Industrial Internet of Things solution drives down operating costs, increases reliability for oil and gas industry
SAN ANTONIO – Dec. 6, 2016 – WellAware, the oil and gas industry’s only full-stack platform for oilfield monitoring and optimization, announced today the launch of the WellAware Integrated Radio and ControllerTM for oil and gas producers as well as a global distribution collaboration with Landmark, a Halliburton (NYSE: HAL) business line and a leading provider of E&P software.
“In today’s new norm of oil prices, oil and gas operators are more focused than ever before on streamlining operational costs and reducing downtime,” said Matt Harrison, president and CEO for WellAware. “Halliburton’s scale and oilfield service expertise, when combined with WellAware’s data collection platform, will help operators transform their business processes with real-time data.”
The collection of real-time data from remote production sites can help oil and gas operators significantly reduce production costs, increase operating efficiencies and minimize asset downtime, yet is often too complex and cost prohibitive for remote fields due to network, infrastructure or budget constraints. Traditional cellular modems and 900 MHz networks are prone to outages, resulting in insufficient data availability that often leaves operators with incomplete or stranded data and limited ability to optimize operational procedures.
Designed specifically for the oilfield, the Integrated Radio and Controller has a Class 1, Division 2 rating to meet hazardous location safety regulations and includes a “Store & Forward” feature to prevent data loss in the event of network disconnection. This Industrial Internet of Things platform is also available as Data Collection as a Service. Through this combined hardware and network offering, WellAware has further driven down the cost of automation by offering an affordable, subscription-based model that eliminates the need for capital expenditures.
Landmark has formed a relationship with WellAware to offer Data Collection as a Service within its DecisionSpace® Production 365 platform. First unveiled at LIFE2016, the Internet of Things solution “powered by WellAware” offers Landmark customers a complete offering to collect production data from the field and integrate information into the DecisionSpace platform.
Nagaraj Srinivasan, senior vice president of Landmark and Halliburton Digital Solutions, said: “Our collaboration with WellAware extends Landmark’s expertise and digital leadership into the field all the way to the wells. With simplified data accessibility and accuracy, operators can now make real-time, data driven decisions either autonomously at the edge, or in their offices with no capital outlay and no startup costs.”
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, the company has secured $61 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.