RIMBase Insights

An important measure of well performance is the time and costs taken to perform certain repetitive operations during the life of a well or over a specified time frame. As companies strive to cut costs and maximize operational efficiency they have found that this is one area where gains can be made. Experience indicates that there can be a wide range in operational performance for similar tasks based on variables such as rigs, vendors, rig crews, proper planning and anticipation of likely problem areas. Typical questions from management might be “What is the cost per foot to drill lateral sections or the time from rig release to first sales”. To allow management to gain visibility and understanding of these critical areas of performance requires the use of key metrics. To meet this requirement Infostat has developed the RIMBase Insights plug-in module.

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RIMBase Insights is an analytics platform designed to leverage the value of RIMBase data to allow both novice and advanced users to measure how each well performs certain repetitive operations over a given time frame and how it compares with other similar wells. RIMBase Insights can be used to establish a baseline level of performance metrics for each defined performance category against which future well performance can be measured. RIMBase Insights allows wellsite users to easily enter performance related data as part of the daily reporting process while providing the operational management team with powerful output reporting and visualization tools for data analysis.

RIMBase Insights adds value by using RIMBase daily operational and cost reporting data to save time and improve report quality when generating side-by-side well reports for planning or performance evaluation scorecards. Traditionally this is an inefficient and manpower intensive task requiring one or more office personnel spending a significant amount of time preparing this type of report from multiple exports of data into Excel or some other analysis program and then reviewing all operations data to identify key events. RIMBase Insights streamlines this entire process freeing up valuable resources to focus on reporting, visualization and analysis.

Customers can expect an excellent ROI from RIMBase Insights through its support for collaborative decision making across operational teams attempting to maximize productivity for the organization.

A key feature of RIMBase Insights is the configuration flexibility designed to let each customer select which events to track to provide them with the necessary performance information to better understand and manage operational activities.

RIMBase Insights features include:

  • Uses the familiar RIMBase user interface, minimizing deployment and training issues
  • Integrated with the RIMBase daily operations reporting system
  • Simple data entry minimizes burden on wellsite personnel
  • Can be used on new wells or retroactively added to existing wells
  • Activated by license key with no additional software installation required
  • User definable milestone lookup codes
  • Flexible hardcopy report specification
  • Performance graphs to allow multi-well comparisons
  • Defined reports can be saved for future use

Reporting and Data Visualization

RIMBase Insights comes with a flexible reporting and data visualization capability. This provides users with a productive tool to easily compare performance data for selected wells. It avoids the substantial amounts of time that users often expend creating and massaging data into spreadsheets for graphing and charting. To generate reports users specify a table of performance events which contain the operational activities between the defined starting and ending “milestones”. Once a report has been defined to demonstrate a specific performance characteristic it can be named and saved for future use.

The resulting reports provide users with a highly visual (and tabular) view of well operational and cost performance data which can be used by decision makers to spot weaknesses in asset management and help plan for higher productivity.