operation’s success. With
wells
getting more complex, it becomes more difficult for companies to run
profitable operations. Real-time
drilling analytics provide an inside look into your processes,
helping to identify ways to increase output, reduce costs, and
maximize revenue. By identifying issues in their preliminary stages,
you can quickly address the problem and reduce the potential of
operations coming to a halt because of a breakdown. Instead of having
a costly failure, only preventive maintenance and minor repairs are
needed.
Make
Better Decisions and Boost Productivity
Effective
real-time decisions made during drilling are critical for delivering
safe, reliable, and efficient wells. However,
drilling processes are challenging to monitor from the surface, but
with the right tools, you can reveal what’s happening inside your
oil wells and troubleshoot problems before they cause significant
productivity issues. The faster you can address concerns, the higher
your productivity will be.
Improve Safety
Workers
in the oil and gas industries face a range of safety challenges.
Real-time analytics identifies and alerts operators of abnormal
situations automatically, keeping employees out of harm’s way.
Bottom
Line Benefits
In
an industry where decisions are moving faster and the stakes are
growing ever higher, oil and gas operators need to improve their
analytics capabilities to successfully compete. Real-time
drilling analytics has become a necessity for a range of important
reasons. It helps deliver increased production by being in the most
productive zone, lowers cost structures, and improves decision making
throughout the entire process. All of which makes real-time drilling
analytics a key driver for drilling a high-quality well on time and
under budget.
Contact
us
to find out how you can implement real-time drilling analytics
solutions into your drilling operations.
