Today, every industry, including the energy industry, is using data to gain insights and improve operations. While other sectors may have been faster in determining how to analyze and leverage data, however, the energy industry has lagged behind them. Collecting data may be one of the first initial steps, but the real value of data is discovered after it is analyzed and used to draw insights that help forecast future performance. As the energy sector begins to fully embrace analytics, it is benefitting in numerous ways.

Data can be used in oil and gas management in a variety of ways. For example, it might start with the search for new oil sources in the field. Geologists take samples of possible new sources and record several samples that are entered into datasets. Those datasets are then cleaned and analyzed to determine the location of potential new wells. Once drilling is underway, engineering and drilling crews analyze the depth and location of gas and oil layers. This will make the wells operate more efficiently.

The majority of wells produce oil through fracking, which involves pumping liquids under high pressure into the layers of oil or gas. Monitoring all of the data throughout the process can be used to analyze the well’s efficiency and production.

The energy industry, especially the oil and gas sector, is highly connected to infrastructure. This is another area where data management can benefit. Using analytics for infrastructures such as wells and pipelines can be a valuable tool in predicting maintenance. It will help determine what pieces of equipment are likely to fail or require replacement. Determining when equipment might need repairs will help energy companies manage costs.

At the refinery crude oil is distilled and cracked, then data is gathered that includes: the amount of crude oil received, where it was produced, and how much different petroleum products are created. Measuring the quality of production can help guide the refinery and adjust its procedures. That data can also be used to improve processes at other refineries as well. If you are interested in learning more, the attached infographic below, How Digitalization of Data is Changing the Energy Industry describes more about this.

Infographic created by Resource Energy Solutions, an oil and gas software provider

Rich Seigel - Author

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