Having the right data management and drilling reporting software allows your team to access all recorded activity in one place and instantly share insightful reports company-wide.
The software you choose should also allow you to easily see drilling and workover entries, casing and completion intervals, failure and activity entries, surface and downhole equipment, well notes, well tests, fluid levels, and regulatory filings. If your reporting software isn’t able to do this, it may be time to look into a more robust user-friendly data management system.
Let’s take a closer look at how reporting software can help improve oil and gas operations.
Regular reporting is the key to catching issues before they become bigger, more expensive problems. The challenge most oil and gas companies have when it comes to reporting is that their information is hard to access, not well organized, or inaccuracies occur due to user error or duplicate entries.
With the right software solution, reports can be sent daily, weekly, bi-weekly, and monthly with ease. Streamlined, accurate reporting is extremely important when making decisions that impact a company’s bottom line.
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You will want to be able to access a report that can be easily downloaded and sent to multiple parties i.e. the accounting department, investors, management etc. so that they are up to date and informed.
For example, you can use the information from reports to help those who aren’t out in the field understand a well’s progress to determine if it is profitable or it’s status. You don’t want to send out incorrect information or make another team wait to make a decision because your system is lacking.
Quick Access to Historical Operating Records
It is vital that oil and gas companies are able to access a well’s operating history so that they can see how efficiently the well has been operating overtime and how specific wells affect company profits.
Software systems like PetroBase Pro allow you to create historic, easy to understand one-page reports that include significant drilling and workover entries, failure activity, well lifting cost, well status, surface and downhole equipment, well tests and more. Similar to progress reporting, historical operating records can provide insight to help inform vital decisions relating to operations and revenue.
Combating Lost Production
The production of a well, based only on geophysical constraints is consistent. It is when environmental or operational influences come into play where we can see our production have spikes or sharp declines.
Software with the right features will allow field personnel to identify lost production. Finding lost production quickly is crucial because 9 times out of 10, you won’t get the production back the next day. Instead, that lost production won’t come back until the end of a well’s life. Producing those “lost” volumes at the end of a well’s production life will cost a lot more money and resources to obtain. You have already paid to produce a barrel of oil today. The right software and dashboard will give field personnel the tools they need to visualize what is occurring and take action or investigate the issue.
Chemical Treatments and Failure Analysis
Unfortunately, oversights when it comes to the use of chemical treatments are often not caught until significant amounts of money are spent. This can be devastating to smaller firms and cause relationships with vendors and customers to suffer. Let’s take a look at the example below to see how the right software can help uncover issues regarding chemical use.
When one company switched to PetroBase Pro, they uncovered a huge problem when looking at the lifting cost dashboard. What was essentially supposed to be a ~$1000 fix to clean out their saltwater tank deferred to 12,000 dollars a year in paraffin solvent because of the misuse of the chemical.
It was first identified that the paraffin costs were unusually high and these costs were paid before the team realized the well didn’t need a paraffin solvent.
The underlying issue was actually the saltwater tank that was being used for the disposal system. A large BS&W (basic sediment and water) pad was being pumped down the wellbore plugging the formation and limiting fluid disposal. Luckily, the company identified the issue and was able to get a crew out to clean the saltwater tank getting rid of the BS&S pad.
Well Equipment Inventories
Those working with expensive equipment are at least somewhat responsible for keeping track of the equipment. Materials need to be easily accessible, securely stored to prevent theft, and reasonably organized.
Often, inventory records are kept in haphazardly thrown together spreadsheets or handwritten forms. This makes it difficult for teams to know what equipment they do have and locate what they need quickly. This inefficiency can lead to wasted time and money.
Tracking and accounting for these items needs to be carried out through accurate record-keeping within a centralized software system to avoid complications and revenue loss.
Wellbore Diagrams & Schematics
In addition to reporting and data analysis software that can carry out the functions mentioned above, shared applications like PetroBase WellBore Schematic can be used for tracking vital data throughout a well’s history.
You can construct powerful wellbore schematics scaled from critical entries such as completion intervals, casing setting depths, cement parameters, tubing data, remedial cement squeezes, fluid levels, and other downhole information.
Having an accurate reflection of the wellbore will help you easily build a comprehensive well file that can be accessed company-wide.
This type of system also allows teams to stay on top of inactive wells and performing lifting cost analysis will save time and money resulting in optimized operations.
Duplicate entry not only wastes a worker’s time but it can also cause some serious problems when data is analyzed. PetroBase Pro allows for daily remarks to be entered remotely. The significant entries flow to plots and wellbore schematics based on keywords, eliminating duplicate entry and inaccuracies.
PetroBase Pro’s visually interactive dashboards integrate multiple data types for end-users and generate comprehensive reports to help companies discover what actions they should take to help generate more revenue and improve operations. Data is presented in an easy to understand way so that you can quickly identify where abnormalities may be costing your business time and money.
Click below to find out more about the features of PetroBase Pro!