The Company offers standard software applications that integrate data from the oil wells and deliver executable information to its clients enabling significant improvement in the value of their assets. “We use analytics to provide a structured approach to collect data and find optimization opportunities for asset performance,” adds Eric Fidler, President, and CEO of Lavoro Technologies.
The firm offers a software stack— WellPadWorX—that automates important operations of well pads. WellPadWorkX is a framework for applications which enables oil and gas companies to oversee their production, provide local data storage, and optimize production on the well pad. It includes a field historian that collects data and captures high-resolution data throughout the life of an asset. The collected data is utilized for analysis to explore optimization opportunities for asset performance. Within WellPadWorX, Lavoro offers a full suite of configurable applications that assist technicians and operators to perform their tasks better. The solution runs on a powerful Linux OS and enables remote access to data historian and configuration programming through the browser-based utility.
One of the key factors that differentiate Lavoro Technologies from other players in the market is its acumen to offer data assurance at the edge. “No other company can provide the quality and scope of data storage that we do.
Most importantly, we help our clients in automating operations on the well pad through analytics and machine learning on the edge which enables them to prosper in the market,” mentions Fidler.
We use analytics to provide a structured approach to collect data and find optimization opportunities for asset performance
Having spent over 35 years in the oil and gas industry, Fidler understands the challenges prevailing in this space and possesses the fundamental knowledge of how to address them. Under his leadership, Lavoro Technologies is playing a quintessential role in digitalizing the oil and gas industry and supporting its clients in optimizing productivity. In one of its projects, the company aided a client in using exception reporting to manage shutdowns in their operations. This application enabled storage of key information when the catastrophic shutdown occurred. The prompt association of this information with the shutdown enabled them to improve the uptime by almost 600 minutes every month per well pad. Lavoro Technologies and its client built this solution with its application architecture that assured a higher ROI on its investment by achieving improved production volume of upto 500 barrels per month.
Moreover, Fidler mentions that on the technology front, the firm will be moving its workflow to the cloud to enable its clients to share knowledge between the well pads in a more streamlined manner. “It will allow us to enable management of several hundred devices. Hence, if operators wish to change the functioning of over a hundred devices, they just need to change the functionality of any one operation by pressing a button, and the changes will be automatically done in all the processes,” he adds. Going forward, the firm will continue to bring more tangible value from analytics and increase the prowess of the oil and gas companies.