Datagration, the premier end-to-end data platform provider for upstream oil and gas, and OneNexus Environmental, which has designed and developed a unique offering, OneNexus Assurance™, for the industry to address the growing problem of unfunded Asset Retirement Obligations in the E&P industry, have teamed up to solve the industry’s trillion-dollar problem.
Today’s energy sector faces a daunting number of inactive, unplugged, non-producing wells along with their associated facilities, presenting a trillion-dollar problem for the industry, its investors and stakeholders—and ultimately the U.S. taxpayer. The Environmental, Social and Governance (ESG) of this problem is gaining attention from every aspect of the business and investment world. Properly planning for the decommissioning of existing and future end-of-life wells is an important part of achieving oil & gas sustainability.
OneNexus will use PetroVisor which is a Software-as-a-Service (SaaS) Platform and its disruptive Unified Data Model (UDM) to integrate and track 100,000’s selected wells for its targeted solutions. PetroVisor will assist One Nexus personnel in doing complex engineering, operations, and financial and statistical analysis automatically, thereby improving the operational efficiency and risk management aspects of its models.
“We are extremely excited to work with OneNexus, their approach to decommissioning planning is truly unique and game-changing for our industry,” says Peter Bernard, Chairman & CEO, Datagration. “OneNexus has created a truly differentiated offering for O&G companies that help them focus on producing hydrocarbons, while taking the Asset Retirement Obligation burden off their balance sheet.”
“We selected PetroVisor and its UDM because it offered a truly commercial data and analytic solution we could use today,” said Tony Sanchez-CEO. “The ability for OneNexus to scale quickly is very important and we know PetroVisor is able to do this for us.”
Over the last few decades, SaaS and BI solutions have assisted teams in aligning around KPIs. However, in order to address the increasingly complex problems of the decades to come, our data tools and data culture must adapt. PetroVisor creates a systematic approach for business metrics and KPIs while reducing data management complexity and costs.