Permian Operator Selects Archeio’s Smart Search Technology
DALLAS (PRWEB) September 06, 2017 -- Archeio Technologies has been selected by Dallas-based Browning Oil Company to solve its land information access challenge as the producer prepares to expand its drilling operations. Archeio’s cloud-based well and land file management software will be used by Browning Oil Company to digitally manage and search a large volume of unstructured data related to its extensive lease holdings. The solution gives instant access to more than 30 years worth of land and legal documents that had been previously stored in physical storerooms. Browning Oil Company joins a rapidly growing list of oil & gas companies who are adopting Archeio’s E&P information management software to search large volumes of land information.
Browning Oil Company currently focuses on unconventional shale development in the Permian Basin where it holds a large non-operated acreage position of 70,000 net acres. The company also holds 6,000 net acres in the Austin Chalk where it operates 150 wells and plans to drill as many as six wells in the next year. Over the course of decades, Browning Oil Company had accumulated a massive amount of unstructured data and documents related to more than 1,800 leases. These paper records were stored in filing rooms, making it difficult for land staff to quickly locate key information. As a result, locating lease information, such as assignments, division orders, and title opinions, could take days or weeks, delaying critical decisions as the operator’s drilling momentum increased.
Archeio’s SkyWell® information management solution was selected by Browning Oil Company to organize its extensive set of land files in the cloud. Hundreds of boxes containing physical documents were digitized by an Archeio partner before they were classified, tagged and loaded into SkyWell. Accessible from PCs, smart phones, and tablets, SkyWell provides advanced search features, a map-based interface to locate documents by region or well, and analytics.
“Archeio smart search technology enables us to streamline the management of more than 30 years of well and land information, and we look forward to adding more departments to the solution,” said Daniel McWilliams, land manager at Browning Oil Company. “We’ve been impressed with the ease of implementation of the system and the responsiveness of Archeio’s team to our specific requirements during this process,” he added.
Using machine learning, high-speed document processing, and energy specific document taxonomies, Archeio allows land professionals at Browning Oil Company to quickly search lease records in seconds using the complex legal language often found in such documents. Importantly, SkyWell provides efficient and centralized access to the key types of data needed by Browning Oil Company to manage its aggressive drilling program, including accounting, well files, and drilling reports. The company’s staff and non-operating partners now have easy access to the data they need in a secure environment in the field office, or corporate headquarters.
“We are extremely proud to have been selected by Browning Oil Company and look forward to solving their land information management challenges,” said Chetan Chouhan, Co-Founder of Archeio. “Leasing property entails large scale due diligence and legal analysis, which generates a massive amount of critical information to manage,” Chouhan said. He added, “we are committed to helping operators better classify, manage and search this data, which is why there is a growing use case for SkyWell to address the complex document management needs on the land and legal side of the energy industry.”
By securely storing well and land files in the cloud and improving data consumption through its smart search technology, Archeio accelerates lease analysis and improves asset management for energy companies. Archeio’s list of clients who are using SkyWell to manage and search proprietary information is growing and most recently includes one of the largest acreage holders in the Denver-Julesburg (DJ) Basin.
About Archeio Technologies
Archeio Technologies is a provider of intelligent software and services to the upstream oil and gas industry. The company helps organizations manage the large volume of information generated throughout the well lifecycle, including engineering, geology, land, regulatory, and production data. Archeio’s unique approach uses innovative cloud computing, machine learning, and intelligent search technology to give energy professionals access to reliable well information on their desktop or mobile device. Companies benefit from improved operational efficiency and reduced IT overhead. The Dallas-based startup has already attracted a portfolio of clients, from large, publically traded companies to independent operators, and currently manages information for thousands of wells across North America.
Ben Parker, Archeio Technologies, +1 2816369055, [email protected]
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