Weatherford releases new production optimization platform

HOUSTON -- Weatherford International announced the release of the ForeSite production optimization platform at the Weatherford Enterprise Software Conference. The ForeSite platform combines physics-based models with advanced data analytics to improve performance across wells, reservoirs and surface facilities.

This release is the first in a series of integrated software offerings that will combine proven Weatherford production optimization technologies with the internet-of-things, cloud computing and advanced analytics to enable complete asset management. The ForeSite platform is initially focused on improving the management of wells with rod-lift systems and will later extend to all forms of lift, as well as management and optimization at the reservoir and surface-facility levels.

“We are entering a new era of automation and digitization in the oil and gas industry,” said Oscar Rivera, V.P. of reservoir solutions at Weatherford. “By harnessing data from every corner of the asset, the ForeSite platform enhances visibility and predictability — empowering operators to make better asset-management decisions that maximize production while reducing cost per barrel."