Profitable drilling operations are dependent on accuracy. Without it, you risk missing the target and losing significant money. As a result, it’s critical to find the best solution for monitoring your drilling progress and at the same time, identify areas of improvement that increase productivity, drive efficiency, and provide other significant benefits. That’s where real-time drilling analytics come in.
Here are the top 3 reasons why you should use real-time drilling analytics:
- Increased Equipment Reliability
When equipment fails, so do your operations. That means lost time and money from having equipment repaired or worse, replaced. Using real-time drilling analytics, you can monitor your equipment and instantly see if it is drilling properly. If you are not drilling within the optimal parameters of your equipment’s standards, in each activity you could have nonproductive time or require frequent replacements and repairs.
- Significant Cost-Savings
Are your operating costs as effective as they can be? Real-time drilling analytics give you an inside look into your processes and help you identify where you should improve to save money. By spotting potential problems in their early stages, you can address them before they become issues and avoid downtime. After all, breakdowns cost significantly more than preventive maintenance and minor repairs.
- Boost Productivity
The third top benefit of real-time drilling analytics is that it boosts productivity and your bottom line. Drilling processes are challenging to monitor from the surface. But with the right tools, you have insight into what’s happening inside your oil wells and troubleshoot problems before they cause productivity issues. The faster you can address concerns, the higher your productivity will be.
If you’re considering implementing real-time drilling analytics into your drilling operations, contact us to learn more about our solutions.
