New Offset Analyst App Saves Companies Hundreds of Thousands on Drilling
Major operator signs on as first customer and most recent partner in TourXchange drilling database
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 07/31/13 -- Calgary firm, XI Technologies Inc., announced their new Offset Analyst web-based software application will be commercially available tomorrow, August 1, 2013. The first of its kind in the industry, Offset Analyst eliminates inefficiencies and significantly minimizes the costs associated with well planning and . XI also announced they've recently signed an agreement that makes one of Canada's largest oil and gas producers the first official Offset Analyst customer, as well as the most recent participant in XI's TourXchange drilling information database. The name of that producer, and its drilling data, will be available to TourXchange participants by mid-month.
Offset Analyst is the first app to be powered by (pronounced "tower exchange"), a collaborative effort involving participating oil and gas exploration companies operating across all four provinces within the . TourXchange currently holds tour reports for some 100,000 wells across Alberta, BC, Saskatchewan and Manitoba, and that number is set to surge significantly.
"Traditionally, our clients spent significant time tracking down well tour data, and getting it into a format they could use for well planning, performance benchmarking or analyzing existing wells," said XI Technologies' VP of Drilling Services, Andy Newsome. "With Offset Analyst, they can now instantly access digital drilling tour data, easily export it to Excel and quickly evaluate it to make better, more efficient drilling decisions. Offset Analyst cuts days or weeks of drilling research down to a matter of hours. When you consider how many wells are drilled each year, that's a tremendous cost saving."
Offset Analyst provides a high-level snapshot of a well - everything from bit records, mud records and time log summaries, to drill curves and well comparisons. Within Offset Analyst, all the data that was captured at the well site is immediately accessible and summarized in digital form. Clients can view well tour information from over 80 operators and use Google Earth to quickly locate offset wells. The application is designed for small operators, large producers and service companies - anyone who works with and wants to save time. For complete information on Offset Analyst, visit .
"During our beta phase, one client told us they were having issues drilling an exploratory well. They used Offset Analyst over the weekend and decided to not trip the bit. They estimate that decision saved them at least one to two days, and approximately $80,000-$100,000," says Newsome. "We are pleased to have a major operator adopt the Offset Analyst application so early. They are market leaders and this is a market-leading tool. We're grateful for that show of confidence in our product."
About XI Technologies
XI Technologies Inc. (XI) is a privately owned company based in Calgary, Alberta, Canada. Formed in 2004, XI creates essential research tools for the western Canadian energy industry to help companies interpret data to make better decisions. Primarily focused on A&D research and drilling and completion programs, XI is committed to building exceptional, long-standing relationships with every engagement.
Contacts:
For more information or interviews:
XI Technologies Inc.
Andy Newsome
403-615-1567
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Datum: 31.07.2013 - 16:43 Uhr
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