Empowering Precision Drilling to optimize asset productivity with operational digital twin
What You Need to Know
Solution leverages the power of real-time data
Combines data from EDR, drilling control system, work logbook, and predictive maintenance sensors
Delivers immediate business impact at minimal cost
Introduction
Precision Drilling, a leading drilling contractor in North America, has partnered with Prescient to implement an operational digital twin solution that has revolutionized their asset management and optimization strategies. This innovative solution leverages real-time data from various sources, including Electronic Drilling Recorder (EDR), drilling control system, work logbook, and predictive maintenance sensors, to provide a comprehensive view of rig equipment performance.
Challenges
In today's demanding business environment, drilling operations are facing increasing pressure to perform at higher levels while managing rising maintenance costs, talent retention challenges, and labor sourcing difficulties. Asset productivity has become a critical focus for the energy sector, driving the need for innovative solutions to optimize performance and efficiency.
Solution
Precision Drilling sought a solution that could provide real-time insights into equipment performance, enabling proactive maintenance and optimizing overall asset productivity. Prescient's operational digital twin solution emerged as the ideal answer, offering a holistic approach to asset management and optimization.
Key Features
The Prescient digital twin solution offers several key features that have transformed Precision Drilling's asset management practices:
Real-time data collection and analysis: The solution gathers real-time data from various sources, providing a comprehensive understanding of equipment health and performance.
Predictive maintenance: Advanced predictive algorithms analyze data patterns to anticipate potential equipment failures, enabling proactive maintenance and preventing downtime.
Remote monitoring and control: The remote operations center can monitor hundreds of rigs simultaneously, ensuring timely intervention and optimizing resource allocation.
Knowledge base and continuous improvement: Maintenance data is continuously accumulated in a knowledge base, enabling continuous learning and improvement over time.
Business Impact
The implementation of Prescient's operational digital twin solution has yielded significant benefits for Precision Drilling:
Reduced downtime: Proactive maintenance has led to a substantial reduction in unplanned downtime, enhancing operational efficiency and reducing costs.
Improved asset lifespan: Predictive maintenance practices have extended the lifespan of critical assets, minimizing replacement costs and maximizing asset value.
Enhanced operational decision-making: Real-time data and insights have empowered Precision Drilling to make informed decisions that optimize asset utilization and performance.
Empowered workforce: Field teams are equipped with real-time data and guidance, enabling them to perform maintenance tasks more effectively and efficiently.
Testimonial
Russell Whitney, IIoT Manager at Precision Drilling, emphasized the groundbreaking nature of this collaboration, stating, "Prescient's low-code platform and domain knowledge enabled a level of innovation and execution unheard of not only in the drilling industry but the broader energy industry. We look forward to pursuing more projects with Prescient and challenging the status quo."
Conclusion
Precision Drilling's partnership with Prescient has set a new benchmark for asset management and optimization in the drilling industry. The operational digital twin solution has proven to be an invaluable tool, delivering tangible benefits in terms of reduced downtime, improved asset lifespan, enhanced operational decision-making, and an empowered workforce. As Precision Drilling continues to explore the potential of this technology, the company is poised to further elevate its operational excellence and achieve even greater success in the years to come.
Schedule a demo today to discover how Prescient's operational digital twin solution can transform your drilling operations and propel your asset productivity to new heights.
Russell Whitney, IIoT Manager at Precision Drilling