Nonproductive rig time, cost per lateral foot, footage per day, rotary ROP, slide percentage, connection time, on bottom percentage – these are just a handful of the key performance indicators we keep tabs on while drilling. Such KPIs are critical for understanding the equipment, crew, rig, and contractor performance, yet all too often end up stuck in a spreadsheet. This makes lookback analysis a pain and leaves important questions difficult to answer, like:
- What was the lowest cost per lateral foot for a specific target formation?
- What was the fastest hole section time for a specific region or formation?
- What contractor has the best nonproductive time for a specific asset?
Answering these questions helps teams drill the next well faster and more cost-effectively using best-in-class parameters, however, tracking down the high performers amidst a virtual haystack of historical data makes those answers elusive. But what if you could easily travel back in time to find the historical KPIs that you need to drill the best well today?
Corva’s Metrics App
Our Metrics App completely automates the collection of well, bottom hole assembly, hole section, and rig KPIs. For new clients, Corva will backfill historical performance data into our drilling cloud and going forward automatically adds KPIs while you drill. The result? Instant access to every KPI that matters to drilling teams with one touch on your smartphone.
Slice, Group, and Mashup KPIs
The Metrics App enables your team to slice and dice rig, BHA, hole section, and well KPIs any way they want. At a glance, get a quick feel for a KPI across all basins, counties, formations, sections, designs, etc., then narrow your view with a wide variety of filters. The big insights come from the app’s ability to create ad hoc KPI groupings. Want to understand which of your drilling contractors is outperforming the rest in Reeves County? Simple, just select Permian Basin and then Reeves County from the app’s drop-down menus then group NPT, footage per day, rotary ROP, or connection times by contractor and you’ll get an instant understanding of who is crushing it and who you might want to drop.
As with all of Corva’s apps, the Metrics App can be combined with other apps into dashboards or combined with multiple instances of the Metrics App to create KPI dashboards. Use this capability to mash up multiple rig KPIs for an entire basin in one powerful view. Corva makes it that easy!
Mar 19, 2024
