US-based data analytics company Drillinginfo has launched Drillinginfo Index, which uses drilling locations along with permit and production data to track oil and gas production trends
Allen Gilmer, CEO of Drillinginfo, said, “In this dynamic and often volatile environment, these highly accurate insights into oil and gas production are critical for decision-makers to better understand the market months in advance of state reporting agencies.
“This Index provides a holistic view of the health of the industry and is intended to quickly give the markets indication of how the collective actions of oil and gas producers are impacting future production."
By utilising its proprietary rigs, permits and production data sets, Drillinginfo can uncover trends in well activity, identify newly drilled wells and estimate their peak production to closely predict changes in new production capacity at the national, county and operator level, added Gilmer.
Kenneth Medlock, official at Rice University's Baker Institute, noted, “The challenges faced by policymakers, academia and practitioners in examining today's energy industry highlights a need for data that is more accurate and available in as close to real time
as possible. The Drillinginfo Index is a welcome tool that will aid in better navigating current market conditions to the benefit of the entire industry and other stakeholders."
Drillinginfo’s predictive decision platform combines intelligence, analytics, tools, and services in one system to deliver value at every stage of the exploration and production process, said Medlock.
To register for Big Data Analytics for Oil & Gas, please visit: http://www.oilandgasbigdata.com/register
