When oil prices rise, you only have time to focus on one thing: production. The oil and gas industry experiences a lot of change throughout the year. And when opportunity strikes, you need to make quick decisions.
So, what about keeping operations running during oil booms? That’s where well monitoring becomes important. Because if you have a solid system in place, it means your engineers can focus on production optimisation. Not on which wells have an issue.
Curious? Here are three reasons why well monitoring should be a key strategic priority, and how it can help improve productivity and efficiency. Even when all you can focus on is getting more oil out of the earth.
1: React to integrity issues faster.
During production booms, your engineers have one goal: get resources out of the ground. So what happens when a well has an issue?
If you don’t know which well has a problem, your team has to figure it out. And that can cost a lot of time. Time that your team doesn’t have, when you’re trying to focus on production.
When you have a good well monitoring system, you’ll immediately know which wells need attention, and when. That’s key, because you want to send the right engineers to the right place at the right time. Not leave them in a field, scratching their heads, trying to figure out which well needs servicing.
2: Optimise production with data (even on low-producing wells).
Sure, production is important. But you know what makes a big difference? Optimising your production with data. Well monitoring makes that possible (even on low-producing wells, or those in remote areas.)
If you want to optimise production, you need data. And that data needs to be regular, reliable, and accurate.
Connected wells (those with some sort of monitoring solution in place) can use data to adjust their operations by the hour. So if you notice you are far off from your production target, you can use data to figure out why. Then, with that knowledge in hand, you can change your operations to get back on track.
Unconnected wells (those without any well monitoring solution, around 90% of the world’s wells, by the way), get stuck without data. At most, companies may check a well once a day. At worst, companies can go weeks between well checks. In either case, your business has lost time on a well that could have been producing more.
3: Save your team’s time.
And keep them safe, by keeping them out of dangerous situations. And save money, by eliminating unnecessary travel costs created by visiting wells without a clear plan. When you have a solid well monitoring system in place, there is a lot that can be saved, really. Well monitoring is an easy win because it brings you regular data. Data that your team can use to diagnose problems. Figure out how to solve them. And move on. Without hassle.
Got remote wells that need monitoring?
HiberHilo might be the right tool for you. Click the button below to download the product kit and learn more about how HiberHilo takes away the stress of integrity monitoring so your team can focus on production optimisation.