It’s difficult to make fracking more efficient and safer at the same time, but we can hedge our bets using the advanced data technologies of “prescriptive analytics”.
There’s a lot of data moving through a fracking operation. Depending on the shale play and the operator, the drilling phase can last from six to thirty days, the fracking-completion phase can last from three to eight days and production phase can last for 30 years. And all that data comes in the form of different datasets. The big question is how to make sense of them together?
To get more oil and gas from a well for a longer period of time and a lower environmental footprint, it’s crucial to extract actionable information after combining all these datasets. As the industry gets into the “shale manufacturing” phase, and as exploration and production costs rise, an operator’s ability to improve production performance and safety is instrumental for success in the highly competitive marketplace.
As oil prices start dipping gradually over the next couple of years, the ability to make accurate investment-drilling-fracking-completion decisions will become a must-have competency. Enter big data analytics.