The State of Analytics

The idea to digitize the oil and gas industry is no longer an idea - it is reality. The industry now has endless amounts of sensors to generate real time data and an abundance of platforms that can house this data within each vertical of the industry. Although drilling may be a short stint within the overall lifetime of a well, the amount of data that is now being generated from each well is endless. To make the most informed decisions for future drilling operations and real time adjustments, it is pertinent to make this data accessible and usable for field personnel, engineers, and managers alike.

Searching through datasets to identify outliers or diving deep into KPI once took take days if not weeks to do, and then there was the added time to visualize the results and package them to present to management or DDs to prove a point. Now this process has been streamlined with real time drilling analytics platforms. Analytics platforms have made the accumulation of data seamless and have given countless hours back to engineers by eliminating data cleaning and visualization.

Industry Standard Analytics

In the most recent Darcy event, Drilling Analytics and Beyond, we discussed the multiple platforms that visualize drilling data and innovators' continual efforts to add value with additional features like directional drilling modules, anti-collision, and automated reporting. Optimizing the drilling process is a continuous goal as everyone seeks to increase ROP, maximize EUR, and minimize down time. The three legs of drilling optimization (local, system, and process optimization) have been a common theme within the drilling content here at Darcy. While evaluating many of the providers within this space, it is apparent that there is not a one-size-fits-all on the quest for optimization.

During the analytics event, a poll was released asking participants to list the analytics platforms that were currently being used or piloted by their respective companies. It was no surprise that there was a large group of participants that are currently using Corva, as it well knows that they have been a major player in this space. The data point that requires some reflection is the nearly 40% that indicated that they are using in house solutions.

Custom Developed Analytics

The question at hand is, what is the draw for operators to undergo this development? Is it a cost savings function or purely the ability to curate unique solutions that match company workflows and needs? There was no definitive answer to these question at this week’s event, but as innovators like Corva and AI Driller continue to push the limits with the features that are offered on their platforms and as well as new innovators entering the market, it will prove difficult for in house developments can truly compete. At one-point, analytics were all about visualizing data to help tell a story, but now it is much more than that, and this is what will make it difficult for operators to keep up with innovators. As these innovators have continued to progress, they are now including functionalities like advisory systems, automated reporting, and even anti-collision in some cases.

Darcy members can view the full version of this innovator comparison by here

Ideal Analytics

Not every data set holds the same value, but any data that is being used is more valuable than one that is not. This week the Darcy audience was polled on the most important features when it comes to drilling analytics. Of the participants that answered, over half stated that the ease of use was the most important or second most important feature for an analytics platform. The only other feature that ranks relatively close is data latency.

It is not ironic that these are the two features that rank the highest from this poll. Throughout the preparation for the analytics forum, these were two common themes when it came to operators comparing one platform to another. The platforms that were seamless to navigate and were able to quickly aggregate the correct data were always the preferred vendor for the job. When it truly comes down to these analytics platforms, the bells and whistles won’t gain much attention if the simple functions can’t be met first and foremost.

If you were unable to attend the Darcy Live event, Drilling Analytics & Beyond w/ AI Driller, go give it a listen here. The event gives more insight on the drilling analytics space and highlights the deployments that AI Driller has mad in the past few years.