Sourcewater Awarded by Frost & Sullivan for Its Digital Water Intelligence Platform for the Energy Industry
03 Dec, 2019, 09:30 ET
The data-driven Sourcewater platform quantifies, visualizes and predicts oilfield water production and disposal in the Permian Basin and other U.S. shale plays
SANTA CLARA, Calif., Dec. 3, 2019 /CNW/ -- Based on its recent analysis of the North American upstream oil and gas (O&G) water supply chain market, Frost & Sullivan recognizes Sourcewater, Inc. with the 2019 North American Enabling Technology Leadership Award for providing the most comprehensive water and disposal intelligence platform in the oilfield water supply chain space. The superior geospatial intelligence platform and advanced mapping technologies, including the only subsurface mapping of saltwater disposal stratigraphy, enables investors, operators, and service companies to identify the best business opportunities and make optimal operational decisions.
"Sourcewater has developed a high-performance oilfield water intelligence platform focused on the Permian Basin of West Texas and Southeast New Mexico," said Mariano Kimbara, Senior Industry Analyst. "The platform combines automated government regulatory and compliance data gathering with Artificial Intelligence (AI), machine learning, satellite imagery analytics, mobile sensors on oilfield vehicles, geoscience research, and an online water commodity marketplace to present the only holistic view of oilfield water market dynamics. The company continues to elevate its water market intelligence products and online data analytics platform to support every facet of the O&G water supply chain, including logistics, sourcing, recycling, and disposal, and it has now expanded into the geoscience of oilfield water production and saltwater disposal."
Sourcewater's platform features proprietary satellite imagery analysis technologies and maps the supply chain relationships between every O&G lease and commercial disposal well in Texas, North Dakota, and Pennsylvania. It can map the oilfield water supply chain and track oilfield asset movement on the ground 24/7 and in near real time using an oilfield navigation app. It highlights new drilling pads and frac ponds as well as proposed but unfiled disposal well locations on a daily or near-daily basis. It also maps the true active injection intervals for every disposal and injection well in Texas and New Mexico, and the true depths, pressures, and capacities of the 47 potential saltwater disposal formations in the Permian. Sourcewater's platform can generate a report in minutes, compared to days or weeks of consulting time in the alternative.
Sourcewater's platform stands out because of its robust object identification capabilities and its ability to forecast drilling up to six months before a spud happens. It has detected thousands of frac pits in the Permian Basin, differentiating between freshwater pits and produced water pits, and it attempts to identify and contact the owner of each pit to verify size, volume, water type, water price, and operator. Additionally, users can instantly visualize and compare water volumes produced by each operator as well as detect the supply chain relationships of saltwater disposals, O&G producers, and surface owners.
"Unlike competing oilfield market intelligence offerings, Sourcewater's online mapping platform combines data from multiple source types that include all available oilfield water data sources, and there is no other energy intelligence offering that combines oil and gas permit and production data with water market insights and satellite imagery analytics," noted Kimbara. "Sourcewater's successful, easy-to-use, and interactive water intelligence platform has positioned it ahead of its competitors for further adoption and application growth."
Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that not only enhances current products, but also enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient's technology.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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About Sourcewater, Inc.
Sourcewater, Inc., (www.sourcewater.com) based in Houston, Texas, is the leading digital platform for oilfield water intelligence. Sourcewater strives to show where every drop of oilfield water comes from and goes to on the surface and in the subsurface of the Permian Basin and other U.S. shale plays. The company is pioneering geospatial data engineering and integrity systems, satellite imagery analytics of energy infrastructure and advanced geoscience insights to help its clients — including many of the world's top E&P, oilfield services, energy investment and water midstream companies — to get ahead of the rig and make the best operational, business development and investment decisions. Sourcewater launched from MIT's Energy Ventures program in 2014.
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SOURCE Frost & Sullivan
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