SAN ANTONIO, July 28, 2015 /PRNewswire/ -- WellAware, the oil and gas industry's only full-stack solution for oilfield monitoring and optimization, announced today the launch of WellAware Chemical Management and WellAware Chemical Optimization products. Designed for E&P and chemical service companies, the new products reduce operating costs, minimize pump and well downtime, and optimize production.
"Our customers asked us to help them more effectively manage their production chemical programs. It's a huge opportunity – both to increase production and significantly reduce operating costs, as production chemicals are typically one of the three highest expenditures for an operator," said Matt Harrison, CEO for WellAware. "WellAware's Chemical Management and Chemical Optimization solutions streamline chemical management processes so that operators and chemical service companies can spend less and implement more effective programs."
Traditionally, monitoring of chemical tanks and pumps has been a completely manual process. Technicians drive to each well site to check the status of the treatment and frequently find issues including low tank levels, leaks, inoperable pumps, and over/under target injection rates. These issues result in not only high labor, transportation, and chemical costs, but also significantly impact downtime and production levels.
"For example, low injection of paraffin inhibitors or H2S scavengers can increase required well remediation treatments and well shut-ins, preventing operators from hitting their production targets," added Harrison. "WellAware helps address these challenges by providing reliable data collection, exception-based monitoring and control, and actionable analytics. Chemical tank level and pump operating data is collected via remote telemetry using our heterogeneous communications network, which supports multiple wireless standards to ensure availability in all regions. This unique data visibility allows operators to monitor chemical equipment and inventory as well as receive alarms when issues arise, such as low tank levels, system leaks, insufficient pump voltage, and insufficient injection rates."
WellAware's Chemical Management and Chemical Optimization products allow users to monitor and control assets both by the web and via mobile iOS and Android apps, which ensure technicians can take the appropriate actions no matter where they are in the field. The products also provide configurable chemical usage reports and dashboards so that operators and chemical service providers can analyze the effectiveness of their chemical management programs and identify necessary changes. Current chemical injection rates can be directly compared to latest production levels, and new recommended injection rates are provided to reflect changes in well conditions. This new level of transparency enables operators and service providers to ensure they have the most effective treatment program to optimize production at the lowest possible cost.
"Our full stack solution, including the network, software, and hardware, is a key enabler to simplifying and automating the chemical management process," noted Harrison. "Coupled with the ability to correlate chemical injection rates to changes in production levels, our customers now have another way to respond to these challenging market environments."
For more information about WellAware's Chemical Management and Chemical Optimization solutions, go to www.wellaware.us.
WellAware, a data analytics company for the oilfield, enables upstream, midstream, and chemical service companies to reduce operating expenses, minimize downtime and ensure safety and regulatory compliance. Our full-stack solution provides reliable data collection, exception-based monitoring, and actionable analytics. Based in San Antonio, Texas, the company has secured $45 million in investment funding and built a world-class team of management and advisors from the oil industry. To learn more about WellAware, please visit www.wellaware.us.