Over the last several years the tech industry has seen the emergence of the API economy resulting in an explosion of innovation. Every notable tech company from Microsoft, to Apple, to Google uses API’s to enrich their products and spur innovation. So what are APIs, and why should the Oil & Gas industry care about them?
API stands for application programming interface. To put it simply it is the modern day Rosetta Stone which allows for applications like the ones you run on your smart phone to easily communicate or “interface” with a pool of data or another application. If you have ever used Yelp reviews in Apple Maps or have been rerouted by Google Maps due to an accident reported by Waze then you have benefited from the power of API’s.
The Oil & Gas industry should care because this innovation engine is now available to them with Drillinginfo’s release of its new API: Direct Access. DI Plus subscribers can now tap into constantly updated proprietary intelligence faster and easier than ever before. This window into Drillinginfo’s intelligence will start with 1.5 million permits spanning 32 states and daily updates on 95% of the U.S. rig fleet. This will grow in 2016 to include wells, completions, production, directionals, and leases.
WHAT WILL YOU BUILD
The real power of Direct Access really comes alive with your creativity. Imagine the opportunities for fast and unique analysis of merged Drillinginfo proprietary data and your internal datasets. Imagine the mobile apps that you will build to make your team more productive and make decisions faster. With each update the possibilities grow and are limited only by your imagination. While competitors waste time seeking updated datasets and spend hours exporting and importing them into their internal warehouse you will be on your way to real business outcomes.
With the fall of oil prices margins are getting thinner and everyone is feeling the pinch, but companies that see this as an opportunity to become more efficient and drive innovation further will be the future leaders of the industry. Direct Access is a new engine for innovation that will transform workflows and empower companies to compete in any priced environment. What will you do with it?
As Thomas Edison said, “There is a way to do it better – find it.”
Learn more about getting started by checking out this demo:
What do you think? Leave a comment below.
The first and second installments of Inside Drillinginfo’s Map Drawers were big hits, so here we go for three. Rather than working from a print map, we decided to leverage some of our current technology and show off what you have access to from DI right now. I asked Senior GIS Supervisor – GIS Strike Force Quanah Berkley a few questions about this map.
Title : Southern Heat – Drillinginfo Heat Map Shows the Hottest Permitting Trends Over the Last 90 Days
What’s the purpose of this map?
This map was made to show off a new GIS layer that can be found on our new platform – DI 2.0. We’ve recently added heat maps for both permitting and leasing activity to give users a high level view of where the hottest action is across the U.S. The map also highlights how well the permit heat maps work with our rig locations data. If one finds a hot permitting area without any rig activity that may be a sign of drilling soon to come.
Which Cartography Group made it?
The GIS Strike Force
Final output is digital; however, the map was made utilizing DI WMS and WFS layers.
Sources of data and how it’s processed?
The GIS Team generates this heat map layer using DI point permit data. The permit locations are processed with the ESRI ArcGIS Kernel Density tool. The hottest areas are a combination of density and proximity of permits to other permits.
Projection/Coordinate System used?
WGS 84 Web Mercator (Auxiliary Sphere) – This is the projection/coordinate system currently used on the new platform DI is building, commonly known as DI 2.0.
This map is meant to be rather straight forward to really let the data be the star. We chose to focus on some of the plays in the Southern United States. Hopefully folks will see this map and want to come to DI 2.0 to see the entire layer along with some other great DI data sets.
Choice of Color Palette and Font(s) and why? Transparencies?
The choice of colors is meant play on the theme of heat and the South. It has bright and bold colors to draw the viewer immediately to this new data set.
Legends/Insets/Annotations/Other elements and why?
All this was kept pretty minimal. The user will find DI Rigs in the legend. However, the heat data speaks for itself.
Why we love it?
We love this map because it really highlights part of what makes the DI 2.0 platform so great. That is the new platform gives us the ability to quickly get new analytical layers and technologies out to our clients. As we innovate here at DI our clients will see the results fast allowing them to make better decisions, faster.
What do you think? Isn’t it great to see such up-to-date data visualized so easily? Leave a comment below.
We here at Drillinginfo are fired-up about winter NAPE. I thought the best way to prepare myself for the expo would be by asking some of our best and brightest a few questions, and assembling their responses into a virtual panel to share with y’all!
No matter what industry you are in, accurate and timely metrics help define the practices that drive the best performers, and what changes are necessary to get or stay on top.
Oil and gas companies live and die by accurate analysis and competitive efficiency. We are constantly poring over MaxIP; 6 mo cums; oil/gas ratios; historic production numbers; geology of the rock in play; who is leasing in the area; what is expiring and when – just to find a point on a map that is undrilled with good potential to maximize the return on invested drilling dollars.
I chatted with some of our analysts, did a little research, and devised three really big questions. I hope you enjoy the responses as much as I do.
Big Question Number One: How Much is Too Much Data?
“Big data” can be confounding, unorganized and biased. How can our clients use metrics to combat these big data problems?
Mark Nibbelink (Co-Founder, Director of University Outreach):
I think that they need to thoroughly understand their database architecture and structure and make sure it’s aligned with their most important goals. Once they’ve gotten that sorted out, flagging data elements of high importance in whatever database table they have will help focus the value of their data. Metrics organized around these high value flagged data elements allow businesses to quickly snapshot both positive and negative trends.
Christopher Smith (Senior Research Analyst):
Drillinginfo builds models to explain production and predict future results. These models utilize vast amounts of data. The data ranges from the traditional to OCR and well log interpretation. We are acutely aware of problems that arise because of biases. We provide clients metrics that prove that our models perform well with out of sample data and don’t suffer from over-fitting.
Bob Black (Director, Global Analytics):
Organizing and normalizing data prior to analysis cannibalizes huge amounts of time before the value added work of drawing conclusions from the data ever begins. DI Analytics attempts to solve this problem by providing cleaned up data sets for 9 major North American shale plays. The improved data sets include permits, leasing, production, and well header data. Our analysts normalize production data by formation, consolidate operator names from various related filings, remove duplicates and counterparts from leasing data, develop true gross acreage positions for operators, and perform additional QC checks to create more accurate data sets ready for analysis. Our objective is to help our clients save time and concentrate on the work that creates the most value for them.
Kevin Thuot (Engineering Research Analyst):
The right metrics allow a company to pull the proverbial needle out of the haystack. The key is to identify what inputs have a causal relationship with the desired outputs. Those are the metrics that need to be tracked – the rest is just noise. Given the complexity of Oil & Gas industry problems, this process will often require multivariate statistical analysis, which can be done efficiently in our Transform software.
Walter Bruce (VP, Technical Business Development):
Transform Multi Variate Statistical Analysis has a Multicollinearly workflow that addresses the abundance of data. This workflow helps our customers take a multitude of data and narrow it down to relevant metrics.
Matt Menchaca (Research Analyst):
Big data isn’t a problem at all, but rather a means to a solution. In a perfect world, the data should be allowed to speak for itself. However, it’s easy to forget about the amount of power behind big data and its influential ability. There should always be checks and balances as to how the data is being prepared, served up, and where it is sourced from. Metrics allow for the integrity of the data to be analyzed in various increments, whether that be time, production volumes, etc. By slicing and dicing big data down into metrics, it allows the analyst to scrutinize over the information in smaller increments providing more clarity.
Big Question Number Two: How Can We See Into the Future?
Standard descriptive analytics merely describe the past. How can our clients use metrics to turn description into prediction to drive future results?
Batch regressions over well-chosen time series should illuminate co-dependencies in the data. Measuring real time data against those regressions should help determine whether corporate performance is diverging from historical behaviors. Early study of these divergent behaviors can lead to new regressions that can be used to predict future performance.
Folks need to understand not only the historical patterns in the data, but also the underlying relationships that caused those patterns. They need to understand causation, whether it’s a geologic deposition that is conducive to high production, or a relationship between well log data and completion techniques. For example, we provide our clients with metrics that explain the impact of well log data on production. This gives our clients a baseline understanding of what volume of production to expect from an asset based on the geologic characteristics. It’s a way to normalize for geology and estimate production. Then we provide them with metrics so they can understand what the important geologic variables are, and what mixture of those variables to look for.
Everyone knows spacing matters in field development. But what are the trends in spacing out in the field by operator within the oil, gas, or wet window of a play? DI Analytics proprietary spacing algorithm can break down this data by operator in convenient and easy to use charts that are updated as the plays mature.
Mark Twain said “History does not repeat itself, but it does rhyme.” By analyzing patterns in previous events you can make predictions about what is likely to happen in the future, even when the future scenario doesn’t have an obvious analog with the past. This gives your firm a head start when a new situation arises: you instantly see the likely course of events while others scramble to evaluate the situation based on their subjective individual experiences.
Transform Multi Variant Statistical Analysis does this. We provide our customers with a statistical answer on the prediction they are trying to make.
It’s as simple as the time old tale of what goes up must come down. Analyzing trends through metrics allows the analyst to see patterns in the data and make decisions based on their expertise of cyclical data pattern and momentum recognition in their field of discipline.
Big Question Number Three: How can Oil and Gas Companies be Certain They’re Up-to-Date?
Unconventional resource technology learning curves can be crippling to an E&P company. How can our clients be sure they are operating with the best practices of 2014 and not 2010?
First order of business is to assess the geological quality (TOC, net thickness of unconventional targets, fracability measures like Poisson’s ratio , Young’s modulus, areal extent of high quality target sections, etc. etc.) of both acquired acreage and potential lease acreage. Once this is done companies then have a base line that they can use to compare via DI Analyticis their acreage against competitors. Fanatical attention to real time competitor results will deliver maximum possible ROI to any company willing to invest in this level of monitoring.
We provide our clients with metrics to understand field development and economies of scale. Achieving economies of scale is how the most active operators make the most use of time and capital. We provide our clients metrics that take into account current well spacing, pad drilling, and monthly well rates to understand where operators are in their drilling programs. They can then understand the current state of an operator’s program, whether they are early in the exploratory phase, or achieving economies of scale with pad drilling.
One of the cool things about working for DI is providing insights that formerly took years to spread among companies in matter of days. Democratization of the oil business some like to say. Unconventional plays are experiments that evolve and change as new processes are discovered. What works best today may change with technology advancements derived from this constant experimentation. Lateral length, frac design, simulfrac methodology are just a few of the areas DI Analytics tracks to better understand the evolution of a play. By consistently monitoring the activity trends, changes can be recognized and reported to clients to create greater value for all.
Drillinginfo provides a continuous stream of the latest industry data available. By creating leading-indicator metrics that identify changes in trend from areas such as well productivity, field development practices, rig movements, etc. you will be aware of how the industry is evolving in near real-time. In trying to be ahead of the curve, there will inevitably be some false positives that need to be considered and filtered out but this approach will allow your people to evaluate current and relevant hard data, rather than just trade show talk.
Workflows in Transform Essential provide modern workflows to help our clients obtain timely answers.
The unconventional playing field is high paced. Fast action is crucial to getting out in front of the other guys. Things happen quickly throughout the entirety of the play’s development. From the scientific assessments, to the land grab, to get wells drilled, well optimization phase, efficient spacing of the wells, and eventually the hurry up and get out phase. Anybody that has been in the industry for even a little while knows that this is a cyclical game and to be successful you have to strike when it’s right.
What do you think? What else is important to measure? How do you make sure your business stays out in front of the competition? Leave a comment below.
We are sure fired-up about Winter NAPE this year! Come see us at Booth #2509 – you can’t miss it.
The North American Prospect Expo is always a great time for us to meet up with our friends, learn how things are in y’all’s neck of the woods, and share a few of the exciting projects we have been working on to save you time and money!
Based on available data, we predict we’ll all have a good time
We’re fired-up about Predictive Decision-Making in 2014
We launched Transform Essential – a next-generation multivariate statistical package built for the oil and gas industry. Predictive decision-making with integrated land, geological, geophysical, and production analysis – use your data, our data, or all the data! Check out our video, and get your questions ready!
Also, DI Pro, Drillinginfo’s in-depth oil and gas information, analysis and insights package, has gone through a number of significant upgrades. You won’t believe how seamlessly we have integrated geotechnical, production and land data – all available for analysis or download through your web browser.
A couple of reasons we’re fired-up about Winter NAPE
Winter NAPE is of course the big E&P networking event of the year, and there’s a couple of things you won’t want to miss.
Our exclusive NAPE kick-off networking party
This is the party of the year on Wednesday, February 5, 6:00 p.m at Minute Maid Park Union Station Lobby. Come for the cocktails, stay for a presentation from Allen Gilmer on how next-generation technology is revolutionizing E&P decision-making! Click “Register Now” to reserve your space.
Our Drillinginfo Booth
Come see our Subsurface Theater Virtual Reality Experience – take a trip under the earth with our Oculus Rift glasses hooked up to DI’s data. The seismic, the faults, the wells – all as if you can reach out and touch them!
We’ll have DI folks on hand to demo our 2 predictive decision-making platforms: Transform Essential and DI Pro!
And as always we’re happy to talk about DI Marketplace, DI Rigs, Well Interpretation, Directional Surveys, GeoData Services, Completions, International GEO and Scout and more!
What do you think? Are you fired-up about NAPE? What are you excited to learn about this year? Leave a comment below.
Lets take a look at some of the innovation we will see in the coming months from Drillinginfo.
Over the next few months, Drillinginfo is going to introduce a series of revolutionary products to the marketplace. We’re going to completely change the industry in terms of what we produce and what we deliver to customers. Here are some examples of what you’re going to see.
Rapid Data Access and Visualization
Our new offering will give users unprecedented, faster access to data more accurately than ever before with the ability to bring in land, production, well, and rig data and see it on a single map, being able to turn layers on and off. It will allow customers to make quicker decisions faster and produce answers more accurately.
Automated Geological Interpretation
Our new well interpretation system will allow you to build cross-sections in 2D or in 3D.
The most revolutionary part of what we’re offering is the ability to automatic correlate. So you pick one or two tops, and the system will go ahead and pick the rest of the tops for you. This will save you time and money in generating prospects.
Guided Geophysical Interpretation
Our new seismic interpretation system has an auto picker that is better than anyone in the industry. You can actually visualize the synthetics in 3D along with all the rest of your seismic.
Fault and fault seal analysis are part of the interpretation, so users can clip and trim their faults at the same time they’re doing their interpretation. The fault structural model then drops out of this so users can see the entire structural model. What this brings to users is a more accurate system in much quicker time.
Accurate Time to Depth Conversion
Our new time to depth conversion system allows the user to see the models both in time and in depth. Once the correlations are made, the user can pick interval or average velocity. This will convert the entire seismic volume to depth for later use in analytics. A depth volume that is more accurate means a more accurate prospect for our users. This new functionality significantly reduces your risk.
With our new analytics offering the user will be able to perform univariate, bivariate, and multivariate statistics on virtually anything. With seismic now converted to depth, users will be able to correlate their seismic data and their well data in any fashion they desire. This functionality will show you where to lease, where to focus your time and resources, with much greater accuracy and speed.
Now you’ve seen improvements on how you will access data and visualize it, how you will interpret wells in a new way, how you will interpret seismic in a completely different fashion, a new seismic time to depth conversion system, and analytics that you’ve never been able to do before.
We will continue to innovate and provide solutions to you in the future. This is just a glimpse of how we will make a transformative change to the industry.
What steps are you taking to keep your business out in front? What technological changes are you looking forward to in the oil and gas industry? Please leave a comment below.
Are you ready for the new E&P? Click here to view a demo of our new Predictive Decision Platform.
Today Drillinginfo announced the acquisition of Transform, Inc. to bring rich seismic analysis software and much more to our subscribers. I thought about simply regurgitating the press release, but then I thought it might be fun to give you a little inside perspective on why we made this acquisition.
As far as business transactions go, it wasn’t anything that will make the front page of the Wall Street Journal. It wasn’t Google, Apple or ExxonMobil. So who cares?
Anyone in oil and gas that wants to increase their bottom line ROI should pay attention.
The Transform Revolution
There have been some transformative technologies in the past 40 years that have had major impacts on our industry, but there are probably only a handful of people that can remember when they first happened.
3D seismic, interpretation systems, hydraulic fracturing and directional drilling have all been revolutionary technologies that forever changed the industry. In today’s world, combining hydraulic fracturing and directional drilling has produced yet another revolution.
It is possible the next revolution will happen by combining two or more existing technologies.
Transform software brings together interpretation, modeling and predictive analytics into one platform to help users find and produce oil and gas more efficiently. It is the only package on the market today that combines all three technologies into one package for the geoscientist. If you are not familiar with predictive analytics and you are working in the unconventional space, now really is the right time to learn more and take advantage of this powerful tool.
Companies doing predictive analytics sometimes use packages like SpotFire or Tableau, but these are general tools and not a fit for purpose tool like Transform. The ability to look at well logs, perform seismic analysis with various attributes and use statistical analysis to determine the best place to drill, the optimal place to complete and the number of wells to effectively produce a reservoir is an amazingly powerful tool that can directly affect the bottom line.
One Stop Seismic Analysis
But, in order to do analytics, modeling and interpretation you need data. And in order to make use of the complex data the industry generates, you need analytics, modeling and interpretation software. That part is fairly obvious.
However, the ability to seamlessly join the data and tools customers need is something the industry has never had. With tools like DI Desktop we believe we have the expertise and knowledge to seamlessly integrate a massive and complex database with a desktop system over the Internet. Imagine never having to transfer data again – it’s simply there. I suspect that would be Transformative (pun intended).
The other reason we acquired Transform is the company is a great cultural fit. Drillinginfo is a very unique place to work. We have been named one of Austin’s Top Work Places three years running. We take special pride in our culture and guard it very carefully to make sure we remain a great place to work. Anything that would upset that “specialness” is something we would walk away from.
But, the last several visits I made to our Denver office have shown me it is a great group of people that work very hard in a really relaxed environment. They are creative and yet put out very practical products that have a great reputation in the industry. To me it seems like a great fit.
So what is on the product forecast for the next 6-12 months?
Well I can’t really talk about it yet but, stay tune to these pages. The announcements will be coming shortly, but for now I can give you a hint … One of our programmers called the small piece that he is working on “a cup full of awesomeness.” I measure everything in barrels.
Any geoscientists out there interested in being a beta tester? We would love to hear from you. Please, leave a comment below.