Discover the latest news, trends and happenings at Well Data Labs
Active Well Defense: is near-real time evaluation possible?
The topic of fracture-driven interactions has been among some of the industry’s top headlines, perhaps not in the last several weeks but certainly in the previous year, if not longer. Whether you call it frac hits, frac bashing, well interference, or fracture-driven interactions (FDI), it can have a decisive impact on the production of neighboring wells. While the effect is not always negative, many operators are looking for ways to minimize FDIs as much as possible, especially in a time when our industry faces headwinds from multiple directions. (more…)
What everyone should know about data science
Data Science – the term is everywhere and for a good reason. With more and more data being generated every minute, it is imperative that companies adopt technologies like data science to store, process, and analyze that data. Everyone uses the term, but how many actually know its meaning and definition? read more…
Optimize adoption: get the best training for your team
Finding gems in your historical frac data
Using frac data to spot trends and improve outcomes
Though the booms and busts of the industry are often tied to economic and geopolitical forces beyond our control, we at Well Data Labs are firm believers in taking advantage of these slowdowns to innovate and improve efficiencies. Well Data Labs was founded during the last oil price bust of 2014, and our fearless co-founder and CEO, Joshua Churlik, does not let his employees forget this fact! I think it’s because it’s a great source of pride, but also because there is a great lesson to be learned in the oil & gas industry from our company’s origin story. read more…
Time for a frac review? 3 tools to gain deeper insights
The end of the year is coming – you can’t avoid it! Dissecting your 2019 business data, regardless of what industry you’re in, is crucial for a strong start in 2020. By now, you’ve most likely evaluated the past year’s performance and are finalizing budgets and plans for the coming year – tapping into as many insights as you can, whether that be from financial, operational, sales, marketing, or other data. Businesses often look to these analytics to set goals with a focus on driving growth and streamlining processes to help improve operational efficiencies in the year ahead. read more…
Capturing the value of APIs in today’s oilfield
The Intelligent Oilfield. It’s a term we commonly hear discussed in boardrooms, at conferences, in industry journals, on blog posts, and in other media. While the oilfield is becoming increasingly intelligent, that intelligence is hindered by a lack of something equally important; effective, easy communication. Much like knowledge, data becomes infinitely more powerful when the systems storing that data can communicate in a robust, standardized method. Enter the API, or Application Programming Interface. read more…
Garbage in, garbage out – how bad data can fuel bad decisions
Garbage in, garbage out. The quality of information coming out of a system can never be better than the quality of information that was put in. It may sound sort of like one of Newton’s laws of physics, it’s not. But at the very least, it’s an always relevant guiding principle for anyone who uses and analyzes data. Actionable analytical insights rely heavily, first and foremost, on having clean, structured data. This is, of course, much easier said than done in the reality of scientific research and business operations. Organizations often lack the time and/or resources needed to be manually digging through and manipulating vast quantities of data. read more…
How to free yourself from watching your frac job
Completions Engineers are busy people. Whether they’re working in a van in the field managing a frac job or sitting in an office at headquarters, the modern Engineer is faced with a growing stream of responsibilities vying for their attention. With this ever-increasing responsibility comes the increased risk of something being missed. Whether it’s a frac hit, an under-stimulated stage, or a screen-out, the cost of missing a valuable piece of information is growing. read more…
The Digital Oilfield – Then and Now
Much has been written about the digital oilfield, just Google it and you’ll get pages of results. The term has been around for nearly 20 years, and we thought it would be fun to provide a high-level overview of what it means and assess where we are in terms of progress. There is a list of several resources at the end of the post if you’re interested in reading more. Or just Google it!
Ok, let’s start with defining “digital oilfield.” Essentially it is a concept within the oil and gas industry that intersects technology, data, automation, and people. In its simplest form, the digital oilfield allows companies to do more with less. It integrates technology, data, and processes to help companies leverage existing resources (people) more effectively, make better-informed decisions, increase operational efficiency, maximize recovery, and decrease HSE risk. The goal is straightforward – companies can visualize reserves more clearly; optimize drilling, completions and production plans; and manage operations more efficiently – but the reality and implementation are not. read more…
Why Microsoft says you should never use Internet Explorer
In a recent blog post on theverge.com, Tom Warren provided some helpful commentary on Microsoft Internet Explorer and why businesses have been slow to migrate away from IE as their default browser.
Microsoft introduced Edge in 2015 as its modern browser for Windows 10 and eliminated the Internet Explorer brand. While Microsoft is no longer supporting IE, its use is still quite prolific. Many businesses and IT professionals continue to use IE out of necessity and for other numerous reasons. Some do so to support older web apps that haven’t been modernized, and for some, IE has been the easiest solution to support because in the past most sites were designed for IE. read more…