AUSTIN, Texas, Sept. 5, 2018 /PRNewswire/ -- JP3 Measurement, LLC (JP3) is pleased to announce that it has received the Best Analyzer Technology award for 2018 by Hydrocarbon Processing magazine. The award, which was announced at the Houston ceremony on August 30, recognizes the high potential of the recently launched JP3 Digital Crude Signature technology.
The JP3 Digital Crude Signature (DCS) technology utilizes data from its Verax analyzer systems and software solutions to provide a composite picture of crude oil properties, including True Boiling Pointcuts, hydrocarbon composition, API gravity, RVP, and contaminants. The JP3 DCS allows downstream purchasers the ability to track individual batches of crude from point of purchase through transportation to refinery delivery. It further allows refiners to optimize blended crudes for each individual crude tower.
As noted in the Award Nomination, most contractual compliance of crude oil bought and sold uses a combination of crude origin and API Gravity to determine if a product received is the product originally purchased. However, API gravity does not provide traders and planners with the compositional specificity required to determine the true underlying value of the liquid condensate or crude oil being transacted. It also prevents a buyer from sourcing optimum crudes for its refineries, forcing the buyer to price contracts based on an outdated proxy or manual assays.
In addition to the JP3 Digital Crude Signature, JP3 provides a broad range of data analytics, compositional measurement and application solutions across the entire natural gas and crude oil supply chain with more than four hundred installations in North America.
About JP3 Measurement
JP3 Measurement, LLC, is changing the way the energy industry measures and processes oil and natural gas. Headquartered in Austin, Texas, JP3 was founded in 2005 and serves the oil and gas industry with analytical systems, advanced software, and data service offerings. JP3 products and services enable users to optimize both business and process results across the upstream, midstream and downstream segments of their enterprises. The company offers the industry's only field deployable, real-time, in-line optical analyzer for both liquid and natural gas measurement. JP3's use of leading-edge laser spectroscopy technology and advanced chemometric modeling techniques, enable real-time data on the composition and physical properties of the crude oil, NGL and natural gas produced, processed, transported and sold by the oil and gas industry. This technology is further supported by a suite of data visualization, statistical analysis, and control and optimization tools available through any internet enabled device. JP3 has plans to launch data subscription services and advanced software applications to further leverage the foundation of measurement technologies currently delivered.
SOURCE JP3 Measurement, LLC