For this Company Spotlight, we interviewed Well Data Labs’ Founder and CEO (Joshua Churlik) about how the company is optimizing the way the oil and gas industry collects, models, and utilizes real-time data to enhance completions and drilling operations to maximize production. Well Data Labs is a leading data analytics and machine learning software-as-a-service (SaaS) platform that helps upstream operators and service companies use data to identify and solve efficiency and technical challenges. For more information on Well Data Labs, please visit www.welldatalabs.com.

Background: After working at a large public exploration & production company in the Rockies for several years and noticing inefficiencies in the data analytics process, Josh co-founded Well Data Labs in 2014 to help operators streamline the collection and data normalization of oilfield data for use in their decision analysis. Oil and gas operators need data streams to best determine how to maximize their wellbore value, so Well Data Labs created a SaaS platform initially focusing on well completions. Over time the company has expanded their products to other segments including drilling and advanced diagnostics. Today Well Data Lab’s suite of products allows operators to access field-proven and industry-leading artificial intelligence and machine learning expertise in a turnkey way that quickly delivers scalable automation and operating value.

Key Features: Oil and gas companies often use antiquated methods to process raw technical data from the field into structured data that can be analyzed with the process taking anywhere from hours to days to weeks for usable data. In response, Well Data Labs has developed a unique SaaS platform that can cut the time to value creating analysis from hours to a few seconds through the following capabilities:

Workflow Integration: Seamlessly bring many data types and sources into a single SaaS application for analysis, reducing time spent on tracking down and normalizing field data. Designed from the ground up to fit oil and gas workflows and overcome field data issues, while incorporating modern software integrations.
Artificial Intelligence/Machine Learning (AI/ML): Utilize a field-proven AI/ML platform to automate analysis at scale leveraging pre-built or custom developed models to drive enhanced value from modern technology.
Digital Transformation: Enhanced completion & drilling data ecosystem that simultaneously provides real-time awareness, deep analytics and extensive business intelligence integrations to create a cohesive digital oilfield.
Professional Services: Services packages tailored to the needs of each customer that provide advanced fracture diagnostics such as Sealed Wellbore Pressure Monitoring, custom data integrations, daily reports, specialized training, data QA/QC and historic data loading.

Closing Thoughts: Well Data Labs has excelled at quickly driving digital transformation value for upstream exploration & production companies. The company’s products are beginning to gain interest from other industrial sectors and it is looking to expand into these verticals in the coming years. We look forward to following Well Data Labs story and watching as the company continues to create new technological innovations for driving value from technical data using its expanded AI/ML platform to deliver results in the oil and gas industry and beyond.

Company Spotlights

February 2022