Ken Olive, president of P2ES parent group, the Oil & Gas Asset Clearinghouse, spoke on the topic of technology in acquisition and divestiture projects, ‘Technology was supposed to make life easier, instead, today’s A&D transactions are still painful. Some 30% of data is incorrect and must be corrected before divestment—all in the context of increasingly high data volumes to be transferred.’
P2ES Rx
Enter P2ES’ new ‘Rx’ solution, a software-enabled due diligence service. Rx is built on the P2ES A&D Module, rolling in domain expertise from Tobin (GIS) and the Clearinghouse’s A&D know-how. The due diligence service confirms ownership, contractual obligations, verifies leaseholds, financials and can even locate missing wells and other contractual information. Production and financial due diligence challenges are also addressed in the process. The A&D module can be deployed internally or provided as a component of the Rx service. A standard data model acts as a temporary home for seller due diligence data and a toolkit is provided for data clean-up and validation prior to sale.
BHP Billiton
Importing SCADA and telemetry data into volume accounting packages like P2ES’ Enterprise Upstream can raise complex data format issues. A new P2ES tool, Electronic Data Validation (EDV) has been used by BHP Billiton to map, validate and import SCADA data to EU. EDV use begins in the control room to display and validate data for daily reporting and transfer to EU. Data is aggregated to a central EU instance in Houston from remote sites around the world (Trinidad, Australia, UK, Pakistan and GOM). EDV also acts as a temporary data store which can be cleared at a user defined interval.
Efficiency
EDV deployment made for significant time savings on facilities - saving around one person-year over 5 facilities. Data Quality has improved to an extent by reducing the number of transcription errors. Poor quality data is now more visible. One unexpected benefit was to highlight data that was being ‘corrected’ before leaving the facility.
Data Food Chain
EDV addresses many issues arising in the data food chain. If data issues such as poor or missing sensors are not tackled before they enter the production data chain they are hard or impossible to identify and fix. This can have disastrous consequences on operators from wasting time analyzing and modeling invalid data to causing incorrect appraisal and drilling decisions.
Standardization
EDV Implementation has reduced improved data accessibility by a 24 hours. Standardizing on one package has increased staff mobility and expert users in one facility provide 24x7 support to other facilities.
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