INTERNATIONAL energy market specialist S&P Global Platts has launched Platts WELLSCAPE P2P, a new product to help upstream market analysts identify drilled but uncompleted (DUC) wells.
Platts, through its recent acquisition of RigData, has leveraged the experience and data history necessary to meet market demand for insight into the status of the in ground oil and gas inventory.
“Platts WELLSCAPE P2P has been developed based on the needs of three key upstream industry sectors: oilfield service companies, operating companies and financial/equity analysis firms,” said Tim Wise, product development manager of Platts RigData, a forecasting and analytics unit of S&P Global Platts.
“Today a permit to drill is not always turning into new productive capacity. Deferring completion of recent drills creates an in-ground inventory that directly impacts current and future oil field activity and revenue opportunities for producers.”
With data covering 28 major plays and the entire U.S., Platts WELLSCAPE P2P enables the user to filter, prioritise and review the current disposition of the well lifecycle. It presents insights into more than 100,000 assets with a trailing 24 month status of drilling activity on each well site. Starting with the permit, it tracks that asset from intent to drill, drill, complete and into first production.
S&P Global Platts acquired RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America, on June 1, 2016.