Custom Software and SharePoint Consulting for Oil and Gas
Software is an unsung hero when it comes to the Energy Market and the Oil and Gas Industry. Custom software plays a key role at crucial moments throughout industry decision making. Here at Entrance, industry insight drives the custom solutions we develop. We have over a decade of experience tailoring our software to solve complex problems, whether they are broad in scope like helping smooth out large mergers or deep in detail like processing sensor data. We have industry experience from upstream geology and geophysics all the way to downstream chemical plant processes.
Geology and Geophysics (G&G) Software Solutions
We have done software consulting supporting every department in the E&P structure, and have also customized SharePoint to enable interdepartmental data synchronization, collaboration and decision making. To get started we’ll zoom in on Geology and Geophysics. Positioned at the very start of decision making, these specialists process and make decisions based on tons of real-time data. Our custom software provides data processing, visualization and simulation that are core to informed decision making. For example, we’ve created a custom solution for Spinnaker that helps them balance their prospect portfolio choices.
Risk Management Software
The oil industry began as a field of risk takers, and while that spirit of adventure and opportunity is alive and well, risk management has become a well-defined and careful art. Companies need to take chances on long shots in order to strike game-changing wins, but drilling is costly, so it’s not a decision that is taken lightly. Entrance created custom software for risk analysis that integrates the best data available with metrics to evaluate possible, probable and proven figures on a prospect basis, map out successes from a historical perspective, and split evaluation inputs to reflect risk differences in shelf and deep water prospects.
Benefits
Those who use P90, P50 and P10 know that the implications of reserve figures vary strongly based on where, along the spectrum of how sure geologists are of the reserves in a particular field, reporting is done and decisions are made. Our software provides a central place for team collaboration and peer review, and offers both look back and at a glance risk analysis. With our software, teams can determine whether their past advice and actions were too optimistic or too conservative, and can directly apply that insight to current decisions. Our metrics apply to both current and former prospects and range in nature from date of discovery to location, lease information and more. We also offer analysis split by shelf or deep water locations because not only are the teams associated with each type of prospect completely different, the risk calculations vary greatly. When looking into drilling on the shelf, the process is cheaper, likelihood of success is higher, but the quantity of raw hydrocarbon is usually low. When deciding whether to drill under deep water, the investment is much greater, and the chance of finding something much smaller, but if that reservoir is found, it is usually huge. Our metrics are customized to reflect this difference appropriately. As you can see our software has become an essential part of portfolio management when looking into drilling prospects.