September 19, 2018 - 8:07 AM EDT
Print Email Article Font Down Font Up
eLynx Transforming Oil and Gas With Groundbreaking Predictive Analytics

eLynx Technologies announces industry's first predictive analytics software as a service that identifies production and equipment problems days before they become apparent

TULSA, Okla., Sept. 19, 2018 /PRNewswire/ -- eLynx Technologies (elynxtech.com) today announces the commercial launch of Predictive Analytics as a Service (PAaaS), a suite of predictive maintenance software products poised to revolutionize the oil and gas industry by forecasting oilfield problems — everything from when equipment is about to break to downhole events such as liquid loading — days and even weeks before they happen. The fruit of nearly two years of work by an expanding team of elite data scientists, PAaaS promises to save companies enormous amounts of capital, boost reserves, dramatically reduce costly waste, enhance safety and protect the environment. Now, instead of just reacting to daily parades of disruptive oilfield challenges, many of which cause wells to stop producing, eLynx empowers oilfield professionals to fix problems before they emerge.

https://www.elynxtech.com (PRNewsfoto/eLynx Technologies)

"Big Data is transforming our industry in positive ways,"  said eLynx founder and CEO, Steve Jackson. "We are the fortuitous beneficiary of almost 20 years of industry knowledge gained from monitoring over 40,000 wells for hundreds of customers in all major U.S. drilling basins. We now are leveraging that knowledge and putting it into the most relevant hands — those of our customers. The quality of our data is key — no other organization in the industry enjoys our wealth of reliable, strong data. But it takes powerful minds to turn data into valuable products, and we have built one of the most potent data analytics teams in the United States. Science partnerships with the University of Tulsa Tandy School of Computer Science, Tulsa University Artificial Lift Project, and Microsoft, which selected us to be one of a few hundred commercial partners worldwide, have been vital collaborations. But PAaaS would not be happening without our customers — without them, we could never have created so many groundbreaking products. Finally, the bulk of the credit goes to our superb team of passionate employees, all of them obsessively focused on executing the work required to bring these transformative products to the industry."

Starting today, industry leaders can leverage our new platform — the first innovation in oil and gas to combine predictive analytics as a service and SCADA — to achieve significant gains. eLynx's first plunger lift predictive maintenance product, for example, saved one producer $710 per month per well. For a 500-well field, that translates into $4.2 million in annual savings.  This early experiment represents just a sliver of what eLynx will deliver to its customers.

"Almost 20 years ago, eLynx introduced SCADA as a service to the industry," said Samantha McPheter, eLynx Chief Product Officer. "With these new technologies, we move to predictive analytics, a pivot that vaults data from something merely important to absolutely essential for companies seeking to be competitive in this new environment. Companies that are slow to adapt to this new reality will be consumed by competitors that are quick to embrace this data revolution."

To schedule time to speak with Steve Jackson and members of the analytics team, please contact Douglas Brown: [email protected], 303-241-0141.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/elynx-transforming-oil-and-gas-with-groundbreaking-predictive-analytics-300715135.html

SOURCE eLynx Technologies


Source: PR Newswire (September 19, 2018 - 8:07 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice