Hunt Oil strikes it rich with smart IoT drilling
In the oil and gas industry, the role of data cannot be underestimated. It is crucial to make data-driven decisions and aid in predictive maintenance of well machinery. But for Hunt Oil, a private oil and gas exploration and production company headquartered in Dallas, Texas, getting insights from the deluge of data was a challenge. The company suffered from out-of-date data insights; inflexible, vendor-supplied applications; and lack of agility. It needed a faster solution to extract information from applications to gain applicable insights.
The company turned to Spotfire® to enable its Smart IoT Drilling System with Spotfire® Streaming. This software provided Hunt Oil with a single, real-time view of analyses.
With its Smart IoT Drilling System in place, Hunt Oil reduced the time needed to spot patterns in new data, taking only seconds to discover insights. Its development time also decreased, taking only weeks as opposed to months.
Hunt Oil saw a number of benefits from the new system smart drilling system, including:
- Analyzing downhole, bit assembly, hydraulic, and pump data with Spotfire Data Streams software to “query the future” for conditions that could lead to failure
- Enabling the engineering team to go from idea to testing its smart IoT drilling system in less than six weeks
- Developing easy-to-understand models and push them to Spotfire® X software for visualization and analysis, evolving as conditions change
To learn more about how oil and gas companies like Hunt Oil use Spotfire, head here.