Instantly Quantify Risk and Reward for your next Asset Acquisition
As forecasting becomes more complex in the oil and gas industry, companies are pressed to find new processes and technologies to capture and manage new kinds of information. Moreover, they must learn how to transform disparate data sets into actionable insights to verify values, predict yields and enhance safety and environmental protections. Geospatial analytics in the cloud is now a viable option.
From overload to insight: To stay ahead of the competition, you need to make faster, smarter decisions. When deciding if an asset is worth pursuing, it is important to be able to quickly connect disparate data sets, quantify risk and reward, verify the accuracy of performance projections, and visualize trends. You need it NOW – to take advantage of opportunities before the competition has a chance to act. A new dynamic geospatial analytics platform is now available. It allows you to make a go/no go decision in a fraction of the time previously required, and with greater confidence.
Integrate information on one map
Thanks to PetroDE, a dynamic geospatial analytics platform, you can build a project in a fraction of the time. Multiple layers from disparate data sources can be searched and analyzed – all on one map. PetroDE, developed by Vesmir, Inc. easily integrates ALL your available data, including information such as
- Subscription Data
- Geologic features
- Geographic Outlines
- Established Nearby Plays
- Public Land Restrictions
- Proprietary Data Layers
PetroDE’s patented technology allows you to search any field within your data and instantly see the results on a map, regardless of the size of the data layer. Our many display options allow you to quickly visualize opportunities, including bubble maps, heat maps, symbols and labels. Refinement tools allow you to restrict the search to any field, and our dynamic tools allow you to see what has changed since the last data update.
Figure 1 demonstrates how the tools in PetroDE are used to integrate data and add pertinent information to the map for an asset of interest.
In Figure 2, a public data layer, US Sedimentary Basins, has been added to the map. PetroDE offers many public data layers such as US Sedimentary Basins, the National Oil and Gas Assessment 1995 study, Federal and Indian Lands, EIA contours, etc. We simplify your workflow with the ability to add any public shapefile or database file and search it with PetroDE’s intuitive search technology.
Search and analyze multiple subscription data layers
PetroDE has the ability to easily search and analyze all of your subscription data layers. Moreover, our intuitive search technology automatically monitors, searches, extracts, and dynamically maps the latest data. No time is wasted searching for the most current data and every discipline has access to the most critical data for their area of expertise. PetroDE is the only application with the ability to search multiple datasets simultaneously.
Figure 3 shows a search in the IHS dataset for the Mancos and Gallup Formations. The result appeared in 6 seconds.
Integrate proprietary information
PetroDE makes it easy to view your proprietary data layers for an acquisition together with data for similar analogous areas. Figure 4 is an example showing EIA data of the Delaware Basin and Bone Spring play (public data) together with proprietary data that includes tops, test data, calculated EURs and contours of heat flows. Wow – all in one place!
Quantify risk and reward with geospatial analytics
When deciding whether a new play is worth pursuing or a location is worth drilling, extensive analytics are required to make an accurate assessment. Our secure, cloud-based technology allows team members to quickly access required data for an area of interest, assess value and risk, and collaborate with experts around the world.
PetroDE makes asset valuation easy with statistics, charts, presentation-ready displays and downloadable data. Assess valuation and risk at the click of a button for custom and multiple areas of interest. A full play valuation suite including statistically derived decline curves provides a more accurate picture of the past history and future potential of an area.
For example, PetroDE’s time series charts provide instant insight into an area of interest. Calculate decline projections using the Arps or SE equation and use our quantile regression to get the best fit curves. The decline projection curves in Figure 5 were generated in 19 seconds. Q0 is the initial rate, b is the hyperbolic exponent that controls the shape of the curve, and D is the decline. Q0 is in mcf/day. The red P10 curve shows the value where 10 percent of the outcomes (or values) are greater than this value. The green P90 curve shows the value where 90 percent of the outcomes are greater than this value.
Accurately calculate performance projection
The decision to pursue an asset requires accurate information from analytics that can sometimes take weeks to acquire. PetroDE has the ability to instantly and accurately calculate estimated 30-year EUR projections for any area of interest. The chart in Figure 6 was generated in 16 seconds and shows the calculated mean line for Liquid, Gas, and Water plus an estimated 30-year EUR for each. This makes it easy to make the go / no go decision for any acquisition of interest.
Share geospatial analytics in real time
Communication with key personnel is vital when deciding whether or not to pursue a new acquisition. PetroDE’s patented technology allows you to quickly access and share search results and analytics anytime, no matter your location in the world. Transform your meetings from static PowerPoint and hard copy presentations to interactive decision-making sessions based on real-time data, inquires, and analyses. With PetroDE, your team will make accurate, informed decisions with up-to-date information, while the competition is still building their project.
Traditional method vs PetroDE
Traditional methods for assessing a new acquisition can take weeks. Projects are built with set boundaries from many separate data sources and then a separate analysis is performed on each area of interest. More time may be required to compare the results with an analogous area half a continent away in yet another project.
With PetroDE, you can search preloaded subscription data together with all of your proprietary data and public data on one map. You can then perform analytics on any area of interest in a matter of seconds. Our dynamic maps mean there are no set boundaries and as information changes, adjustments are made instantly. With continuously updated data, you no longer have to reload your project when new information becomes available. Plus, PetroDE’s patented cloud technology allows you to collaborate with experts around the world and instantly share accurate, up-date results in real time.
Summary
Decisions are made in a fraction of the time previously required when using PetroDE. Our patented cloud technology creates a dynamic geospatial decision environment that empowers your team to make faster, better informed decisions.
No other software allows your team to interact with all of your licensed and proprietary data in one place. We create the optimal geospatial analytics platform for your company by customizing solutions for your specific workflows and processes.
PetroDE provides access to information so fast that it can be used real-time in meetings. Use it to answer those “what if” questions on the fly and shave days or even weeks off your workflow.
- quickly IDENTIFY play hot-spots and generate statistical analyses,
- easily QUANTIFY oil & gas activity and productivity,
- securely COLLABORATE around the globe using shared maps & charts.
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