Permian Operator Fully Digitizes Completions Ops

Permian Basin oil and gas producer Parsley Energy achieved a 22-percent gain in efficiency in its most recent quarterly review after fully digitizing its completions operations, Cold Bore Technology Inc. reported this week.

“About five years ago, we made efficiency a priority,” Agustin De Fex, Parsley’s senior manager for completions, remarked in a written statement emailed to Rigzone.

The efficiency improvement followed Parsley’s integration of Cold Bore’s “SmartPAD” completions operations system, according to Cold Bore. The company stated that its technology incorporates valve positioning, pressure monitoring sensors, field data collection systems and proprietary software to provide “ultra high resolution” hydraulic fracturing data with analytics.

“Tracking NPT (nonproductive time) – and other areas where we felt we could make operations safer and better – involved laborious manual data recording that would tie up hours of superintendent time,” noted De Fex. “With the SmartPAD, we have access to granular, immediate and accessible data. We’re able to drill down into our operations and make those incremental changes that result in major improvements in our safety, efficiency and ultimately our profit. In today’s market, these benefits are more important than they might have ever been.”

Cold Bore noted that its technology enables an operator to access real-time data remotely – an important consideration amid the COVID-19 pandemic.

“We’re very proud to be in partnership with Parsley and play a part in helping them so effectively increase safety and efficiency in their operations,” concluded Brett Chell, Cold Bore’s president. “Having access to high-resolution operational data allows producers for the first time to understand, visualize and seek to improve areas where inefficiencies are needlessly driving up their costs and also exposing them to potential safety issues.”

To contact the author, email mveazey@rigzone.com.