Upstream Oil and Gas Company Finds Unconventional Value in Spotfire
Blog: The Tibco Blog
This upstream oil and gas company is a leading natural gas and oil producer with expertise in developing tight gas, shale gas, coal bed methane, and unconventional oil resources. Its goals included being the most efficient and prudent operator among all oil and gas companies, especially for unconventional resources. To do that, it has to concentrate on efficiency in cost, execution, and data.
As the reservoir engineer explained, “The industry is now in a down cycle. In an up cycle, you might drill 20 wells and see which ones are best, but today, if you drill two wells, they have to both be good. We have to make better decisions.”
He points out when companies grow through acquisition, often the forethought is not there to integrate and harmonize systems and clean data. “We found ourselves with a lot of old processes, and they’re all very breakable, easy to corrupt, and labor intensive. We needed to be able to build workflows that could adjust to the end user’s role. We needed to streamline our data and get it into usable, clean formats that end users could use with minimal support from IT.”
Read about how TIBCO Spotfire, including the TIBCO Enterprise Runtime for R (TERR) engine, helped this company bring disparate data sources together for more robust analyses, clean and normalize data for 44% cost savings, build focused workflows and best practices for better decision-making, and much more.
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