OKLAHOMA CITY, Dec. 11, 2018 /PRNewswire/ -- Oseberg, a leading SaaS and data intelligence company in the oil and gas industry, announced today that it has acquired a new dataset that offers extensive coverage of oil & gas production volumes from wells within the state of Oklahoma. The new dataset is now available through a subscription to their Atla product, and complements their existing lease, regulatory, well and frac datasets to provide a comprehensive view of Oklahoma E&P activity.
"The industry has long suffered from sparse reporting of production data and lag times due to the nature of public records and filing systems. It's quite challenging to obtain accurate, complete and timely volumes especially in Oklahoma," commented Rich Herrmann, Director of Product. "We recognized the value of this dataset because of how quickly new wells and production results are added - three to four months earlier than standard OTC filings for most oil wells."
The production dataset was acquired from Kansas-based PetroBase, an oilfield software solutions provider that creates automated workflows for petroleum engineers including normalized plots, decline curve analysis and well economics. Due to the meticulous nature in which this dataset has been accumulated, validated and reported, reservoir engineers, petroleum geologists, landmen and economists evaluating Oklahoma hydrocarbon assets will be able to assess regional trends and gain invaluable early insight into newly producing wells. This will undoubtedly help Operators optimize their drilling and completions strategies against peers, but more importantly will provide early indication of which formations or new areas look the most promising.
Evan Anderson, CEO of Oseberg, said, "This acquisition raises the bar on benchmarking and offers a significant first mover's advantage for companies looking to develop lucrative Oklahoma shale plays like the Merge, SCOOP/STACK and Arkoma. Every operator and financial analyst wants to understand how to improve performance, and the best way to do that is to analyze the tangible results - the production volumes from new wells. You simply can't afford to be the last one to know and then miss the next big shale play."
To learn more about how Oseberg can help transform unstructured data into actionable insights, please contact them at https://oseberg.io/resources/contact.
Oseberg is a next-generation oil & gas information and data analytics company that offers a compelling new approach to rapidly convert public regulatory and county-level data into actionable intelligence. We aggregate the most inaccessible state, federal, and county records and deliver them to our users via a suite of all-encompassing B2B SaaS products that enable our users to search, map, mine, and perform statistical analysis on every strand of data. Our technology reduces weeks and months of work to hours and seconds, empowering our users to rapidly uncover leasing, drilling, enhanced completion, and acquisition opportunities.
Contact: Rich Hermann, email@example.com