Service Helps Drilling Engineers Increase Efficiencies
IHS has launched an operator-only membership service designed to provide oil and gas operators — and their drilling engineering teams — with current and historical drilling data as well as the performance benchmarking analysis derived from that data.
Benchmarking analysis is essential to an operator’s ability to assess their performance in a particular US play as compared to other operators, and to achieve operational efficiencies in their drilling program. However, it is often a costly, time-consuming process, IHS says.
The IHS Drilling and Completions Solution is organized into four regions of coverage that model the organizational structure of many operators, including the Rocky Mountain/West group, the Midcontinent Southeast group, the Northeast group, and the Gulf of Mexico group. This product employs a data analysis software tool that integrates two existing services: IHS Offset Drilling Data and IHS Drilling Performance Benchmarking. The product’s database includes more than 26,000 historical, public offset well records with detailed, quality-controlled, drilling data (mud, chemicals, BHA) and operational event information.
The converged data accounts for more than 9,000 operator-provided performance benchmarked wells. In addition to performing “well-to-well” benchmarking, the IHS offering enables operators to assess “operator-to-operator” performance as well as “operator-to-industry” performance.
With the converged tool set from IHS, planning, design and improved AFE (authorization for expenditure) analysis can be accomplished in hours instead of weeks, the company says. IHS now performs all the capture of drilling data and events for operators and makes the analyses available through their internal business intelligence tool set by a simple download.
The company says the new service is helpful to both new entrants into plays and to play veterans seeking to assess their technical limits within the play. For example, operators in the Permian, Eagle Ford and Gulf of Mexico have used IHS Offset Drilling and Performance Benchmarking for several years to improve the drilling pre-planning and design process while reducing costly down-time through the look-back analysis and the identification of geological trouble areas and potential hazards.
Energy Manager News
- ERC: Price Benchmark Trends Week Ending April 29, 2016
- There’s Nothing More Sacred Than Coal in Coal Country. Ask Hillary Clinton
- Xcel Energy Files to Refund $15M to Colorado Electric Customers
- New Retail Marketplace, MassEnergyRates.com, Launches in the Bay State
- Will Utilities Lease Rooftops of Commercial Buildings for Solar Power Generation?
- Price of Carbon Credits Rises In Europe, Which is a Good Thing
- SCTE, ISBE Join Villanova’s RISE Forum
- Unico Using EnerNOC Platform