Lone Star’s Dynamic Risk Management Featured at IADC Forum

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Technology can make drilling less dangerous. The Industrial Internet of Things will help.

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There is no need for risks to be based on old, subjective assessments - Drew Hartigan

Andrew Hartigan of Lone Star Analysis will give a presentation on “Dynamic Risk Management” at the International Association of Drilling Contractors (IADC) Technology Forum focused on Innovations in Drilling Safety.

Mr. Hartigan will focus on how to integrate data and insight from multiple organizations, decisions, and real-time data feeds. This creates holistic understanding of risk and how risk accumulates or diminishes. The industrial internet of things (IIoT, or IoT) will accelerate the power of Dynamic Risk Management. The IADC event will be hosted by GE at the GE Oil & Gas Learning Center, in Houston, on November 9.

Senior Lone Star authors have published related materials on Lone Star’s website, and in SPE Journals. A video of the risk modeling simulation of the Deepwater Horizon disaster is also available to be viewed at https://www.youtube.com/watch?v=LVqEtLez60s.

Lone Star’s AnalyticsOS™ (AOS) enables Dynamic Risk Modeling. AOS is an advanced real time predictive and prescriptive analytics suite of tools. It enables deployment of true cause-and-effect based operational models at the point of need. AOS applications can operate at the network edge or any other location within the enterprise, with or without a human supervisor, tirelessly solving analytics challenges. AOS uses up to date data from IoT, or any other sensor data stream. This cutting edge technology applies to a wide range of topics, which includes predictive and prescriptive maintenance.

“There is no need for risks to be based on old, subjective assessments,” said Hartigan. “We have the technology today to manage risk dynamically, like any other industrial problem in maintenance, logistics, or operations. AnalyticsOS™ and IoT make it easy to do what used to be impossible.”

About Lone Star

Lone Star provides powerful solutions that improve operations. We serve industrial markets, aerospace & defense, oil & gas, transportation & logistics, and the public sector. From our exclusive analytics products and technology-enabled services, no firm is more qualified to deliver the right answer for your operational needs. Our reputation is built on creating lasting value for our clients. We are committed to generating improved operational and financial performance through accurate and actionable answers to our client’s most critical business challenges. Headquartered in Dallas, Texas, Lone Star is found on the web at http://www.Lone-Star.com.

About IADC

Since 1940, the International Association of Drilling Contractors (IADC) has exclusively represented the worldwide oil and gas drilling industry. IADC’s mission is to catalyze improved performance for the drilling industry by enhancing operational integrity and championing better regulation to facilitate safer, cleaner and more efficient drilling operations worldwide. For more information, visit the IADC website at http://www.iadc.org or, for information about the November 9, 2016 IADC Technology Forum visit http://www.iadc.org/event/iadc-dec-technology-forum-9/ .

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