As population and income growth continue to increase, so will the demand for energy. BP recently published BP Energy Outlook 2030 which states "World primary energy consumption grew by 45% over the past 20 years, and is likely to grow by 39% over the next 20 years." In fact, Barclays estimates that E&P spending for 2012 to be roughly $600 billion. In addition, rig counts are on the rise from last year, averaging an 8.5% growth rate from 2011, based on the Baker Hughes rig count.
This growth is fueling an increase in technically challenging and complex wells, resulting in increased costs associated with drilling non-productive time (NPT). According to studies from the James K. Dodson Company, drilling NPT consistently ranges from 16% on lower risk onshore wells, to upwards of 38% on higher risk deepwater, subsalt wells; thus amounting to roughly $96 billion and $228 billion.
Verdande Energy offers a software solution that can help reduce drilling NPT. DrillEdge™ technology is a real-time intervention tool that mitigates costly drilling problems in advance, offering real-time support to help:
- Identify problem precursors.
- Interpret and resolve the drilling situation.
- Retrieve relevant solutions and lessons learned.
Verdande Energy's software solution is now being leveraged by Baker Hughes, Inc.
Baker Hughes has introduced its WellLink™ Radar Remote Drilling Advisory service, designed to detect and diagnose drilling challenges before they occur. The integrated solution leverages Verdande Energy’s DrillEdge cased-based reasoning software to reduce uncertainty, minimize NPT, increase safety, and enhance drilling efficiency. Multiple wells can be remotely monitored simultaneously, reducing health, safety and environment (HSE) risk by limiting personnel on the rig.