THE BUSINESS CASE
THE MONEY VALUE LOST
The Oil and Gas drilling industry commonly suffers up to 50% lost time. PRTS, LLC engages technology designed to “watch” for hazards events as they evolve in real time. Historically, the industry has not been able to identify and measure what Avoidable Lost Time (ALT)™ really means. There are numerous opportunities in the ability to define and measure this time, and more importantly in real time to enable proactive intervention repsones by the drill team.
Our analysis of wells with the RTAS system has shown a minimum of an about an hour to a maximum of about 30 hours of actual lead time on developing problems. In addition, the added Avoidable Lost Time if a hazards events occurs is an enormous cost to the industry: Kicks, well control, stuck pipe, sidetracks, loss of barrier, not to mention the Health Safety and Environmental aspects and related costs. RTAS facilitates opportunities to engage corrective actions for hazards avoidance in real time.