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With the increase of data in the oil and gas industry the level of financial dynamism in this sector is fast growing to a tipping point. The survivor of the oil and gas industrialist depends upon the way how they are picking up their data and getting insights from this data.
In 2017 the oil and gas industry begins to plan CAPEX around the perceived stability of $60-65 WTI oil and $4 gas. With CAPEX the identification of the winners and losers in the upstream sectors is not challengingly complex. OPEX is also helping vendors to get better returns.
What matter a lot in the drilling process is effective Oil and Gas Analytics Solutions?
To get key takeaways the data need to be accurate and support the drilling process with effective production and with less cost. In this article I want to clear some strategies in new oil production technologies, where Big Data analytics solutions can take you to another edge. Some question you need to answer by reviewing your business strategy
- How you are modeling the NPV for DUC( Drilled but Uncompleted )wells?
- What are the important drilling capital commitments to operate the drilling?
- What are average capital commitments blocks to reduce massive sunk cost ?
- Are you determining the reserve base of a organization’s operations in effective way?
- How you are modeling cash flow from these reserves?
- Are you able to decline these reserves and discount it?
All above given question seemed the context evaluation and static but when offset operator drill large more deep than your expected production reserves base and complete new formation with an IP of 1600 BOPD and 1000 MCFGD then it will definitely effect your bid price.
Alrasmyat is helping you to get better data insights with the use of BI solutions and Oil and Gas analytics solutions. With the use of innovative technologies and 10 years of experience in this field Alrasmyat is the first choice of oil and gas industrialist in Saudi Arabia.