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.
About WellAware
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.
CONTACT:
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Danielle
Urban
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Pierpont
Communications
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512-448-4950
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durban@piercom.com
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SOURCE WellAware