Getting Value From Publicly Available Data in Oil and Gas Industry

| |

The oil and gas industry thrives on data, the overwhelming majority of it generated during exploration-drilling-completion-production cycles. But vast amounts of publicly-available data can provide valuable insight to guide a producer’s economic and operational strategy. Today, access to a wide range of relevant data in the oil and gas industry is proving to be as essential to success as producing hydrocarbon resources.

Oil and Gas Industry Data Sources

Public data is available via paid subscription services from financial information companies like Bloomberg and Reuters, and free from government agencies like the Environmental Protection Agency, Texas Railroad Commission, Oklahoma Corporation Commission, and the Division of Oil, Gas, and Geothermal Resources in California, and even detailed regional data sources regarding the Wolfberry Formation, Permian Basin, and West Texas.
These and myriad other sources provide a panoply of oil and gas industry data. Public data can augment a producer‘s own data sources to support better economic and production decisions such as:
  • analyzing price differentials and market conditions between different regions like Utah and Louisiana to determine the best use of future infrastructure investments
  • comparing the history of North Sea Brent crude prices against Chevron North America assets as a reference for future trends
  • evaluating the economic impact of pending regulations such as well abandonments due to geologic changes, proximity to groundwater, or risk of litigation
Although much of the data are free, access and analyses of these data may require on-going investments and in-house technical skills to efficiently access, normalize, and evaluate. Some data sources enable easy downloading by providing it in a standard format—ASCII, XML, CSV. Other useful sources may require more technical finesse in harvesting and preparing the data for consumption and analysis.

Efficiently Access and Analyze Data in the Oil and Gas Industry

The volume of available data in the oil and gas industry presents both tremendous opportunities to improve decision making and significant analytic challenges. With the petabytes of data that could be harvested daily, how do producers efficiently federate, classify, and analyze the data to obtain the maximum value?
Software provides the answer for producers wanting to take advantage of the publicly-available data in the oil and gas industry. With open-source programming languages like Python, producers can create workflows that access relevant oil and gas industry data sources, download and normalize the data, and analyze it. Python scripts can eliminate the difficulty of searching through volumes of structured and unstructured data sources (pdf, .ppt, .docx, .jpg, .tif) to harvest the most relevant data for analysis.
Software like CoViz 4D can natively read and incorporate ASCII, AutoCAD, DXF, ESRI, and a variety of image file formats into the 3- and 4D models visualization and analytic models it creates. CoViz 4D also offers the ability to query other downloaded data sources and incorporate that data into hydrocarbon assets models for detailed analysis by all members of asset teams.

CoViz 4D and Python Synergy in Visualizing Data in the Oil and Gas Industry

CoViz 4D works with Python to makes it easier to reproduce, support, share, and document workflows. Python can add a huge amount of data manipulation and analytical capability to augment visualization and collaboration provided by CoViz 4D. The combination of CoViz 4D and Python enables providers to conduct economic and technical analysis and analyze production trends for unconventional or conventional plays, as in these examples:
  • Use publicly-available GIS data and economic factors (price of product, land costs, drilling costs, etc.) for scoping economic analysis for an existing or emerging play trend.
  • Incorporate well surveys, logs, tops, and transportation routes (pipelines and rail) to determine optimum locations for surface infrastructure.
  • Query an external database to obtain site-specific data to augment.
  • Assess reservoir potential by analyzing production trends of existing oil and gas fields.
  • Use geoscience and engineering technical data completed by state geologists in planning for new fields.
The wealth of publicly-available data for the oil and gas industry attains the greatest value when it can be easily accessed, visualized, and analyzed in context with other relevant hydrocarbon asset data.
The wealth of publicly-available data for the oil and gas industry attains the greatest value when it can be easily accessed, visualized, and analyzed in context with other relevant hydrocarbon asset data. Together CoViz 4D and Python enable oil and gas producers to take advantage of the most relevant oil and gas industry data sources—public and private—to maximize their return on assets.

CoViz 4D, a data visualization analytics software from Dynamic Graphics, Inc., gives asset teams the ability to easily access and combine publicly-available and producer-generated data to collaboratively evaluate opportunities and improve production efficiency. To learn more about CoViz 4D, contact our team.


3D Permeability Modeling in Carbonate Reservoirs

Structure and property models with well logs and flowback tracer towers. Note the rock heterogeneity in the top layer that’s common in carbonate reservoirs. Data courtesy of Rocky Mountain Oilfield Technology Center and USDOE.Carbonate reservoirs are the source of...

Big Data Oil and Gas Use Cases: Visual Interrelationships Between Multiple Variables

The oil and gas industry relies heavily on data for quantitative and qualitative analysis and assessment of variable interrelationships. Big data analytics has been useful in exploring, planning, designing, and developing hydrocarbon assets in terms of making...

Reservoir Performance Analysis: Obtaining the Complete Picture

Temporal visualization and analysis of all reservoir conditions and various data components with CoViz 4D facilitates the understanding of reservoir potential and maximizing recovery and profitability.Accurate reservoir performance analysis requires a detailed...

SAGD Well Completion Design Considerations

Steam-assisted gravity drainage (SAGD) methods have proven their effectiveness in economic oil recovery in Alberta and California, frequently achieving a 60% recovery factor. The placement of horizontal laterals within a field and the vertical separation of well pairs...

Monitoring Induced Seismicity in Geologic Carbon Storage

The interest in geologic carbon storage is on the rise. It’s proving to be an effective method to reduce CO2 emissions in an effort to mitigate climate change. Geologic carbon storage can serve several purposes—straightforward CO2 storage, injection into wells for...

Data Visualization to Guide the Recompletion of Oil and Gas Wells

Covisualization and analysis of fluid migration and depletion via 4D seismic along with production/injection values and geologic structure can enable better decision making when it comes to recompletion considerations.With easily recoverable oil either gone or...

Seismic Reservoir Monitoring Through Visualization

An ideal design, development, and management plan for hydrocarbon asset development comes from having a better understanding of  all known geological and petrophysical aspects of the subsurface. But given the dynamic nature of the reservoir and its attributes, petroleum professionals can encounter some complexities in the process of in-depth analysis.

Share on Social Media