Intermediate Energy Company Drills Down into Data Insights for Better Performance
As production expanded, a leading North American intermediate oil and gas company needed to spend less time managing data, calculations, and manual tasks, and more time generating actionable insights to add business value. The company needed a solution that could create or improve corporate solutions for all business users, making standard decisions faster and smarter than before.
This company chose the TIBCO’s Connected Intelligence Platform to improve data insights for fracking and strengthen decision-making.
TIBCO products are being used to build fit-for-purpose applications for a variety of evolving technology needs. TIBCO Data Virtualization software curates and transforms data views while TIBCO Spotfire analytics combines and visualizes the datasets. TIBCO Data Virtualization software provides a strong data foundation for generating faster and more reliable insights with Spotfire analytics. This all connects with the company's SQL database.
According to a company supervisor, "A unique thing we've been able to implement that makes our insights really powerful is harnessing Spotfire strengths, then pushing data back to the database to make it a closed-loop workflow and really builds on the strength of those analyses."
The company's new analytics platform integrates data with other core datasets. Spotfire software standardizes large amounts of data into six tables that can easily filter, mark, and visualize important information so the oil and gas driller can apply insights from combining data like fracture geometry and reservoir performance.
With TIBCO technology, the company built a toolkit—a solution not available on the market—to understand fracture geometries and improve mitigation. The toolkit measures fracture-driven interactions (FDI), which are the forces of pressure or fluid on a well caused by fracking. FDIs can decrease production, increase water usage, or create costly interventions. By tracking and measuring this data, the company can anticipate or avoid costly interruptions.
This oil and gas company has noticed several benefits since implementing TIBCO solutions. With its new data virtualization platform, data is now easier to access and update. Additionally, all decision-makers have easy access to accurate data interpretations. Users can navigate fracture timelines easily and gain deeper insights into oil reservoir performance.
The company's new platform has improved resource development; users can avoid overcapitalization of fractures and minimize offset impacts while fracking. Additionally, its high-precision analytics platform expands on new found data insights, fueling digital transformation throughout the company.