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Enverus, the leading energy SaaS and data analytics company, announced today that it has acquired approximately 200,000 geological well datasets from Reservoir Visualization, Inc (RVI). The expansion quadruples Enverus’ interpreted well log catalog and is the first announcement since the company changed its name from Drillinginfo earlier this month.
Enverus’ products have earned a reputation for their strong scientific foundation and commitment to complete transparency. Today’s announcement follows a long line of investments in sub-surface expertise, including a recently released product pioneering well-spacing and parent-child relationships between wells, two of the most important topics in the oil and gas industry as operators transition from delineation to developmental drilling programs.
Fringe and infill areas of today’s most prolific basins, emerging plays, and specialty areas will all benefit significantly from these expanded datasets, as will the derivatives that are produced from this influx of additional data. As just one example, more landing zones and wellbore statistics of higher precision will expand Enverus’ geographical areas of coverage.
“Not all data are created equal,” noted Jimmy Fortuna, Senior Vice President of Products at Enverus. “RVI shares Enverus’ commitment to quality geologic interpretations as the basis for advanced analysis, making this acquisition an ideal fit for both companies. These assets are core to the work our customers are focused on, as well as instrumental in their field development plans. It’s a significant addition to our existing, robust geologic and engineering assets, and makes Enverus one of the largest interpreted dataset holders in the market,” Fortuna said.
“With the advent of powerful and inexpensive machine-learning technology, some have statistically modeled the subsurface using sparse datasets. Models produced using machine learning or statistical methods are only as good as the ground truth datasets used to train them. Sparse datasets fail to appropriately constrain the models that depend on them, and they also don’t realistically allow customers to improve the models with their own data and interpretations,” he said.
Producing large datasets is easy with these shortcuts, but producing precise ones is impossible.
Since its beginning, Enverus has always focused on transparency, whether a given data element is produced scientifically, and with the direct benefit of underlying ground truth, or if it is instead produced using a model that approximates values as accurately as possible using appropriate constraints from ground truth. In this manner, Enverus has recently expanded its landing zone coverage with the introduction of derived landing zones – which is separate from the company’s interpreted landing zones – a distinction most of Enverus’ competitors cannot claim to make.
“Our best-in-class training dataset produced by the ongoing interpretive work of geoscientists specializing in specific basins and using our proprietary Transform technology already placed us firmly ahead of our peers. This acquisition increases that lead substantially,” Fortuna said.
Enverus encourages existing customers to contact their account manager, and new customers to contact a sales representative via Enverus.com to learn how to request access.
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Enverus is the leading data, software, and insights company focused on the energy industry. Through its SaaS platform, Enverus provides innovative technologies and predictive/prescriptive analytics, empowering customers to navigate the future. Enverus’ solutions deliver value across upstream, midstream and downstream sectors, enabling the industry to be more collaborative, efficient and competitive. With more than 1,000 employees across the globe, the Company’s solutions are sold to more than 5,000 customers across 50 countries. Enverus is a portfolio company of Genstar Capital and brings together the technology of Drillinginfo, PLS, 1Derrick, MineralSoft, Midland Map Co., MarketView, DataGenic Group, PRT, Oildex, Cortex, Red Dog Systems and RigData as one company. Creating the future of energy together. Learn more at enverus.com.
Jon Haubert Enverus 3033965996 firstname.lastname@example.org