Season’s Greetings from RDS!
It’s been a productive 2017 for us as the industry has started to respond to improved market conditions, and we are proud to say that we did not sit idle during the recovery period. We instead used the past year to strategically improve upon our services, grow our team, and continue to advance our company.
As another year of growth and reflection comes to a close, we would like to take a second and share a brief overview of the industry trends we observed over the past 12 months.
2017 saw a sizeable upsurge in onshore activity from clients who are major players in oil and gas — and it’s no surprise that a substantial amount of this activity was in the Permian Basin. We observed an increased demand for our REAL TIME data transmission services coupled with EBOT (surface) and JBOT (downhole) pressure gauges, as operators have once again begun placing emphasis on better understanding reservoir characteristics. We are seeing more DFITs and Frac Interference Monitoring with the operator’s intent of applying captured depletion, net pressures, BHP, etc. to their “big data” systems to make more informed decisions going forward.
It is also worth mentioning that we noticed different strategies employed by our small to mid-sized E&P clients. Many of these, particularly the smaller, private equity-backed, have begun using RDS to perform DFITs to better understand recently acquired fields, or to expand upon portfolio details in preparation of marketing their acreage position. Additionally, in this class of operator we saw a rise in both interest and utilization of newer technologies relating to Frac Interference Monitoring and emphasis placed on well-spacing optimization.
Looking at trends for 2018, we anticipate activity levels to improve further still as confidence in the market is restored and companies are eager to advance the development of existing acreage and prove up new acquisitions.
On the RDS front, next year will see the release of innovative new service lines and tools, and a full reimagining of our online portal that will change the way you receive data!
Best wishes to all for 2018, and stay tuned for more updates after the New Year. Have a safe and happy Holiday Season!
— The RDS Team