Weatherford releases production optimization software
HOUSTON -- Weatherford International plc today announced a new software release for its ForeSite production optimization platform, which combines physics-based models with advanced machine-learning data analytics to improve performance across conventional and unconventional oil and gas assets. The new release builds on the platform’s existing capabilities, which include optimization support for reciprocating rod-lift systems, by adding support for gas-lift and electric submersible pump (ESP) systems as well as naturally flowing wells.
The platform was introduced in May 2017, marking the first in a series of integrated software offerings that combine proven Weatherford production optimization technologies with the Internet of Things, cloud computing and advanced analytics. By providing support for a broad array of production methods and the ability to optimize an asset from well to surface facility, the platform helps operators to identify and prioritize production optimization opportunities. All software seamlessly integrates with the CygNet SCADA platform to create an end-to-end production optimization solution.
“By extending the capabilities of the platform to naturally flowing wells, gas lift and ESP systems, we are enabling operators to better manage diverse asset types, including offshore and unconventional fields,” said Kyle Chapman, president of production at Weatherford. “The ForeSite platform provides the analysis and information that operators need to make better, faster decisions for effective production performance management, maximizing production and reducing the cost per barrel.”
