Effectively Boost Oil and Gas Production using Embedded Analytics

Effectively Boost Oil and Gas Production using Embedded Analytics

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Effectively Boost Oil and Gas Production using Embedded Analytics

Oil and gas usage for energy is above 80% for the world. Consumption has increased for both industrial and home use. Industries have evolved to manage this increasing demand. However, managers do find it difficult to trace production, which has led to poor appropriation of funds, avoidable incidents drilling for oil, and more.

Embedded analytics in an application helps monitor the operating process for production, providing insight to effectively manage and deliver oil and gas. It captures data in a distinguishable way to enable critical, timely decision-making and to allow production predictions.

Working with Bold BI gives you more than one way to easily monitor oil and gas production. In this post, I am going to walk you through the following sub-topics to learn more about embedding your data:

What is embedded analytics?

Embedded analytics is the integration of analytical solutions and data visualization capabilities into a software application’s user interface to improve data comprehension and usability. Bold BI helps you easily embed an analytics solution into your everyday work application using a JavaScript SDK and server application. It also enables non-technical people to monitor data sets with attractive dashboards and glean all the insights they need to improve organizational and workforce outcomes.

Benefits of embedding oil and gas production monitoring

Using embedded analytics provides insight about daily operations and lets you visualize data to keep your production process generation higher and stable. It also gives an overview of oil production states, which enables an easy way to identify regions with better markets for your products. The following key benefits are gained from embedding oil and gas production monitoring:

Increase in BOEPD (barrels of oil equivalent per day)

Increase in BOEPD (barrels of oil equivalent per day)
Photo by Pixabay from Pexels

Embedded analytics in the oil and gas industry helps track key metrics such as demand forecasting, production attainment, BOEPD, top gas-producing wells, and top oil-producing wells. These metrics enable teams to easily know where to work and improve to increase the rate of BOEPD. Attaining their target daily to mitigate the delivery process allows them to sufficiently drill from their wells the needed amount of oil.

Defined safety measures

Defined safety measures
Photo by Pixabay from Pexels

The oil and gas production process needs precaution guidelines to protect every person in the workplace. Using embedded analytics helps the administration track attendance and completion of safety training, recordable injury frequency, operators, and fines for environmental and safety violations. This lets the administration contain incidents in time to save lives. By tracking incidents, administrators can implement caution to avoid injuries and protect the workplace against unnecessary violations. Through that insight, measures can be put in place to ensure that the environment is protected.

Improved budgeting

Improved budgeting
Photo by Sakchai Ruenkam from Pexels

Finance is the foundation of a business and is the root of all operations that take place within the workplace. Oil and gas production and delivery processes need a budget to have better performance. Embedded analytics helps finance managers have an overview of major metrics and KPIs regarding states with wells. Managers can easily track production expenditures periodically and plan ahead financially to boost production. This also helps them track the sales process per barrel to ensure a full return of their investment.

Advanced influential and objective management

Advance influential and objective management
Photo by Pavel Danilyuk from Pexels

Good business management provides the products and services consumers desire. Using embedded analytics helps track key metrics and KPIs such as cash-to-cash cycle time, return on assets, total production in four weeks, and production by state for four weeks. This insight enables managers to improve their work and be driven by the main goal of the business. It also enables them to put in adequate investment and influence other business entities to boost returns. These managers build a strong union by increasing their production and collaborating with other states to deliver a quality product to consumers.

Bold BI’s oil and gas production monitoring dashboard example

With an embedded oil and gas production monitoring dashboard, you get the analysis of production in BOEPD units across different wells. Values in this dashboard are represented as BOEPD (barrel of oil equivalent per day). One barrel is equal to 159 liters of crude oil, and one barrel of oil is equal to 5,800 cubic feet of natural gas.

Oil and Gas Production Monitoring Dashboard
Oil and Gas Production Monitoring Dashboard

The following metrics and KPIs are visualized in the dashboard:

Barrels of oil per week

Barrels of oil per week
Barrels of Oil per Week in Oil and Gas Production Monitoring Dashboard

This KPI card shows the units produced in the current week, compared with the previous week’s units. It indicates the status of the weekly oil production.

Gas BOEPD

Gas BOEPD
Gas BOEPD in Oil and Gas Production Monitoring Dashboard

This KPI card widget shows the units produced in the current week, compared with the previous week’s units. It helps in providing the status of the weekly BOEPD of gas.

Production by State in Last 4 Weeks

Production by State in Last 4 Weeks
Production by State in Last 4 Weeks in Oil and Gas Production Monitoring Dashboard

This heat map shows the last four weeks of barrels produced by state. This helps oil industry administrators plan and structure how to operate to deliver quality products to consumers.

Total Production by State

Total Production by State
Total Production by State in Oil and Gas Production Monitoring Dashboard

This choropleth map shows the total production as BOEPD units of in each state. The dark color indicates more production in the state. This help investors to easily invest their resources in a place worthy of their investment. It also leads to the discovery and development of other states to produce more oil, creating a strong business environment for those states.

Top 3 Oil Producing Wells

Top 3 Oil Producing Wells
Top 3 Oil Producing Wells in Oil and Gas Production Monitoring Dashboard

This bar graph shows the top three oil-producing wells. It helps production teams easily monitor the production process to produce the targeted amount.

Top 3 gas-producing wells

Top 3 gas-producing wells
Top 3 gas-producing wells in Oil and Gas Production Monitoring Dashboard

Total production in last 4 weeks

Total production in last 4 weeks
Total production in last 4 weeks in Oil and Gas Production Monitoring Dashboard

This stacked area chart shows the oil and gas produced over the last four weeks in BOEPD units. It gives a production manager an overview of oil and gas produced for the last four weeks, allowing them to come up with ideas to facilitate production techniques to increase production.

This bar chart shows the top three gas-producing wells. It assists the production team lead in easily monitoring gas production and producing adequate gas to reach market demand.

To learn more about the metrics and KPIs used in this dashboard example, refer to the Oil and Gas Production Monitoring Dashboard demo.

How to embed analytical tools into oil and gas apps

Let’s see how analytics can be embedded into oil and gas web applications. Bold BI helps you embed dashboards in more than 18 web app platforms, including React with ASP.NET CoreReact with GoWinFormsNode.jsVue with GoVue with ASP.NET Core, and more. In the remainder of this blog, I am going to explain how to embed dashboards into your Angular applications.

Consider a scenario where your oil and gas company has a website like the one shown in the following image.

 Sample Website of Oil and Gas Industry
Sample Website of Oil and Gas Industry

Prerequisites

Download and install the Bold BI server on your local machine and create a dashboard. You can find the installation and deployment steps here.

Step 1: Create an Angular application.

To successfully embed a dashboard in your application, you first need to create an Angular application. Create a new Angular project in Visual Studio Code and add the necessary TS files to the project as shown in the following image.

Adding Necessary TS Files
Adding Necessary TS Files

For more guidance, refer to the sample code in the Bold BI documentation.

In this demonstration, the Angular application acts as a client, and an ASP.NET Core application acts as a server. You need to add several properties in the app.component.ts file as shown in the following table and screenshot.

Properties Property Value Descriptions
RootUrl Bold BI dashboard server URL. For example:

http://localhost:5000/bi,

SiteIdentifier For Bold BI, it should be something like “site/site1.”

For Bold BI Cloud Analytics Server, it should be an empty string.

Environment Your Bold BI application environment.

If using Bold BI Cloud Analytics Server, you should use “cloud.” If using Bold BI, you should use “enterprise.”

User Email The Bold BI server will use an email address to authorize the authorization server.
Adding Required Variables in the app.component.ts File
Adding Required Variables in the app.component.ts File

After adding these properties, we need to create the Bold BI instance.

Step 2: Create a Bold BI instance.

After the Angular web application is created, you need to create a Bold BI instance to communicate between the server side (any web application) and the client side (Angular application), which allows you to embed a Bold BI dashboard in the Angular application.

Step 3: Create an authorization server to authenticate the Bold BI server.

Every application that embeds a Bold BI dashboard or widget must be authorized with the Bold BI server. This authentication step requires sending confidential information to the Bold BI server, such as users’ email addresses, group data, and embed signatures. So, in your server application, implement this authentication flow and provide the URL for connecting to your server in the Bold BI instance.

Step 4: Run the Angular application to view the embedded dashboard.

In the Angular application, update the authorization URL and dashboard URL that were defined in the ASP.NET Core application. Finally, you can see that the dashboard created in the Bold BI server is embedded in your web application.

By following the previous steps, you can successfully embed your dashboard into your Angular application.

Dashboard Embedded in an Angular Application
Dashboard Embedded in an Angular Application
"Oil and Gas" Dashboard Embedded in an Angular Application
“Oil and Gas” Dashboard Embedded in an Angular Application

To learn more about embedding dashboards into your Angular applications, refer to the blog “Embedding Bold BI Dashboards in an Angular Application.” You can also download the sample code used in the previous steps from our documentation.

Conclusions

Bold BI  helps you integrate dashboards in your applications written in ASP.NET CoreASP.NET MVCAngularASP.NET, and Ruby on Rails. It will save you time and prevent you from doing redundant work. Click this link to explore its features. To learn more about embedding dashboards into your applications, refer to this blog and our help documentation.

I hope you now have a better understanding of Bold BI and how it can help the oil and gas industry do better in monitoring their production processes. You can create any kind of dashboard you like with Bold BI’s 35+ widgets and 130+ data sources.

Get started with Bold BI by signing up for a free 15-day trial and create interactive business intelligence dashboards. You can contact us by submitting questions through the Bold BI website or, if you already have an account, you can log in to submit your support questions.

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