Over the last 80 years, the oil and gas industry has evolved into a high-risk game. Today it’s funded by private investors and private equity with a high hurdle for returns. Drilling costs between $7 and $12 million per well, so if a mistake is made, it’s a seven-figure mistake. Companies like Enertel—that provide tools, data-driven insights, and strategic advice for clients ranging from oil and gas companies and private equity lenders to hedge funds—make sure that if a well is going to be drilled, uncertainty can be greatly reduced with predictive insights.
Enertel implemented TIBCO Spotfire® software to take disparate geospatial data and apply machine learning and other analytics to drive insight. The software enables the company to connect a variety of data sources and dive deeper to help make investable decisions. And Spotfire analytics is the foundation for Enertel’s custom-built tool for oil and gas, Quantum. Offering industry-leading engineering workflows coupled with advanced financial modeling, Quantum efficiently screens, evaluates, and models any upstream asset in minutes. It’s the only oil & gas solution that enables full production and economic evaluation from a single well to an entire basin.
“We can integrate all other tools and really drive down to spark investable decisions very, very quickly for a lot of our clients,” said Jonathan Henderson, chief analytics officer at Enertel.
For more on Enertel’s transformation, read the full case study and listen to the podcast. Then, learn about TIBCO’s solutions for the energy industry and how your company can benefit.