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drillinfoIndustries can minimise drilling risks and create optimal production results with the help of big data, said US-based oil and gas intelligence service provider Drillinginfo

According to the service agency, conventional reservoir discoveries have become increasingly rare and companies must be creative with how they could identify prospects.

“Because unconventional oil and gas production requires more expensive drilling and completion technologies, energy companies of all sizes now rely heavily on oil and gas data to minimise drilling risks and create optimal production results,” stated Drillinginfo.

Many advanced technological tools, including reservoir simulators and 3D seismic are available to all companies attempting to identify and evaluate conventional prospects. But the costs can be difficult to justify for smaller companies with tighter budgets, added the oil and gas intelligence service provider.

In order to stay competitive, many smaller companies and operators are leveraging ever-expanding oil and gas databases to obtain information. These companies are using analytics to guide prospect generation. “The most successful among them are those that are willing to think progressively about generating prospects,” noted the company.


To read the latest Big Data stories in the oil and gas sector, please visit: http://www.oilreview.me/information-technology