How do we quickly access and interpret data for licensing rounds?
Discover how PetroView® helped a subsurface team become more efficient in their analysis of licencing data.
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The new subsurface director of a mid-cap independent company quickly realised his team was not able to effectively access and manage the data they needed. The problem? With so many sources and formats, the data was not clean and it was highly disorganised.
The team needed to rely on a single source of information, with data that was consistent and up-to-date. As a former PetroView® user, the director knew the tool would enable his team to quickly find the data they needed for screening during licensing rounds.
In providing demonstrations of PetroView® to the team, we could show that it would enable them to effectively manage data and speed up the licensing screening process.
PetroView® was quickly deployed, allowing the team to:
Identify the location of announced licencing blocks. Features like the 'adjacent items query' helped the team narrow down blocks of interest, and identify regions close to existing infrastructure and producing fields.
Interrogate data in surrounding areas to determine if a block was worth investigating. The well formation tops data and reservoir characteristics let the team assess if the subsurface properties of the block of interest might be analogous.
Export data into internal systems for further and deeper analysis. The custom-designed export routines allow the data to be seamlessly imported in a format that most internal databases and interpretation systems accept, eliminating the need for the team to create the polygons manually.
Now able to quickly access the information they need, the subsurface team is more efficient when screening and interrogating data for licensing rounds, and the director can confidently make decisions that support the company's exploration strategy.
Ascertain how quickly fields started producing from initial award date in surrounding blocks or for analogous fields.
Increase awareness of new license awards and relinquishments, informing analysis of competitor and peer group strategies. It also highlights where the company might enter into farm-in agreements to jointly develop a prospect and minimise risk.
Identify where new wells have been drilled, allowing them to more quickly understand the results, and draw lessons from any unsuccessful projects.
Pinpoint activity around the company's assets and identify opportunities for partnerships or shared infrastructure to reduce costs.
Discover assets that align to the company's strengths, and make insightful decisions regarding its exploration strategy and management of its prospect inventory.
Leverage investment in existing technical architecture.
PetroView®. See further. Get closer. Request a demo or speak to an expert today.