Oil and Gas Wells – Lifecycle Data from Peloton Powered by Snowflake

What does it mean to be ‘Powered by Snowflake’? For Peloton Computer Enterprises, an industry-leading oil and gas software solution, it has meant providing its customers with fast, secure data insights while leveraging a modern data infrastructure that is flexible and scalable.

Recent geopolitical turmoil and inflation have demonstrated once more how dependent the global economy is on oil and gas. A big challenge for our energy mix remains reliable access to sustainable and affordable energy for everybody on this planet, both today and for the next generations to come.

Data documenting the well lifecycle

To extract oil and gas from developed reservoirs, industry experts drill wells in various sizes and types. Such a project may cost hundreds of thousands to millions of dollars. The return on this investment depends on how the operator masters the subsequent production, ensuring maximum safety and the lowest possible risk to the environment. This is not an easy task.

Typically without servicing, well output declines at an average rate of 20% annually, estimates Rystad Energy. Yet with service activities, workovers, and the right ongoing performance optimisation, wells remain in operation over an average of 20-30 years and beyond as reported by the Canadian Association of Petroleum Producers (CAPP). 

According to Peloton, the company holds information on nearly 80% of wells from over 600 clients worldwide. These clients rely on complete, accurate well data files to keep track of changes and document operational data throughout the well lifecycle, from planning to plug and abandon. Each well is described by massive amounts of data. Peloton’s cloud-based solution, the Peloton Platform, houses their best-in-class solutions, WellView Allez, ProdView, SiteView Allez, RigView, and LandView. These products are powered by Snowflake on Microsoft Azure with many benefits: a sophisticated data model, real-time integration capabilities, trusted data analytics, and comprehensive visualisation that support their customers managing their workflows. 

Working with massive data sets

To go further and gain insights for optimising production, APIs are insufficient as data sets are normally too large for mass data extracts. Because of this, Peloton shares critical well data exclusively via Snowflake under strict governance. Configurable privacy schemata at a fine granular level ensure that data sharing is secure, and privacy is maintained.

In cases where Peloton customers are already on their own Snowflake journey, they may include well data from Peloton without the extra effort to copy or clone data into their own instance, for example to combine it with sensor data; measurements about downhole pressure, temperature, strains, and acoustics are used to monitor reservoir conditions in near real time. Conditions change over time and in combination with well lifecycle data, advanced analytics reveals patterns and supports decision-making, such as when to adjust extraction volumes and production allocation, or to balance intervention cost with well integrity and risk. More data adds value when handled efficiently at scale.

Both Peloton and customers benefit from Snowflake’s best-in-class performance and scalability for any workload. Storage is optimized, compute clusters are available in just under a second, and charges occur only based on what is actually used. It allows Peloton’s engineering and product teams to spend more quality time on activities relevant to the business, such as continuously enhancing functionality for geological prognosis, well planning, regulatory reporting, drilling operations, geology operations, completions, or well operations.

Ready to learn more?

To learn more about the Powered by Snowflake program and how organizations are building on Snowflake, click here. View a complete list of the Powered by Snowflake Manufacturing partners here. 

The post Oil and Gas Wells – Lifecycle Data from Peloton Powered by Snowflake appeared first on Snowflake.

LATEST ARTICLE

See Our Latest

Blog Posts

admin July 15th, 2024

In an increasingly interconnected world, where technology drives every facet of life, even the weather predictions we rely on may […]

admin July 10th, 2024

There is a scene in Mission: Impossible – Rogue Nation where Tom Cruise is hanging onto the outside of a […]

admin July 10th, 2024

Regulated and sovereign markets across the world have stringent requirements stipulating certain important data be kept within geographical borders or […]