Corva has launched its frac optimization platform, a software suite of 20 mobile and web apps that gives engineers real-time insight into hydraulic fracturing operations. Corva's latest innovation brings much needed analytical capabilities and decision support to one of the most critical processes in the energy industry, enabling producers to improve frac performance, optimize production, monitor by exception, and avoid the hazardous pressure conditions that can damage nearby wells. The introduction of real-time frac analytics extends the company's existing drilling optimization platform of more than 60 apps, for which it recently reported explosive customer growth and aggressive hiring to meet demand.
"We are laser-focused on operational excellence and capital discipline for our D&C operations. The data and real-time analytics that we receive from Corva have been an important tool to Diamondback as we continue to drive drilling performance and reduce capital costs," said Mike Hollis, President and COO of Diamondback Energy.
Increasingly tight well spacing, multi-stage fracturing, and variations in subsurface rock fabric create unique challenges for every new horizontal well. To tailor hydraulic fracturing treatments for optimal results, completion staff must be able to quickly analyze and respond to constantly changing conditions during a frac operation.
Corva's real-time frac optimization platform enables oil & gas companies to:
Optimize design and costs using best-in-class parameters from historical data. Identify landing zones for laterals and select optimal stage treatments. Prevent frac hits by alerting staff to hazardous pressure build-up on nearby wells.
Key features of Corva's new frac optimization platform include the ability to compare stage design with actual, analyze nearby wells for optimal parameters through the same formation, track proppant concentration, and monitor zipper frac operations. Additional functionality includes automated frac activity detection and monitoring algorithms, eliminating the need for completions and back office staff to manually share status and alerting users when action is needed.
"Horizontal wells and the widespread use of hydraulic fracturing are the powerhouse driving the North American shale revolution, yet the benefits of the digital oilfield just haven't manifested for drilling and completions as they have for exploration and production," said Ryan Dawson, Corva's founder and CEO. "Corva has...