May 28, 2021
Strategic Alliance Empowers Operators To Make Data-Driven Business Decisions For Better Well Economics
Well Data Labs, Inc. today announces it has entered into a strategic partnership with Ubiterra Corporation to provide E&P customers with a comprehensive solution for the analysis of real-time and post job completions, drilling, and geosteering data. The partnership is a significant step forward in enabling customers to leverage enhanced analytical insights alongside advanced visualizations. Access via a single platform to both companies’ data workflows allows operators to make more informed critical business decisions that improve operational outcomes and economics while mitigating risk.
Founded in 2014, Well Data Labs has quickly emerged as an innovator in oil and gas data analytics and machine learning. The business offers data-driven well reporting and optimization solutions enabling operators to increase efficiencies by simplifying multiple, complex data sources into actionable, easy-to-understand, real-time insights. Today, Well Data Labs has over 30 blue chip customers in the oil and gas industry providing analytics services for over 500,000 frac stages.
“Ubiterra’s deep expertise in advanced geology and geophysics software for the oil and gas industry makes them an ideal partner for Well Data Labs. With this partnership, we are poised to continue delivering leading-edge technologies that drive value across multiple disciplines,” said Joshua Churlik, CEO of Well Data Labs. “We have revolutionized how the industry analyzes frac data. We are now enabling operators to leverage machine learning and artificial intelligence to speed time to results wherever they need faster repeatable outcomes. Our agile approach allows customers to scale their best technical analysis across operations in days or weeks, not months.”
The enabling technologies behind the partnership include Well Data Labs Completions and Ubiterra’s ZoneVu cloud-based application. The integration between ZoneVu and Well Data Labs Completions platform provides operators with a seamless solution for capturing, visualizing, and analyzing drilling and frac data.
Ubiterra’s CEO, Peter Flanagan, said, “This partnership is about our customers. It creates an easier, real-time process from start to finish for drilling and completions. We’ve integrated the visual geologic picture with Well Data Labs’ robust frac data analyses. ZoneVu does this instantly and in 3D, which hasn’t been an easy or quick part of industry workflows. We are listening to customers and using our ability to respond quickly with advanced solutions and partnerships to complete the subsurface picture, and unite asset teams to extract the most value from their reservoirs.”
About Well Data Labs – Well Data Labs Inc., a Denver-based Software as a Service (SaaS) company, was founded with a focus on solving the problems the Upstream Oil & Gas Industry has with managing, analyzing, and reporting technical well data. The company delivers enabling and efficiency-driven technologies such as modern software, machine learning, and enterprise AI to help its customers make informed data-backed decisions. For more information, please visit https://www.welldatalabs.com.
About Ubiterra Corporation – Ubiterra Corporation, founded in 2012, is a group of E&P professionals and programmers innovating cloud software for the Unconventional Resource Play Revolution. Ubiterra’s flagship product, ZoneVu, is a cloud application designed to unite asset teams to drill better horizontal wells. Ubiterra Corporation is based in Denver, Colorado, USA. Visit https://www.ubiterra.com.