M-Files and WellMetrics: A Comprehensive Well Information Management Solution for Maximizing Oil & Gas Assets

M-Files Partner, The Strickland Group, Debuts Solution that Provides Exploration and Production Firms with a Unified System for Harnessing Well Information Across All Core Databases and Applications

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By placing everything an enterprise knows about their wells at their employee's fingertips, WellMetrics and M-Files enable oil and gas companies to quickly access credible and accurate information.

Tampere, Finland (PRWEB UK) 28 May 2014

M-Files Corporation, a provider of solutions that dramatically improve how enterprises manage documents and other information, today announced that The Strickland Group, a member of the M-Files Partner Program, has introduced WellMetrics, a well information management solution. WellMetrics leverages GIS and enterprise content management to enable exploration and production companies to instantly locate and access the precise information they need to maximize the recovery and value of their oil and gas assets.

Facing increasing global demand for reliable supplies of oil and natural gas at reasonable prices, exploration and production firms must be able to efficiently extract and process resources in challenging and complex geologic and geographic environments. The ability for exploration and production companies to optimize their oil and gas assets relies heavily on fast access to the most accurate versions of documents and data sets in order to support and enhance time-sensitive predictive decision making.

Most exploration and production companies are organized by operational departments such as geology, land, reservoir engineering, operations and accounting. Each of these groups typically utilizes different software solutions for storing information associated with these disciplines. As a result, exploration and production companies are often challenged with providing their staff with quick access to the massive volume of information that resides within their various internal business applications and databases.

WellMetrics solves this industry-wide dilemma by providing oil and gas companies with a single unified solution for accessing all structured and unstructured information related to their wells, ensuring authorized staff can quickly locate the exact content they need, regardless of the business application in which it resides. With fast access to structured content, such as production, land and operations data, as well as unstructured documents, such as drawings, technical specifications, contracts, correspondence and other information needed by scientists and operational staff, exploration and production firms can better optimize their oil and gas assets at the well, lease, reservoir, field and corporate levels. This directly enhances decision making, leading to improved value of assets in the areas of exploration, drilling, waterflooding, completions, recompletion and reservoir engineering.

"As the worldwide demand for energy continues to increase, oil and gas companies must be able to efficiently harness the enormous volume of geological, exploratory and operational information residing in their disparate business systems in order to identify ways to boost production," said Scott Erickson, vice president of channel sales at M-Files Corporation. "The key to success in the oil and gas industry is the ability to quickly access and utilize the most trusted information, and WellMetrics leverages the easy to use enterprise information management capabilities in M-Files to help exploration and production companies eliminate information silos created when important data and documents are scattered among different business systems and departments. The result is instant access to the most accurate and up-to-date information from any system or database, which in turn leads to better and faster decisions, and increased profits."

"We work with many exploration and production companies, and a common problem we hear is how their employees spend too much time and energy not only trying to locate the information they need, but also verifying that the data and documents they've accessed are the correct and accurate versions," said Brad Nickle, executive vice president at The Strickland Group. "Our clients needed a solution for effectively organizing and accessing their data and documents so they can focus on analysis rather than data aggregation and validation. By placing everything an enterprise knows about their wells at their employee's fingertips, WellMetrics and M-Files enable oil and gas companies to quickly access credible and accurate information, which in turn enables them to focus their resources on analyzing this information in order to better optimize their oil and gas assets."

"The flexibility of the M-Files architecture and the ease in which it can be connected to existing databases and systems enabled The Strickland Group to offer WellMetrics as a highly-integrated and focused information management solution for the oil and gas industry," added Erickson.

WellMetrics features include:

  •     Fast access to all well data and documentation from a single, unified system.
  •     An integrated GIS interface based on ESRI that allows users to easily find, view and manage data and document collections by each well, or by groups of wells, using intuitive maps and aerial photography.
  •     Integration with commonly-used commercial oil and gas industry applications such as Aires, Excalibur, LandWorks and Rio.
  •     The ability to centrally manage both structured data (data residing in database applications) and unstructured documents (Word, Excel or PDF files, for example).
  •     Comprehensive document control capabilities for ensuring only authorized staff can access confidential information and for supporting regulatory compliance requirements.

For more information about The Strickland Group and WellMetrics, watch this video.

About The Strickland Group
The Strickland Group provides consulting services to the oil and gas industry and legal community worldwide. The company's team of information technology consultants has expertise in a broad scope of areas including Windows applications, website and integration development as well as experience with a wide range of databases and commercial software for the oil and gas industry such as Aries, Excalibur, Bolo, LandWorks, Rio, etc. The company's clients include General Electric Structured Finance Group, Chevron, Encore Acquisition Company, Texland Petroleum, Jetta Operating Company and other major and independent oil companies, oil field service companies, financial institutions that invest in oil and gas properties and other companies with interests in the oil and gas energy sector. For more information, visit http://www.tsg.net.

About M-Files Corporation
M-Files enterprise information management (EIM) solutions eliminate information silos and provide quick and easy access to the right content from any core business system and device. M-Files achieves higher levels of user adoption resulting in faster ROI with a uniquely intuitive approach to EIM that is based on managing information by "what" it is versus "where" it's stored. With flexible on-premise, cloud and hybrid deployment options, M-Files places the power of EIM in the hands of the business user and reduces demands on IT by enabling those closest to the business need to access and control content based on their requirements. Thousands of organizations in over 100 countries use the M-Files EIM system as a single platform for managing front office and back office business operations, which improves productivity and quality while ensuring compliance with industry regulations and standards, including companies such as SAS, Elekta and EADS. For more information, visit http://www.m-files.com.


Contact

  • Matthew Meigs
    M-Files Corporation
    +1 4156866178
    Email