August 1, 2017
Cold Bore Technology’s SmartPAD™ is not a notebook computer designed to locate hydrocarbons with a tap on the mousepad. But it is equally valuable in the oilfield because the Calgary-based oilfield technology company helps operators locate and eliminate another very valuable commodity—downtime.
The Cold Bore SmartPAD™ technology helps operators locate and eliminate non-productive time out on the drilling pad, where minutes of wasted time can add up to thousands of dollars that may as well be burned away.
Cold Bore’s president, Brett Chell, spoke to Oil & Gas 360® and gave insight into the company’s time-focused product offering.
Chell said that when companies use the SmartPAD™ service, Cold Bore outfits an operating company’s wellhead and fracturing manifold with multiple digital assets—pressure sensors, valve position sensors, and acoustic sensors. These assets create a “digital twin” of a company’s well pad with information about the pressure, valve positions and movements throughout that pad.
The digital representation is available both through an on-site tablet or computer and at the company headquarters. An operator can then monitor all of the information for the pad through one screen, and determine where pipes are under pressure, where they are not, which valves are open or closed, and any acoustic movements within the well. Knowing all of this information, an operator can understand when and where pipes are flowing, and calculate non-productive time in certain areas on the pad.
Cold Bore’s service allows operators to reduce non-productive time and monitor pressure movement for the safety of its personnel.
Chell noted that the service’s value is in “finding micro-occurrences of non-productive time.” These “micro-occurrences” of lost time can amount to several thousand dollars of wasted money, Chell said.
The premise of the SmartPAD™ is to “move from an analog world to a digital world, where we can digitize cold steel, and apply machine learning analytics to optimize processes,” Chell told Oil & Gas 360®.
Cold Bore Technology is a featured innovator that is presenting its technologies at EnerCom’s Oilfield Tech & Innovation Day Aug. 17, 2017 at the Denver Downtown Westin hotel.
EnerCom’s Oilfield Tech & Innovation Day features large and small companies that have new technologies designed to benefit the oil and gas industry by boosting production levels; lowering finding, drilling, completion and production costs; enhancing well integrity and community relations; plus other economic improvements made possible by new technologies that are in use or in field tests in the world’s oilfields.