Did you know that in China around 350 AD, oil wells were drilled up to 800 feet deep, using bits attached to bamboo poles? Oil was first used to help burn sea water brine in order to produce salt. Later, it was used as fuel for lighting. It was not until the corresponding advent of the automobile industry that oil, likewise, really took off in production. Much of early drilling was a combination of guesswork, intuition, and passed down knowledge about how to tap the ground, control production, et cetera.
Today, oil production is much more advanced, and oil is pumped out by the millions of barrels worldwide, on a daily basis. In order to have the most viable oil well production possible, oil well software is used. Oil well software controls multiple aspects of production in order to increase efficiency and profits. It also helps keep oil sites more environmentally friendly.
So what does oil production software do? It performs a number of functions necessary to ensuring safe and expert control of oil supplies. One thing oil well software does is automatically calculate for the economic limit, which is when abandonment occurs. The economic limit is when production no longer covers the cost of operation. Operation includes the use of technology to pull out the oil, the transportation to get it places, the employees that must be paid, et cetera. Oil eventually loses extraction value as it takes more and more pressure to pull up. Knowing when a well is near economic limit allows for efficient planning.
Oil well data can also reveal when environmental stresses are making the drill unstable. Oil spills on or off land are a big concern, as they can cause a lot of damage and create a bad impression to investors. Oil well software mines data to determine likely risk factors and structural issues that could be amended.
Oil well software is also useful on a day to day basis to control field operations management, keeping track of payments in and out, et cetera. Learn more about this topic here: www.iwell.info