The E&P industry generates vast quantities of data every day. The real value of this data can only be realized if it is recorded and analyzed in a meaningful way. Failure to do so can result in poor decision making. Whether it is a drilling, completion, or workover operation, if detailed operational data is recorded properly and analyzed effectively, valuable information can be obtained, which can be used for optimization of production operation to help save on future capex and opex. For this to be achieved companies need to have an effective means of managing their data and applying pertinent analysis.
Join Felor Makhmoor on the Production & Economics Community Forum and cast your vote on which areas you think data analytics will be the most effective in reducing opex or capex.