Maximizing drilling performance is essential to profitability. But relying solely on traditional speed and cost metrics to measure performance provides a narrow and often inaccurate view.
That’s why a Fortune 50 company set out to improve how it measured drilling performance. Management wanted to understand the reliability of wells as a holistic way of measuring well performance. But first, they needed to overcome some significant barriers. For example, data varied across business units, making it nearly impossible to establish a comprehensive enterprise view of all production data. Mapping historical drilling data to production data was very difficult due to differences in well naming. Additionally, the company had no unifying tool that could index across all data sources and run advanced analytics.
Using Maana, the company combined historical drilling data such as WellView with a variety of production data (such as energy components and well production failure data) on a regional and global basis. This data was then analyzed to generate insights into the reliability of wells and correlated with data on the number of well failures and failure rates. Management was able to accurately identify wells that failed in the first year of operation, existing wells with the potential for failure in its first year and common factors in failures. In this way, the platform helped the company gain a better understanding of the history of first-year well failures associated with its multi-million dollar wells.