To avoid market volatility, energy organizations need to boost their portfolio with predictive analytics to become more resilient. Companies must adapt to fast-paced environmental changes and explore new opportunities to remain competitive in the evolving energy landscape. Today’s integrated energy providers need the right knowledge of their data in real time to make better decisions on every level and generate actionable insights.
Whether you want to identify new locations for drilling purposes or optimize your well-pad placement, Spotfire software delivers AI-infused visual data science and pre-built, customizable apps designed specifically for your industry. Spotfire® for Energy supports a wide range of industry use cases, specifically in the upstream space.
Gain insight into your hydrofracking completion process
Hydraulic fracturing, also referred to as hydrofracking or fracking, is a technique used to inject water, chemicals, and sand into a well to extract natural gas deep underground. A hydraulic fracturing completion survey typically involves measuring various parameters—such as fluid flow rates, pressure, and temperature—to determine the success of the hydraulic fracturing treatment and identify any potential issues. The hydrofracturing process involves high-pressure pumping schedules in relatively short time intervals, which makes it very useful to perform analysis on the fly.
With Spotfire, your company can see different aspects of the completion process to optimize business operations. By using advanced analytics during this process, organizations can:
- Connect to real-time data sources to gain actionable insights
- Create custom functions using programming languages that accomplish advanced data analytics tasks
- Provide a safer environment for the operation management team and minimize risk factors
- Reduce manual labor required, ultimately providing cost savings for the company
Want to see how Spotfire’s advanced analytics techniques can support you on your data-driven journey? Check out the treatment plot from the Completion Survey Demo. It uses conditional-base ruling to predict the current operation and helps monitor which well is currently being worked on. The treatment plot can be coupled with other extensions to detect anomalies or unexpected behaviors.
Choose the right well location
Before the process of hydrofracking, you need to find the right place to drill a well, which can be incredibly costly. Well design requires deep precision when planning and structuring the well components so that you’re not wasting time, equipment, and other resources on a failed location. The process can be time-consuming, directly impacting the economic feasibility of a project—especially if you have to replace tubulars regularly. Besides purchasing more durable equipment to cut costs, energy companies need visual data science to help predict the best drilling locations.
Spotfire features extensions that can help with better well placement. The Spotfire® Well Spacing (“Gun Barrel”) Diagram Mod is used to visualize the spacing of horizontal wells across a lateral section in relation to relevant formations. It provides measurements between wells to help plan drilling and completions activities. Combined with the 3D Surface and Line Chart Mod, you can gain a depth of insights into your potential or current well environment.
Spotfire powers the energy sector
Ready to get started? Explore how Spotfire has helped other energy organizations on their data-driven journey. To stay connected, be sure to join our Spotfire community club for energy professionals to connect with others in your industry.