Weatherford Releases New ForeSite® Business Intelligence and Data Visualization Powered by Microsoft® Power BI

Date : 08/06/2019 @ 11:50AM
Source : PR Newswire (US)
Stock : Weatherford International Plc (Ireland) (WFT)
Quote : 0.3656  0.0 (0.00%) @ 1:00AM
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Weatherford Releases New ForeSite® Business Intelligence and Data Visualization Powered by Microsoft® Power BI

Weatherford (NYSE:WFT)
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3 Months : From Jul 2019 to Oct 2019

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Enables Customized, Asset-Level Operational Insight Via Complete Power BI Integration into the ForeSite Platform

BAAR, Switzerland, Aug. 6, 2019 /PRNewswire/ -- Weatherford International plc (OTC-PINK: WFTIQ) (the "Company" or "Weatherford") announced the integration of Microsoft® Power BI into the ForeSite® production optimization platform for the oilfield industry. This integration accelerates ForeSite users' ability to deep dive into their production data, conduct analyses, and create simple, easy-to-digest data visualizations that illustrate virtually any production scenario from the well to asset level.   

Power BI features are fully integrated into the ForeSite optimization workflow, enabling visual data exploration to condense vast amounts of oilfield data from any corporate data source into actionable dashboards and reports. ForeSite users will be able to create and visualize customized data reports or select from a series of built-in visualization dashboards and reports that monitor KPIs and identify production optimization opportunities. Among the pre-built, production-data analysis package are:

  • Financial Health Report lets users assess production versus spend by job, by service provider, by asset group, and more. This leverages data from ForeSite Field Services Management module.
  • Failure Analytics Report lets user assess current and historical failure data to gain insight into vendor or technology efficiency, including equipment performance of two or more vendor brands to determine the lowest total cost of ownership.  
  • Asset Performance Dashboard gives real-time update on preset KPIs such as production targets, asset downtime, uplift potential, and more.
  • Manager's Report gives a broad, asset level performance visualization for an asset or enterprise including estimated versus actual spend and production.

"By fully integrating Power BI into our powerful ForeSite platform, we're helping our customers see their production data in a way that's easily accessible and visually informative, yet requires far less preparation and data-science expertise," says Manoj Nimbalkar, Vice President of Weatherford Production Automation and Software. "Simply put, we're putting asset-level intelligence and data reporting at the operator's fingertips."

The Power BI connector is the latest expansion to ForeSite platform capabilities. Introduced in May 2017, ForeSite remains the only enterprise-level platform to optimize the complete life-of-well productivity from downhole to the point of sale. The platform combines physics-based models with advanced data analytics to improve performance across wells, reservoirs, and surface facilities on a single, secure platform. It optimizes naturally flowing wells, reciprocating rod lift, ESP (electric submersible pumps), gas lift, plunger lift, injection wells, PCPs (progressing cavity pumps) and soon hydraulic lift.

About Weatherford

Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in more than 80 countries and has a network of 620 locations, including manufacturing, service, research and development, and training facilities and employs more than 24,500 people. For more information, visit www.weatherford.com and connect with Weatherford on LinkedIn, Facebook, Twitter and YouTube.

Contact:

Christoph Bausch
+1.713.836.4615
Executive Vice President and Chief Financial Officer

Karen David-Green
+1.713.836.7430
Senior Vice President Stakeholder Engagement and Chief Marketing Officer

Weatherford logo. (PRNewsFoto/WEATHERFORD INTERNATIONAL)

Logo - https://mma.prnewswire.com/media/73933/weatherford_international_logo.jpg

Copyright 2019 PR Newswire

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