Manage Your E&P Data in the Cloud with Oil and Gas Software
As an oil & gas operator, your ability to manage E&P data holds the key to higher profitability and safer operations. Information is the lifeblood of the digital oilfield that drives success and competitiveness, yet effectively managing E&P data remains a challenge across the industry.
Innovative oil and gas software provides the comprehensive solution operators need to centralize, streamline, and optimize their E&P data management in the cloud.
The Need for Smarter E&P Data Management
Information delays between field and back offices, inconsistent data, and access constraints create solid barriers to timely, well-informed E&P decisions. Solving the problem starts with centralizing E&P data management, or “warehousing data,” to improve how operators store, quality control, and distribute information. In today’s fast-paced environment, however, the solution needs to be non-disruptive, agile, and cost-effective. Enter cloud-based oil and gas software.
What is Oil and Gas Software?
The benefits of the cloud are often obscured with terms like “economy of scale,” “total cost of ownership,” “on-demand computing,” and other buzzwords. Simply put, the cloud is a low-cost option to store data and applications that are easily accessible from any connected device. It is a simple concept with powerful benefits for oil & gas companies looking to solve E&P data management challenges. Oil and gas software leverages these cloud capabilities to provide integrated business management solutions specifically designed for the unique operational and financial requirements of energy companies.
Benefits of Managing E&P Data in the Cloud
From production and operations to drilling and well work, the oilfield is increasingly data-driven. Wells and facilities generate steady volumes of technical data along with transactional data like sales tickets. Operators receive information in multiple forms, from gauge sheets, spreadsheets, and SCADA systems, which often end up in different locations as a mix of manual data entry and automated data acquisition. Moving E&P data management to the cloud offers operators significant operational and financial benefits:
Cost-Effective Storage Solution
With the average cost for a gigabyte of storage now under .01 cent and falling, the cloud provides the most cost-effective place to manage this large amount of information generated across E&P operations.
Eliminates Data Silos
Field data capture software built on the cloud eliminates data silos by funneling E&P data into a central repository, preventing the common problem of information ending up scattered across different locations and systems.
Reduces Information Delays
Cloud-based systems eliminate information delays that typically occur when data flows through multiple manual and automated channels, enabling real-time access to critical operational information.
Streamlines Data Integration
The cloud enables seamless integration of diverse data sources by tapping into automated data streams and combining them with mobile field data capture, creating a unified approach to data management across all E&P operations.
Ensuring Data Accuracy from Field to Cloud
Lease operators and pumpers do the heavy lifting when it comes to collecting E&P data in the field. In addition to the complexities encountered every day on well routes, field staff are also on the front line of data management, responsible for a complex range of data types, including:
- Fluids – oil and water by tank and meter
- Gas – meters, compressors, flare
- Operations – pressures, well status, downtime
- Events – sales runs, water hauls, BS&W draws
- Well tests – flow tests by battery
Improving E&P data quality begins with validating information recorded in the field before storing it in the cloud. Cloud-based software and mobile applications support field staff and detect inaccurate recordings, such as a pressure value that falls outside a specified range. The cloud also enables centralized administration of data standards, which allows operators to lock down asset naming and avoid the pervasive problem of inconsistently used well, lease, and field names.
Centralizing Data Management with Cloud Integration
Operators must keep track of a wide variety of information assets to run their business, some of which include chart of accounts, consumables inventory, and working interest records. Without centralized management, such valuable data tends to end up in specialized drilling, production, and accounting software, allowing access for some users and effectively locking-out other departments.
Adding to the data access problem within an organization, E&P companies must share myriad types of information externally with partners, investors, and contractors. Managing E&P data in project-oriented applications, which are prone to multiple versions of the truth, places a big burden on operators as they assemble and share authorization of expenditures (AFEs), joint interest billings, and production reports with their partners.
Cloud-based E&P data management tools allow operators to create one version of the truth for key business records and operational data. Coupled with field data capture, the cloud becomes a hub for gathering E&P data and efficiently distributing information to people and applications. The upshot for staff is that data, reports, and documents are easily accessible via PC, tablet, or smartphone. Creating a clearinghouse for E&P data in the cloud also reduces the time and cost of sharing information with partners.
Why Choose W Energy’s Oil and Gas Software
W Energy Software leads the development of E&P software in the cloud. Focused on the needs of independents, we provide a complete solution for managing field data in the cloud and creating data-driven reports for drilling, well work, production, and operations.
Every E&P Company has unique operational and data management requirements. That is why W Energy Software’s cloud-based platform is modular and highly configurable to each client’s business situation. Clients select from hundreds of predefined data attributes to track, and can extend field data capture with custom data types. With industry-leading data management and reporting software built on the cloud, W Energy Software gives operators powerful tools to track operations, optimize spending, and ensure compliance.
Ready to transform your E&P data management and unlock the full potential of cloud-based operations? Request a demo today to see how W Energy Software can streamline your field data capture, eliminate information silos, and provide the comprehensive reporting tools your operation needs to thrive.
References:
https://wenergysoftware.com/streamplus-platform/
https://wenergysoftware.com/solutions/upstream/field-data-gathering/
https://www.ibm.com/think/topics/data-silos
https://wenergysoftware.com/solutions/upstream/accounting/
https://wenergysoftware.com/solutions/afe-authorization-for-expenditure/