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Benchmark Equipment Performance

No need to guess how equipment performs during well operations. WellMaster lets you instantly compare failure rates and conduct advanced analytics based in your operational experience with the components.

Mean time to failure rates and survival probability

WellMaster takes the guesswork out of figuring out which equipment is more reliable. Whether it’s related to a mature field or a new field development, WellMaster uses the operational history to compare key aspects for the equipment, such as survival probability and failure modes analytics.

With WellMaster the end-user is always in control of the analytics and benchmarks conducted. With a high number of filters available, the combinations are endless. Want to compare Vendor A and Vendor B? No problem. DHSVs in oil vs gas producing wells? Sure thing. Reliability of gas lift valves installed between 2005-2010 and 2010-2015? Go for it. Results are always presented with full transparency in statistical significance and confidence interval, so you know what you’re comparing.

Equipment benchmarking is a key component of WellMaster, with use cases such as:

  • Compare vendors when purchasing new equipment
  • Compare equipment performance in various regions
  • Compare failure modes and causes experienced within different assets
  • Investigate how equipment perform in various well types (oil, gas, water etc)

Further, the Component reliability analyses provides the main input to lifetime performance predictions of well and X-mast tree equipment when running well lifetime simulations with the WellMaster Well Simulator.

With the RMS Analyser and your own data captured in the RMS Database, you can easily run benchmarking on critical components and include both vendors and models (valves) in the benchmarking set up. You can also compare the reliability of the typical downhole safety valves, such as the TRSCSSV, WRSCSSV and the Annulus Safety Valve (TRSCASSV), see example below.

Then the same filters can be defined for your own valves, and you can compare your valves’ performance against the Industry (Operators’ shared) data.