Emerson and QRI Launch Cloud-Native Analytics Software for Reliable Reservoir Opportunity Identification
Emerson Press Release • 12/01/2020
HOUSTON, Texas (December 1, 2020) – Emerson announced today the launch of SpeedWise® Reservoir Opportunity, a fully automated, cloud-native reservoir analytics solution developed in collaboration with Quantum Reservoir Impact (QRI). The software is unique in how it applies advanced algorithms, data mining and workflow automation to cut the amount of work required to identify field development opportunities from months to weeks. The comprehensive solution helps oil and gas companies achieve greater return on investment by shortening decision-making cycles and delivering better risk management.
“In today’s turbulent marketplace, our goal is to give customers meaningful analytics to maximize efficiency, optimize reservoir management, and promote digital transformation across the exploration and production landscape,” said Steve Santy, president for exploration and production software at Emerson. “By combining the power of analytics with deep oilfield expertise, SpeedWise Reservoir Opportunity provides oil and gas operators with the knowledge needed to better identify opportunity criteria and develop more reliable field development planning.”
The SpeedWise Reservoir Opportunity solution features automated geo-engineering workflows for identifying and ranking recompletion, vertical sweet spots and horizontal wells. By analyzing historical field performance and benchmarking against analog assets, the flexible framework intelligently picks the optimal parameters for the identification process, tailored to address the unique geological and engineering challenges posed by each field.
“SpeedWise Reservoir Opportunity is digital transformation at its best, allowing asset teams to become hyper-efficient in managing reservoirs. Oil and gas professionals can now identify field development opportunities with 10 times the speed and accuracy compared to present industry norms. Using AI, advanced analytics and automation of complex workflows to deliver capital savings – that is a game changer,” said Dr. Nansen Saleri, Chairman and CEO, QRI.
Using SpeedWise Reservoir Opportunity, reservoir teams can break down multi-disciplinary silos to help mitigate missing and incomplete data for more confident development planning. The software provides a secure cloud-based environment, resulting in much more efficient teamwork, where reservoir teams can collaboratively visualize and analyze ranked opportunities. Once ranked, results can be accessed through an interactive visualization dashboard for collaborative analysis and validation.
SpeedWise Reservoir Opportunity is licensed as a software as a service solution, accessed online via subscription. Emerson is the exclusive global distributor for this application.
For more information about SpeedWise Reservoir Opportunity, visit www.emerson.com/SRO.
Click here to view a presentation about SpeedWise Reservoir Opportunity.
QRI's SaaS solutions are hosted on Amazon Web Services (AWS). For more information about SpeedWise®, visit QriGroup.com/SpeedWise.
Find out more about QRI offerings and technologies - Investor Relations.