Operator-only membership service helps drilling engineers compare performance against peers, lower risk and increase efficiencies
Tuesday, August 19, 2014 8:00 am EDT
"Therefore, they need to be able to compare their own drilling data against existing neighboring wells to get a sense for what a new well is going to require in terms of depth, pipe, bottom-hole assembly (BHA), chemicals, mud properties and drilling time."
IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, has launched the IHS Drilling and Completions Solution, a unique, operator-only membership service designed to provide oil and gas operators - and their drilling engineering teams -- with detailed current and historical drilling data as well as the performance benchmarking analysis derived from that data.
Benchmarking analysis is essential to an operator’s ability to assess their performance in a particular U.S. play as compared to other operators, and to achieve operational efficiencies in their drilling program. However, it is often a costly, time-consuming process.
“Drilling engineers working in the U.S. unconventional plays or Gulf of Mexico will tell you that the sub-surface characteristics such as pressure, temperature and depth can vary significantly from one part of the field to the next,” said Chip Bailey, director of product management at IHS Energy. “Therefore, they need to be able to compare their own drilling data against existing neighboring wells to get a sense for what a new well is going to require in terms of depth, pipe, bottom-hole assembly (BHA), chemicals, mud properties and drilling time.”
With the IHS Drilling and Completions Solution, we’ve created a forum for operators to share this information with one another,” Bailey said. “But, we take it a step further and provide the critical benchmarking and data analysis, so they can assess their drilling program’s performance and efficiency much more quickly.”
The IHS Drilling and Completions Solution is organized into four regions of coverage that model the organizational structure of many operators, including the Rocky Mountain/West group, the Midcontinent Southeast group, the Northeast group, and the Gulf of Mexico group. This new offering employs a data analysis software tool that integrates two existing services – the IHS Offset Drilling Data and IHS Drilling Performance Benchmarking solutions. The solution’s robust database includes more than 26,000 historical, public offset well records with detailed, quality-controlled, drilling data (mud, chemicals, BHA ) and operational event information.
The converged data accounts for more than 9,000 operator-provided performance benchmarked wells. In addition to performing ‘well-to-well’ benchmarking, the IHS offering enables operators to assess ‘operator-to-operator’ performance as well as ‘operator-to-industry’ performance.
“This solution is a game changer for operators,” Bailey said. “Access to current data is imperative for operators to improve their effectiveness, which is why the integration of these two services is so beneficial to our customers. Many of them used to attempt to gather the data and do the performance benchmarking themselves, but it was quite costly in terms of money, time and resources—just so they could get to the point where they could evaluate the data.”
With the converged tool set from IHS, planning, design and improved AFE (authorization for expenditure) analysis can be accomplished in hours instead of weeks. IHS now performs all the capture of drilling data and events for operators and makes the analyses available through their internal business intelligence tool set by a simple download.
The new IHS offering, Bailey said, is helpful to both new entrants into plays and to play veterans seeking to assess their technical limits within the play. For example, operators in the Permian, Eagle Ford and Gulf of Mexico have used IHS Offset Drilling and Performance Benchmarking for several years to improve the drilling pre-planning and design process while reducing costly down-time through the look-back analysis and the identification of geological trouble areas and potential hazards.
“Now operators can compare their performance against other operators and can quickly adjust their strategies for further operational efficiency,” Bailey said. “For example, a director of global drilling and completions for a major offshore operator has used the IHS Benchmarking Mechanical Risk Index to measure new well complexity since the 1990’s, to validate internal and partner drilling AFE costs, and to ensure continuous improvement for existing projects.”
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs more than 8,000 people in 31 countries around the world.