IHS Markit

Last updated:
5:39pm Nov 14, 2019

 

"IHS Markit and TIBCO mutually serve a variety of the world's energy customers and, by entering into this agreement, will provide leading edge exploration and production workflows, through our acclaimed visual analytics and data science tools."

- Michael O'Connell, TIBCO Chief Analytics Officer

Overview

IHS Markit is a provider of critical information, analytics, and solutions for the major industries and markets, such as energy, that drive economies worldwide. Together with TIBCO, IHS Markit is able to enhance existing workflows in the areas of visualization and integrated analytics, and will accelerate the development of new offerings to meet the requirements of tomorrow's Oil & Gas Exploration & Production companies. This is primarily done through the integration of TIBCO Spotfire with two powerful IHS Markit platforms: Kingdom and Harmony.

Kingdom Analytics

Kingdom is the world's leading software for seismic and geological interpretation. It enables:

  • Better Collaboration - Hit the zone 95% of the time with Kingdom Geosteering. Enhanced collaboration increases productive geology and enables better predictions
  • Higher Productivity - Work smarter and benefit from an intuitive interface and user experience. With Kingdom you can complete 90% of key workflows and reduce your cycle time by half through streamlined workflows, increased performance with large projects, and reduced bottlenecks through shared data and workflows
  • Ease of Use - Rated number one for easiest to use interpretation, Kingdom allows for more time spent on geoscience and engineering versus learning how to use your software. Built-in videos, training and tutorials are a mouse click away, and with Kingdom MyAccount, a one stop portal for support, our knowledge base of help resources, software updates, and training
  • Sophisticated Data Management - Stop wasting time on managing data and get to the business of drilling. Kingdom has the power to manage 1,000,000+ wells, all while avoiding duplication, lost data, with a multi-user environment that will not bog you down
  • Lower Cost of Ownership - Save an average of 6 times the cost over the nearest competitor as Kingdom increases performance and scalability while lowering the cost of high technology software and systems. Contact us about our bundled technology, combined software and data, and lower costs for IT and infrastructure

Through the power of Spotfire Analytics integrated with Kingdom, users are better able to visualize the data, QC, filter, and run data analytics on their full range of data within Spotfire.

Harmony Analytics

Harmony & Harmony Enterprise are industry leading software for well performance, allowing sophisticated reservoir management and production forecasting tools. Key capabilities include:

  • Extract maximum value from well performance data
  • Reduce IT overhead and training efforts by utilizing one integrated software package
  • Create rigorous Typewells (Type Curves) and forecast reserves
  • Monitor well production through customizable diagnostic dashboards
  • Assess reserves risk with probabilistic forecasting
  • Run 'what If' scenarios to assess the impact of alternative well spacing, completion design, or artificial lift mechanisms

Events

URTeC 2019 - Denver, Colorado

At the Unconventional Resources Technology Conference in July 2019, IHS Markit and TIBCO Software co-presented on using advanced workflows between Kingdom and Spotfire. Users are able to explore subsurface geological data in Kingdom, send Horizon data to Spotfire, calculate Principal Components out-of-the-box, and perform deeper analyses such as unsupervised machine learning for clustering and geoanalytics for well spacing.


Users may explore seismic and geologic data in Kingdom

 

 


A Self-Organizing Map (SOM) is an Artificial Neural Network (ANN) used to extract key features from seismic data

 


Sophisticated interwell  spacing calculations can be performed in Spotfire or Kingdom, then intersected with Total Organic Carbon (TOC) to optimize well planning

Read more about the conference presentation in TIBCO's Technical Blog Post.

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