PDS Energy Expands Field Ticket Data Exchange to Enable Real-Time Water Ticket Data
AUSTIN, Texas (PRWEB) December 17, 2018 -- PDS Energy, an Austin-based data management firm serving 95% of Fortune 500 energy companies, has implemented the latest evolution of its reciprocal data sharing network, which adds water disposal ticket tracking to its industry-leading real-time field ticket data exchange. With trucking activity at record levels across the Permian Basin, the Mid-Continent, and other US oil & gas producing regions, the PDS Energy field ticket data exchange addresses increasing demand by operating companies for a current and reliable view of operations, including crude oil sales, disposal of produced water, delivery of frac sand, and other field transactions.
As much as four barrels of water are produced for every barrel of oil. Traditional methods of transporting produced water rely on trucking, which creates a massive logistical challenge for energy companies who collectively manage more than one million active wells in the United States. Oil and water haulers are contracted to visit wellsite locations where these fluids are pumped from storage tanks into the hauler. A field ticket documenting the process is opened at the wellsite and closed when the truck offloads the contents to a variety of facilities, such as a disposal well where water is injected into a subsurface reservoir. Because the water disposal process remains largely paper-based, producers often wait days for field tickets to be processed and transmitted by logistic service providers. This delay all but prevents these parties from using field ticket data to gain a clear and current view of operations, creating barriers to higher levels of efficiency and accountability.
“PDS gives everyone involved in the field ticket process the real-time data needed to run their business more efficiently, but we are also creating new opportunities to dramatically improve information quality by enforcing field ticket master data standards, such as well names and tank numbers,” said Chuck Marvin, Product Manager for PDS Energy. “The latest evolution of our field ticket data sharing network introduces important capabilities that enable operators and logistics providers to seamlessly track produced water as it is removed from the wellsite by a hauler and trucked to the destination facility, even where third party logistics and invoicing platforms are involved,” he said. Marvin added, “PDS Exchanges have succeeded for years due largely to our integration technology, which allows every party to seamlessly integrate their digital field ticketing systems and those of their various service providers directly with our data distribution network, rather than building costly data integrations for each of their clients.”
PDS Energy’s field ticket data exchange continues a 27-year track record of building critical data infrastructure for the energy industry, including field ticket management solutions used by Fortune 500 producers. In addition to the new capability to track water disposal transactions, the PDS data exchange can receive field tickets for crude oil sales, rejects, sand, and oil service hot shots. PDS Energy works with midstream logistic providers to directly integrate their digital ticketing data into the exchange, which supports the complete ecosystem of commercial field ticketing software solutions and apps. Oilfield transactions are then instantly available through the exchange to authorized oil & gas operators.
PDS Energy has remained a leader in oil & gas data management for three decades. The company continuously applies the latest advances in computing technology to the unique information challenges of the energy industry and is currently pioneering the application of blockchain technology in the oilfield. PDS Energy currently operates exchanges for well and production data and maintains the largest network of owner relations websites for distribution of production data.
About PDS Energy
PDS Energy is a leading provider of data exchange solutions for the upstream and midstream segments of the petroleum industry. For 27 years, the Austin-based data management company has provided oil & gas companies, joint venture partners, and service companies with cost effective methods to efficiently access, transform and distribute their data leveraging the latest technologies, including web, cloud, mobile, and blockchain. The company’s data collection and distribution networks include Well Data Exchange, Production Data Exchange, Partner Data Exchange, E-Ticket Exchange, and Crude Oil Data Exchange. PDS Energy’s customers include over 95% of Fortune 500 energy companies. For more information, please visit http://www.PDSEnergy.com.
Ben Parker, PDS Energy, https://www.pdsenergy.com, +1 281-636-9055, [email protected]
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