(Houston, USA) – Thursday, 27th September 2018 – For the first time, players in the unconventional market will be able to access near real-time completions with SatScout – a brand new service from Westwood Global Energy Group (Westwood) that identifies pad construction, drilling rig on location, and frac spread on pad for the Delaware and Midland Basins in the Permian.1
SatScout is led by Boyd Skelton, Vice President of Operations for Westwood. He explained; “The volatility of commodity prices makes company performance targets important. Knowing when a frac spread is onsite is critical for our clients. The frac supply chain is opaque and our service lifts the fog of reporting to show near real-time completions. There are numerous sources for frac spread, horsepower, or frac crew data but no one can provide the transparency to the well and operator that SatScout provides.”
Using daily satellite imagery, machine learning, and the Westwood team of analysts, SatScout can identify when an operator has constructed a pad, rigged up for drilling, or started fracturing the well with a frac crew. Critically, SatScout provides notifications of activity for public and private oil and gas operators before the information is reported in quarterly earnings, investor presentations, or via state regulatory organizations. Plus, equity analysts use the notifications to anticipate movement on specific operators.
At the end of August, for example, SatScout showed a decrease in active frac crews located in the Permian Basin. The proprietary data showcases operators fracking on the fringes of the shale plays like Anadarko Petroleum along with other operators in the core of Delaware and Midland Basins.
For the second quarter of 2018, SatScout identified:
- Diamondback Energy completed 43 wells with no previous company guidance
- Parsley Energy completed 25% more wells than the company stated during Q1
- Cimarex Energy fell short of their completion guidance by 28%
- Energen Resources completed 86% more wells than announced previously.
Westwood’s daily monitoring of the Permian Basin provides visibility into the number of frac spreads, well completions, and operator activity for the world’s most prolific oil growth region. Boyd Skelton added; “To date, no one in the industry has data or the methods to track frac crews across all basins. SatScout provides a bi-monthly view of frac crews with the granular data that links the frac crew back to the wells.”
For further information or to book a demonstration please visit http://energentgroup.com/satscout-proprietary-well-completions-data or contact Todd Bush, Westwood Global Energy Group. Telephone +1 281 846 4425 or Email email@example.com .
– Ends –
Issued on behalf of Westwood Global Energy Group by Flourish PR Ltd
For all media enquiries or to arrange an interview please contact: –
Notes to Editors
1 Oil production in the Permian Basin reached 3.5 million barrels of oil per day, a 22% increase year-to-date in 2018. With 3,630 drilled but uncompleted wells (DUCs) as of September 2018, the Permian is poised for future growth despite the myriad of bottlenecks and constraints.
About Westwood Global Energy Group (Westwood)
Westwood Global Energy Group is a leading provider of research, data analytics and consulting services to the global energy industry. Whilst we focus primarily on intelligence and insight for the worldwide exploration and oilfield services markets, our coverage also extends to the offshore renewables and power generation markets. Our analysis is independent, comprehensive and based on deep sector knowledge.
Westwood Global Energy was formed in January 2015 by Energy Ventures, an energy specialist private equity firm with a vision to build a leading player in the business intelligence and data analytics space. Following an active period of acquisitions, the group has combined the operations of Hannon Westwood, Richmond Energy Partners, Novas Consulting, Douglas-Westwood, Energent Group, RigLogix, and JSI Services. Westwood Global Energy Group is headquartered in Aberdeen and has offices in London, Houston and Singapore.
To learn more, please visit www.westwoodenergy.com
Energent Group is a market research firm focused on well life-cycle & frac market intelligence—how much sand operators use, who’s pumping, what they’re pumping. We help sales & marketing teams commercialize new products, work with up-to-date operator data, & track well completions in top U.S. shale plays. Energent became part of Westwood Global Energy Group in April 2017.