Listen to this articleTo say Drillinginfo has come into its own in oil and gas analytics would be an understatement. The company has made a name for itself by delivering business critical insights through a state-of-the-art SaaS platform built on industry-leading data and analytics. The focus? Helping companies in the energy industry make better, faster decisions.
Drillinginfo’s solutions deliver value across the energy supply chain, empowering exploration and production, oilfield services, midstream, and financial services companies to be more proactive, efficient, and competitive. Their suite of products and services accelerates decision-making and lowers the cost of identifying the best opportunities, understanding macro and micro market trends, and reducing the risk of energy investments.
As a trailblazer in the data and analytics space, they are clearly dedicated to innovation and to providing new ways for their customers to outpace their competition and lead in their respective industries. And when companies in oil and gas are looking to do more with less, Drillinginfo is often their answer.
Below is our interview with Jimmy Fortuna, SVP of Product at Drillinginfo:
Q: You’ve recently acquired DataGenic; could you tell us more about that transaction?
A: The power of data has changed the world, but also brought unintended consequences with it. Nearly every industry worldwide has seen an explosion in data use, but many struggle in how to fully interpret and utilize it, creating a need for effective data management tools and solutions. This problem is compounded for the energy sector due to the nature of their high-stakes, time-sensitive environment.
On Oct. 4, 2017, we announced our acquisition of London-based DataGenic, a global leader in software solutions for enterprise data management and business process automation. DataGenic services oil, gas, power, commercial and industrial clients globally and specializes in data-agnostic technologies and complex forward-curve construction.
In many ways it was a natural fit. Drillinginfo’s expertise in providing real-time market data through our MarketView platform is highly complementary to the products and services of DataGenic.
The combination of Drillinginfo’s MarketView platform and DataGenic’s real-time curvebuilder and data management tools will allow customers to manage their complex data assets, and will provide intelligent data analysis, unrivalled market insight and data discovery opportunities. This data-driven approach to market analysis will help remove subjective tendencies and identify clearly what actions, and when, need to be taken.
While commodity trading is DataGenic’s primary focus today, the extensions for DataGenic’s technology are exciting. Applying artificial intelligence technology across Drillinginfo’s rich databases to extract insights for energy markets will result in improved predictive models for new activity and identification of cost savings in drilling and completion.
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Q: What kind of products do you offer to your clients?
A: The breadth and depth of Drillinginfo data and actionable intelligence make us the only provider with an end-to-end solution that allows customers to:
• Identify underperforming assets and prime acquisition targets
• Understand market trends and performance across different regions and operators
• Track the majority of the active U.S. rig fleet via GPS units
• Run specific forecast scenarios and predict future production
• Better understand over 500 break evens across the U.S.
• Monitor price movements and manage and assess risk through trading operations
Drillinginfo offers a suite of products and services over mobile, web and desktop platforms that provide the predictive tools and technology to forecast the price of oil, natural gas, and natural gas liquids, drive energy exploration decisions, as well as evaluate rapidly evolving markets. Below is an overview of our most well-known products:
• DI BASIC
DI Basic delivers comprehensive oil and gas production data, reports, alerts, and analytics tools.
• DI COURTHOUSE
DI Courthouse is used to run title searches with a searchable, digital database reducing in-person visits to courthouses across the U.S.
• DI INTERNATIONAL
DI International offers the most holistic view of the global oil and gas industry.
• DI RIG ANALYSIS
DI Rig Analysis tracks the movement of drilling rigs across the U.S., which is a regarded as one of the leading industry indicators of oil and gas activity and growth or contractions.
• MARKET INTELLIGENCE
Market Intelligence leverages state-of-the-art proprietary databases and analytical tools to provide users with detailed market intelligence for investment in crude oil, natural gas and NGL markets.
• MARKETVIEW
MarketView delivers real-time and historical energy and agricultural market data, analytics, risk management, and data management tools
• MINERALSOFT
MineralSoft incorporates Drillinginfo data to help organizations better manage their properties and portfolios of mineral interests and helps identify royalty underpayments and prepare mineral portfolio insights and analytics in real-time.
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Q: Why is now the time for a technology solution like Drillinginfo?
A: Customers use Drillinginfo’s built-in analytics and content to make fast observations that would otherwise be impractical. Businesses, governments, and other institutions leverage these observations to quickly identify opportunities, contain risks, and gain efficiencies. These relate not only to optimizing business operations, but gaining the insights to immediately understand and directly impact the value of many customers’ assets as perceived by financial markets. It is rare for the utility of a product to be so clearly connected to maximizing a customer’s enterprise value, but this is exactly the case with Drillinginfo’s offering.
Q: What are your plans for the future?
A: Drillinginfo services over 3,500 companies from its Austin, Texas-based headquarters with more than 500 employees world-wide. Drillinginfo has helped redefine how the industry functions, and we continue to innovate to solve new and valuable problems. Looking forward, the energy industry is ripe for the opportunity to leverage technology like artificial intelligence to improve efficiencies and profitability, especially in a low price environment. We see a lot more value getting unlocked.
