Did you know Spotfire partners with the top 20 leading oil and gas companies in the world? Whether the focus is exploration and extraction, transportation and storage, or refining and delivery, Spotfire analytics can help organizations work smarter in all that they do.
Spotfire helps organizations in the energy sector meet their core business objectives and deliver better product outcomes. It enables engineers, geologists, and operators to apply the latest techniques in data analysis to increase yield, monitor production, and determine where to make investment decisions.
Upstream portfolio resilience
Analytics plays a crucial role in enhancing upstream portfolio resilience by providing insights into production, reserves, and market dynamics. For upstream, maintaining well integrity and conducting hydraulic fracturing completion surveys are important for energy organizations to evaluate the conditions of formations, prevent failures, and optimize business operations.
In the absence of advanced analytics and machine learning, today’s integrated energy providers expose themselves to increased environmental risks and compliance issues without having the data visibility to make informed decisions and meet regulatory requirements. This is where Spotfire can help.
Spotfire offers real-time monitoring and predictive analytics, helping detect issues early and prevent failures. Its visualization tools simplify complex data, aiding in informed decision-making and risk management. Python & R scripting, native to Spotfire, can be used to estimate and analyze pressure data. Users can interact with these calculation routines using no-code, interactive visualizations and controls to test different scenarios giving insight into the overall health and productivity of operations.
Overall, analytics in hydrofracking completion surveys and well integrity can help operators make informed decisions that ultimately aid those organizations in achieving their strategic goals to deliver low-carbon solutions, deliver high-value products with differentiated performance, and assure asset integrity and resilience.
Lowering carbon intensity
Using data and advanced analytics reduces the carbon footprint of operations and products. Many energy organizations are using carbon intensity (CI) as a key reporting metric to determine carbon and climate performance and make more informed choices. Many factors need to be considered when organizations are looking to reduce carbon intensity.
Rate of penetration
Rate of penetration (ROP) optimization using dynamic time warping (DTW) can play a key role in lowering carbon intensity by optimizing drilling operations, reducing downtime, and minimizing waste. In a carbon reduction strategy, it’s important to understand that while ROP optimization can contribute to lowering carbon intensity, it is just one of the factors that need to be reviewed.
Anomaly detection
Anomaly detection is another key focus for energy organizations. Identifying and recognizing energy consumption anomalies and usage patterns is pivotal to addressing inefficiencies. Spotfire data and advanced analytics capabilities assist in this regard by providing insights into energy consumption trends and enabling the development of proactive strategies to address inefficiencies.
Process and production control
Process and production control is vital for enhancing productivity, optimizing performance, and reducing operating costs. Spotfire data visualization and analytics capabilities are instrumental in identifying areas for improvement, streamlining processes, and enhancing overall operational efficiency—contributing to carbon intensity reduction efforts.
Digital innovation and product analytics
Leveraging digital technologies and advanced analytics to improve products, operations, and customer experiences is pivotal. Optimum well placement (OWP) is a process used in the oil and gas industry to determine the most advantageous location for a new well within a reservoir, considering factors such as reservoir characteristics, geology, and production targets.
The goal of OWP is to maximize the recovery of hydrocarbons from the reservoir while minimizing drilling and production costs. Using Spotfire analytics, geoscientists and engineers can understand the effect of a variety of technical parameters and combinations that may impact oil and gas production and recovery. To reach this understanding, they need to know more about the wells, the subsurface, and the efficacy of different completion and recovery techniques. This means collecting and analyzing more data than ever before (structured and unstructured) from a wide range of sources, and bringing it together so it can be interrogated to identify patterns, trends, and outliers to reliably optimize the placement of wells across one or more oil fields.
Advanced energy analytics at your fingertips with Spotfire
Today’s energy organizations simply cannot improve their margins, grow their profits, or outperform their industry peers without leveraging data. Interested in learning how Spotfire empowers energy leaders like you? Check out our solution page to discover more today.
