PetroReal-VIEW utilizes smart monitoring devices located directly in the field along with IoT technologies and the cloud to enable Investors to actively monitor the real-time daily performance of an asset after an investment is made. Unlike existing applications that are primarily used to remotely control well and infrastructure components, PetroReal-VIEW focuses on delivering real time business information on the economic condition of an asset using a cost effective and user-friendly interface to monitor key performance indicators.
For Operators, this application helps to quickly review the status of existing wells and their current performance as measured against Company plans. The automatic identification and prediction of Sick Wells allows for undertaking of rapid mitigation efforts to return such wells to planned performance levels or to shut the wells in as may be required. For Investors, this application not only allows for a daily valuation of their investment, it also provides insight on their Operating Partner’s ability to efficiently manage field operations.
My Asset monitors the following monthly KPI and can be customized to display the needs of its users.
Status of Identified “Sick” wells
LOE and Capital Costs
Current asset valuation
Sick Wells are automatically reported as Watch, Warning or Alarm Anomalies are identified by: •Field surveillance video or photo •Smart well sensors, meters, etc •Manually entered daily production related measurements
PetroReal-View's ability to track LOE, capital costs, historical production and forecasted future production, allows for the monitoring of an asset's valuation on a daily basis. Our application includes an internal decline curve analysis to provide future production forecasts. Decline curves can be calculated automatically or entered manually. Our automatic type curve algorithm includes event detection to address significant changes in a production decline trend.