News | Blog

The latest AKM Enterprises Inc. news and updates.

AKM Enterprises Inc. achieves huge milestone: 7,000 plus wells

05.15.16 | Posted by guest

HOUSTON, Texas—On April 21, 2016 AKM Enterprises Inc. of Houston reports that its cloud based real time drilling decision system “ProACT” has now been used on 7,000 unconventional wells.

‘ProACT is the game-changer for drilling engineers,’ says AKM Enterprises Inc. CEO Amit Mehta.

The software platform “lets them do entire well planning and construction in under one hour vs. multiple weeks typically required.’ by using big data analytics, Artificial Intelligence, Machine learning in combo.

Using any ubiquitous Internet- enabled platform (e.g., iPhone, tablet or laptop) all the data for real-time (actually instantaneous) decision-making is right at the engineer’s fingertips to take immediate actions.

The information availability automatically not only eliminates the tedious process of data preparation and validation but it also eliminates wasted time in ensuring information usefulness such as building calculations, visualizations and analytics.

In addition, no extraneous information must be filtered from the data; instead, the software constructs the complete back-end data set for the drilling engineer via advanced machine learning capabilities. As a result, ProACT excels in factory drilling models, like modern shale plays, which are top-heavy with repetitive analysis.

Amid the worldwide industry downturn, companies are more than ever actively seeking new ways to save time and money in drilling operations.

AKM Enterprises Inc., funded in part by Chevron Technology Ventures, recognized that many significant inefficiencies in time and spending could be solved technologically to provide independents and majors a highly attractive value proposition, which is increasingly vital for the drilling community.

Engineers can progress from the onset of well planning, historical performance and construction analysis, and establishing performance benchmarks to spudding the well in a matter of hours, instead of the traditional process which could take weeks.

The purpose of ProACT is to automate the machine processing of big data to guide human, or in this case Drilling Engineer’s, behavior to derive insights that were previously unavailable instantly. The entire real-time operation is backed by 24/7 well surveillance through AKM Enterprises Inc.’s Early Warning Command Center, which includes a data quality assurance team and experienced petroleum engineers who work as an extended member of the drilling engineer’s company team.

In addition to the platform’s unique capabilities, its All-in-One factor is a critical benefit because drilling engineers do not have to contend with using separate software tools to complete well performance and construction planning or to make split-second decisions, which are simply not possible otherwise. One engineer put it quite pointedly, calling the platform a ‘single source of truth’ that is no further away than a couple of clicks.

And tied to new efficiencies and productivity are impressive savings, such as $30-50k per well by extending bit runs, reducing slide percentages, maximizing ROP, and achieving build/hole rates, along with $100k + per well by avoiding stuck pipe and avoiding remedial NPT, optimizing lube use, reducing excessive clean-up cycles, and eliminating unnecessary wiper trips, to name a few.

The ProACT software platform is not about computer complexities but about setting the stage for drilling engineers to make the best, most-informed decisions in record time.

Read more: Enterprises Inc._cloud_drilling_engineering_decision_support_system_on_7000_wells/c8c5ffde.aspx#ixzz48jssC7kR

No Comments