TULSA, Okla., Nov. 14, 2018 /PRNewswire/ -- eLynx Technologies (elynxtech.com) today announces the launch of Predictive Analytics as a Service (PAaaS) for ESPs, marking the second time in eight weeks the company has introduced a groundbreaking predictive analytics product into the oil and gas market. The new product, which offers oilfield managers unprecedented maintenance forecasts about ESPs, empowers them to fix ESP problems before they emerge. The result — a dramatic reduction of costly downtime for ESPs, as well as the prevention of damaging events that demand extremely expensive ESP replacement and loss of production.
"With this revolutionary predictive maintenance release, we expect to save an average of $7,000 a month per well, with some savings rising to $13,000 a month," said eLynx founder and CEO Steve Jackson. "These estimates are based on proof of concepts we have been executing, and are further validated by our subject matter experts who bring more than 100 years of oilfield experience to the table."
The fruit of nearly two years of work by an expanding team of elite data scientists, PAaaS for ESPs finds its foundation in eLynx's vast and robust trove of oil and gas data, judged by a Big 4 auditing firm as the industry's finest.
All of eLynx's predictive analytics tools rely on computer simulations of how things behave in the real world, called "digital twins," to fully predict the behavior of individual lifts as well as hundreds of wells within an oilfield. The work so far has produced predictive maintenance products for plunger wells and ESPs, and in coming months eLynx anticipates releasing predictive maintenance products for rod pumps and gas lifts.
With these predictive maintenance products in place, eLynx will rapidly turn to delivering the industry's first predictive optimization applications. These extraordinarily powerful and complex optimization tools, which are built upon predictive maintenance technologies, will give oil and gas producers access to tools aimed at saving tremendous amounts of capital and dramatically enhancing efficiencies across the board.
The series of ongoing innovations are borne out of intense scientific and research achievements, but they also find deep roots in decades of close work with hundreds of industry partners.
"We understand the anxiety that comes with powerful ESPs — complications are highly disruptive and costly," said Samantha McPheter, eLynx Chief Product Officer. "As longtime and trusted oilfield partners, we always work to find ways to improve the lives of our many industry friends. Early on, we identified ESPs as a priority, and today we are thrilled to offer this breakthrough technology to the people and companies with whom we have forged such lasting and strong relationships."
To schedule time to speak with Steve Jackson, Samantha McPheter and members of the analytics team, please contact Douglas Brown: [email protected], 303-241-0141.