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Improve Asset Reliability with Oil and Gas Analytics

Equipment breaks down.

Especially on drilling sites. But what if you could improve asset reliability with the oil and gas analytics you already generate?

You can. In fact, the top drilling companies are extending asset life and reducing non-productive time, just by using their own drilling data in tandem with new technologies. Today, forward-thinking companies are improving asset reliability with three types oil and gas analytics.

Improve Asset Reliability with Oil and Gas Analytics | Turnco
  • Real-time Analytics – where instantly accessible data analytics can determine drilling decisions
  • Predictive Analytics – where predicting equipment operation drives proactive decisions
  • Historical Analytics – where past equipment performance and KPIs influence your drill plan

In this post, we’re breaking down how operators are improving asset reliability with oil and gas analytics. Plus, a whole host of other time-and-cost saving benefits.

Optimize Drill Plan with Real-Time Analytics

With real-time drilling analytics, operators gain instant visibility into managed properties, the geology of those regions, permitting and title information, and more – everything you need to execute a quality plan for drilling.

These analytics let operators update drilling operations to improve asset reliability in real-time. No more waiting for offline data analytics. No more short maintenance times. Now, operators have more time and data to address drilling challenges before equipment fails, saving thousands of dollars by avoiding non-productive time (NPT) and invisible lost time.

Improve Asset Reliability with Oil and Gas Analytics | Turnco

Real-time analytics offer greater benefits through:

  • Longer maintenance windows
  • Address subtle equipment variations
  • Early warning notifications of potential issues
  • Reduced maintenance costs with better planning
  • Parts can be ordered earlier, without rush fees
  • Longer periods of continuous operation
  • Identify underperforming assets
  • Increased asset utilization

Preventative Maintenance with Predictive Analytics

With deep data insights, predictive analysis becomes a more powerful tool for every operator and drilling engineers. At Turnco, we’re helping clients analyze each piece of equipment and every well to identify when tools fail – for every basin, even every wellsite.

Drilling in the Permian? With a few clicks, you can determine the optimal condition for your equipment and environment. You can predict surface and down-hole equipment failures and instantly determine which parameters to modify to avoid NPT. Best of all, you can identify asset reliability – just with the data you’re generating.

Let’s pause here – because preventive maintenance isn’t the only step you should be taking to extend asset reliability.

Improve Asset Reliability with Oil and Gas Analytics | Turnco

Why? Because only 18 percent of asset failures had a pattern that increased with use or age, according to ARC Advisory Group (Rio, 2015).

So, solely relying on preventive maintenance won’t stop the other 82% of asset failures. That’s why we couple preventative maintenance with historical analysis.

Process Improvements with Historical Analytics

If you combine historical analysis with predictive analysis, you gain a more complete view of equipment reliability. Here’s why.

Predictive analytics platforms can tap historical operational signatures for each asset. Then, the platform compares these signatures with real-time operating data to identify subtle changes in asset behavior. The kind of minute changes that operators and drilling engineers can easily overlook.

Even better, these minute fluctuations are spotted significantly earlier than standard operational notifications. This gives you more time for analysis and corrective actions.

But what software can integrate these three data sets? Turnco’s D90 Quality Process.

That’s the power of our three analytic views. Like we just saw, real-time, predictive and historical analysis integrate, giving you a definitive, actionable data set to improves your asset reliability.

The D90 Quality Process grants access to real-time, historical, and predictive analysis – all integrated seamlessly into a cloud-based BRITE™ portal. You can access the platform easily, from any device, so you can immediately identify unreliable assets and predict tool life.

Plus, you can compare cradle-to-grave tool data with industry averages. We even added a feature that ensures every tool ordered to your drill site is permitted by your standard operating procedures. This eliminates the chance of ordering the wrong tool or equipment.

D90 Proces | Turnco
D90 Proces | Turnco

The Best Part: No up charge – D90 is entirely data and cost neutral.

Want more info on the D90 process? Read our D90 blog to see the platforms full capability.

See the power of D90 for yourself – schedule a D90 demo for a complete walkthrough.