FracGeo launches its first cloud and subscription-based application for completion optimization using surface drilling data: pay-as-you-go DrillPredictor™

THE WOODLANDS, Texas, Feb. 5, 2019 /PRNewswire/ -- FracGeo announces the launch of its highly popular software module DrillPredictor™, as a cloud and subscription-based web service to put completion optimization in the hands of any unconventional reservoir operator. The field validated DrillPredictor™ technology uses commonly available surface drilling data from any contractor to provide the information needed to adapt any frac treatment to the variable subsurface geologic and geomechanical conditions.  

DrillPredictor™ uses FracGeo's proprietary Corrected Mechanical Specific Energy (CMSE) which accounts for frictional losses along the wellbore for any type of drilling equipment including RSS and mud motors. FracGeo's CMSE is used to compute unique products such as pore pressure, stresses, natural fractures, and geomechanical logs along the wellbore. These logs are then used immediately after drilling the well to provide multiple completion optimization strategies that are quantified with an estimated cluster efficiency, followed by the propped fracture geometry and the resulting depletion using FracGeo's advanced and fast frac design and reservoir simulation technologies. These estimations are validated with fiber optics, microseismic moment tensor inversions, and production logs. FracGeo clients routinely adjust their treatment parameters with confidence and successfully place all their fracs without increasing downhole risk and insignificant additional cost which is now lowered with the launch of this new cloud-based service.  

Peter O'Conor, VP of Marketing and Business Development says that: "DrillPredictor™ desktop technology received great feedback from many clients which prompted us to make it available to any operator through this new cloud and subscription-based application. A major advantage of the technology is its deployment on any well since it only uses surface drilling data thus requiring no additional expense or use of risky downhole equipment." O'Conor added, "additional benefits of the technology now include its low cost with the pay-as-you-go web-based service."

Ahmed Ouenes, CEO, says, "Improving the completions of unconventional wells has so far been achieved through expensive trial and error field experimentation. DrillPredictor™ new cloud-based pay-as-you-go service provides our clients actionable information to improve their completion at minimal cost, one well at a time."

About FracGeo

FracGeo provides Software empowering the science of unconventionals through Integration, innovation, and collaboration streamlined for the whole asset team. These solutions are deployed using FracPredictor™ software and include: sweetspot and landing zone selection, geomechanical modeling, adaptive asymmetric frac design, and well spacing optimization.  

SOURCE FracGeo

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http://www.fracgeo.com