We discovered that geology was critical in valuing and buying assets, drilling wells (staying in zone), and producing hydrocarbons. But there was one stage of the business where geology was completely ignored – completion. Why was this? There was a ton of data in the form of cuttings, wireline, measure while drilling (MWD), measure while tripping (MWT), and more. All of this data was ignored when designing the well’s stimulation. Was this because stimulation design was already optimal? Clearly not. It was because the tools necessary to exploit this data, while reducing design time, weren’t available. We found a big problem in need of a tool…those are the problems we like.
So we designed a tool to enable completion design. We leveraged all of our expertise in usability making it hyperfast to design a geo-aware completion. The drag-and-drop interface is not just efficient, it is visual and fun. Best of all, it has the potential to make wells dramatically more economic, by lowering costs and increasing production. The low hanging fruit, such as skipping well sections that are out of zone or reducing proppant in sections of bad rock can result in a 50X or better Return on Investment (ROI). Adding machine learning for constant optimization could take this to 200X or more ROI with time. It wasn’t just 10X better, but 50X and potentially 200X!