Operators Improve Drilling Efficiencies with Verdande's DrillEdge Mud Motor Failure Capability

HOUSTON - Jan. 23, 2014 - PRLog -- Verdande Technology (http://www.verdandetechnology.com/), a provider of real-time predictive analytics decision management solutions, today announced the launch of DrillEdge™ mud motor failure capability. Operators will benefit from the hindsight, insight, and foresight needed to increase drilling efficiency and deliver wells consistently within prescribed times while minimizing downhole risks.

DrillEdge uses predictive analytics such as Case-Based Reasoning (CBR) to identify key indicators of potential mud motor failure and to take action before drilling operations are impacted or costly tool damage occurs. DrillEdge monitors for early symptoms of damage sustained ahead of an outright failure by relating Mechanical Specific Energy (MSE), a well-established downhole drilling performance efficiency metric, to accumulated downhole tool stress.

“This solution became a focus for us after we began looking for new ways to benefit factory drilling operations beyond our existing NPT solutions.  When looking at prevailing NPT in factory drilling operations to successfully automate and optimize that type of drilling, we found that the continuous efficiency created required that drilling optimization solutions in our software be developed to assist in cost control and performance improvement.  We plan to expand our drilling optimization portfolio this year,” said Philip Wade, COO, Verdande Technology. “We recognize that land operators are increasingly turning to factory drilling principles, and as such our solutions need to be focused on how best to complement those principles to mitigate downhole tool damage, such as mud motor failure.”

“Hess Corporation identified one form of drilling dysfunction that can lead to “microstalling” induced by an improperly configured auto driller, which can cause 2-15% reduced drilling efficiency per stand, motor failure (chunking), and other BHA failures adding up to approximately $150,000 per incident,” said Matthew Isbell, Drilling Optimization Advisor Well Technology, Hess Corporation.  By using DrillEdge to indirectly measure microstalling, Verdande Technology helped us identify future mud motor failures before they occurred.

Verdande Technology and Hess Corporation are offering a complimentary webinar discussing the success in preventing mud motor failure on January 28, 2014 at 10:30 am CST. The webinar will discuss:

·         Early warning signs that can contribute to motor failure

·         Intervention techniques for mitigating motor failure

·         Proven results applied for Hess in the Bakken

DrillEdge delivers real-time predictive analytics to provide decision management solutions that lower risks and reduce non-productive time (NPT) while improving drilling performance. DrillEdge uses an index of data to monitor for issues related to hole cleaning / stuck pipes, lost circulation and hole ballooning, twist-off, bit damage, gas trends, drillstring washout, differential sticking, and motor damage. It allows firms to understand normal activity and make better, smarter, and faster business decisions.

About Verdande Technology

Verdande Technology AS was founded in 2004 and is headquartered in Trondheim, Norway, with regional offices in Houston, Abu Dhabi, UAE and New York. The company is privately funded through Investinor AS, ProVenture Management and Statoil Technology Invest.

Verdande Technology provides real-time decision management and surveillance solutions to enable organizations to minimize risk and make better, faster decisions by turning their data into actionable intelligence. The company’s VTEdge platform is powered by Case-Based Reasoning (CBR) and is based on the principle that similar problems have similar solutions. A continuously learning system, Verdande’s analytics solution maximizes big data performance by identifying, capturing and analyzing patterns in risk and operational data in real time. It uses past events to proactively predict future problems, rapidly diagnose and correct issues to drive business growth and efficiencies. www.verdandetechnology.com

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Media Contact

Diana Kearns-Manolatos

Articulate Communications Inc.

Phone: 212.255.0080, ext. 12
Email: verdande@articulatecomms.com