No other industry in the world still manually tracks operations with Excel sheets and manually moves data by hand. Why are you? The days of wasted money, wasted time, missing data, and clunky old legacy software systems are over. SmartPAD is here.
SmartPAD
Digitize - Analyze - Optimize - Repeat
From digitally controlled and interlocked wellheads and on the fly analytics for frac, wireline, coil, and pump down to auto populated ultra high resolution data bases. This is SmartPAD.
THE FRAC REVOLUTION IS HERE. THE DIGITAL OILFIELD IS NO LONGER ON THE WISH LIST, IT'S READY TO BE INSTALLED ON YOUR COMPLETIONS LOCATIONS AND IT’S RUNNING ON YOUR COMPETITORS LOCATION TODAY. ARE YOU READY TO DIGITIZE?
WHAT IS SmartPAD?
REAL TIME DATA GATHERING
Automation allows for the use of data in real time, gathering this data manually and using antiquated Excel sheets and database techniques does not. SmartPAD allows for ultra-high-resolution data to be captured, analyzed and acted on. The level of visibility and understanding that is achieved through the use of IIOT driven software is unmatchable, the efficiency gains are a direct correlation and follow the same trend line.
CRITICAL PATH
TRACKING MULTI SERVICE WORKFLOW AUTOMATICALLY WITH IIOT SOLUTIONS
One of Cold Bore’s strategic differentiations is the use of physical sensors that turn any wellhead into a digital wellhead. Pressure and Valve position sensors give an unparalleled and fully documented remote view of our clients’ pads in real time. These two base data sets also drive an automated algorithm that tracks the start/finish of every operation on each wellhead down to the second. All this is displayed on a beautiful dashboard accessed from anywhere in the world in real time. Both NPT and now PEG are also automatically tracked freeing up countless on-site employee hours.
REMOTE ACCESS
SEE YOUR PADS IN REAL TIME FROM ANYWHERE
Most operators are looking to monitor all their frac locations remotely from one place simultaneously. There are companies providing remote access to individual service data sets, but Cold Bore takes it to a whole new level. Our digital kit universally bolts to any wellhead provides ultra-high-resolution critical path workflow tracking but that is just the foundation of understanding your operation. The SmartPAD is also hard lined into all other services on location, all other service data is tied in and married to the critical path via time stamp. Have an overage of just a few minutes or a major problem on location? It’s all tracked automatically and approved in real time by all service providers involved using Cold Bore’s DUAL HANDSHAKE proprietary technology. Time-stamped and verified.
HISTORIC VS REAL TIME DATA (CURRENT PROCESS VS SMARTPAD)
THE ADVANTAGE OF AUTOMATION AND REAL TIME DATA
The current process of having humans gather data and move it around means that there is no opportunity for real time. Humans just can’t gather and move data fast enough. Every other industry has made the move to sensors driven software that drastically reduces the manual labour aspect of any job. That is a well-known fact. What is not as apparent is the major disadvantage of not being able to have on the fly frac optimization software or analytics. With SmartPAD this is all included. Inquire to understand more detail on the frac optimization software and on the fly auto-populated analytics.
DIGITAL INTERLOCKS/FRAC OPTIMIZATION SOFTWARE
SAFETY AND EFFICIENCY GO HAND IN HAND WITH SMARTPAD
Want electric over hydraulic interlocks? You need to have a digital wellhead and full operating system first. Then interlocks are as easy and physical actuators receiving signals from SmartPAD’s software. One option is to put a set of stand-alone interlocks that are run by a stand-alone system but these will only be a short term fix. Cold Bore realized that a holistic solution was needed so SmartPAD was developed to bring the whole pad into one location, give full digital control and organize all this data to move through your company’s departments seamlessly and without human intervention. Once you have the operating system adding interlocks and overlays like frac optimization software are a natural next step.
AUTO POPULATING DATABASES
ZERO REKEYING OF DATA INTO WELLVIEW/OPENWELL ETC
Exactly that. ZERO time spend moving data to after it has been gathered in the field the first time. Even the first time is almost fully automated needing only the approval or oversight of an authorized employee. SmartPAD will auto populate any fields in the data base software of your choice from all services on location and it will include the time log. In addition to that, the granularity of the time log increases from 5-15 minutes intervals to an ultra-high resolution of 1 second data intervals.
SMART CONTRACTS
THE NEXT GENERATION OF PERFORMANCE-BASED CONTRACTS
Having the advantage of data capturing with the SmartPAD at ultra-high resolution, effectively means that detail reporting is achieved. Since the data is captured and displayed in 1 second intervals, reports can now be generated to show all services’ performance during the entirety of the whole pad. This becomes the base for implementing performance-based contracts. The advantage of implementing the SmartPAD is that it has an unparalleled level of detail and unbiased transparency, which is key for transacting performance-based contracts.
BUSINESS MODEL 2.0
SMART CONTRACTS AND PAYMENT INCENTIVE PROGRAMS
Once SmartPAD is implemented and is collecting ultra-high-resolution data, we can now track every minor detail of the operations. This translates into real-time performance-based contracts mirroring the real activity. Reconciliation could be done in real time by using Cold Bore’s proprietary DUAL HANDSHAKE technology, and you will have the ability to set your own payment schedule to the service companies, based on their performance. You can implement a payment incentive plan based on a rating system. For example, services could be rated from 1 to 5, based on performance data captured and analyzed by the SmartPAD. You could pay your 5 stars service performers in a matter of days, and the 1-star performers within 90 days. This is the ultimate win-win. The onus is being placed on the service companies for better performance, which ultimately will reflect in the time they will get paid.
WHY USE AUTOMATION
YOU KNOW WHY
AUTOMATION ADVANTAGES
Automation advantages:
- Increase in safety by having visibility and accountability
- Operational efficiency increases through higher resolution data and combined data summaries
- Real-time access and software features
- Frac optimization software on the fly
- Normalized databases created
- Auto-populated database software
- Reduce manpower/infrastructure
- Increases data integrity/visibility/resolution
- Add auxiliary systems like electric over hydraulic interlock systems to remove men from hot zones permanently
- Integrate future technology like Smart contracts when it’s time
- Eliminate antiquated multivendor software that is not compatible
Standardize EVERYTHING.
OUR PROMISE TO YOU
WE ARE HERE TO HELP
Services cannot be squeezed into profit margins anymore, and 1-5% incremental improvement technologies are not going to save the day. It’s time to think big, move everything to digital and affect 20%+ improvements across the entire operation with a full sweep business model shift. This is completions 2.0.
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Cold Bore Technology Inc. does not directly offer or supply engineering services. All engineering services are provided through qualified and legally authorized third party companies and individuals.