The Frac Interference Exchange has seen explosive growth with 83 oil & gas companies now participating. We’ve listened carefully to what producers need and built on the initial concept of simplifying the distribution of frac schedules with tools that completely automate the process.
AUSTIN, Texas (PRWEB) January 14, 2020
PDS Energy Information (PDS), the leading provider of secure data transfer exchange services for oil & gas drilling, completion, and production data, announces the release of new automation features for the Frac Interference Exchange (FracX), a reciprocal data sharing service designed to facilitate collaboration between producers in order to avoid negative interactions between closely spaced wells. FracX now enables participants to automatically import frac schedules into the exchange as well as deliver schedules directly into an operator’s GIS system. With the latest round of enhancements, oil & gas producers can rapidly identify the acreage where frac hits may occur and take action, including temporarily shutting-in producing wells.
Previously, users uploaded spreadsheets containing the location and dates of planned completions into FracX, which aggregates, normalizes, and distributes the data to other participants, who have the option to download the information or view it in a web-based map interface. FracX now enables producers to automatically import data from a GIS system using FTP or API transfer methods. Similarly, data from FracX can now be automatically delivered directly into a producer’s GIS system, accelerating collaboration and analysis.
Offered at no cost to the industry, the FracX service has seen rapid adoption by oil & gas producers eager to find solutions to the pervasive and growing threat of high-pressure interactions between wells being completed and nearby producing wells. The exchange is currently being used across the Permian Basin by all major producers and is seeing similar rapid adoption in the Eagle Ford.
“The Frac Interference Exchange has seen explosive growth with 83 oil & gas companies now participating,” said Katie Keating, FracX Product Manager. “We’ve listened carefully to what producers need and built on the initial concept of simplifying the distribution of frac schedules with tools that completely automate the process so operators can spend more time on analysis and remediation,” she said. Keating concluded, “these new features and others that are currently in development continue our commitment to the oil & gas industry to solve a very important problem across all basins where close well spacing and longer laterals pose increasing risk of frac hits.”
PDS Energy is executing on a roadmap of new features and enhancements to FracX incorporating feedback from users, which include 83 oil & gas companies and more than 300 energy professionals (to view a list of participating companies please visit http://www.PDSEnergy.com/FracX-Participants). In addition to the latest automation features, PDS Energy plans to unveil new mapping capabilities that will allow users to visualize and work with well information in powerful new ways using web-based tools.
About PDS Energy
PDS Energy is a leading provider of data exchange solutions for the upstream and midstream segments of the petroleum industry. For 26 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, including Anadarko Petroleum, BP, Chesapeake Energy, Cimarex, Continental Resources, Devon Energy, Marathon Oil, Pioneer Natural Resources, and XTO Energy. The company also operates an extensive network of owner relations websites that enable oil & gas operating companies to efficiently distribute production data to royalty and mineral interest owners. For more information, please visit http://www.PDSEnergy.com.