In these volatile and uncertain times, it can be difficult for exploration and production (E&P) companies to focus on long-term gains in subsurface and drilling. To improve and shorten decision-making processes, minimize risk, and create value, oil and gas companies should turn to a reliable, though perhaps under- recognized ally: liberated, contextualized data. This includes structured data, such as seismic, well, and geospatial data, but also unstructured data, information found in sources such as documents, images, reports, and spreadsheets.
The biggest challenge with subsurface data, whether structured or unstructured, has always been that it is typically stored in legacy applications, proprietary databases, and complex folder structures located on internal drives, making the search for critical information a time- consuming -- if not impossible -- process. But thanks to cloud-native technologies, the oil and gas industry now has the capability to retrieve unbiased information exposed by structured and unstructured data fused together. This combination can improve myriad processes, from exploring new areas to planning new wells to creating rig activity plans, among many others.
Ultimately, competitiveness in the digital industrial future will require data deftness. Companies must put their data to work, powering solutions that solve traditional pain points and answer the needs of their workforce. The companies who seize the mantle as digital frontrunners will have the greatest influence over their respective fields. Whether in exploration, field development, or drilling, digital technology powered by liberated, contextualized data can help the upstream industry make trustworthy decisions that save time and costs. This paper explains how.
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