The oil and gas industry thrives on data, the overwhelming majority of it generated during exploration-drilling-completion-production cycles. But opens in a new windowvast 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
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 opens in a new windowbetter 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
Efficiently Access and Analyze Data in the Oil and Gas Industry
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 opens in a new windowvisualization 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.