Why it's great to work with Blue River Analytics

I have been working with Blue River Analytics for almost 2 years now and it is a great story of continuous and never ending improvement.

Now in it's 6th year of operations, Blue River Analytics are proud to serve and deliver unmatched value to our 150+ customers and counting. As the industry’s only remaining independent oil and gas analytics boutique shop, specializing in TIBCO Spotfire – all the others are now under private equity control or have been acquired by large organizations - we are laser focused on delivering value to our customers, and have assembled one of the finest teams in the world. We boast 150+ years combined experience – far more than any of our “younger competitors”. 

Our team includes petroleum engineers, MBA’s CFA’s, MBA’s, data scientists, IT specialists, geologists & geophysicists - as well as 25+ years crafting, designing and engineering customer-driven Spotfire oil & gas workflow solutions, including our flagship Energy Analytics Workbench® valuation solution, deployed and battle tested at many well-known financial institutions and upstream operators.

We also have two popular Spotfire LOE/LOS templates, created by my consulting colleague Steve Piper, which can quickly transform your usual oil and gas financial reporting into an unlimited number of dimensions and analytical insights.

We are currently building new advanced analytic tools for scenario planning and optimization, led by my consulting colleague Jason Joslin.

Our Spotfire 10 on-demand training (Beginner, Intermediate and Advanced) using Oil & Gas data, built and delivered by the excellent Allie Jackson will take your Spotfire skills to the next level.

Blue River have an excellent financial track record – profitable every single year in operations, and have a growing reputation in the industry as the company who delivers on our promises. We do what we say we are going to do.  

Returning to the latest release of the Energy Analytics Workbench® (EAW 20). Over the last 18 months Steve Hoye (CTO) and myself have rebuilt this tool from scratch based on a much simplified workflow with greatly enhanced functionality. We have spent hundred's of hours with our customers and prospects building their feedback and ideas into the tool to deliver the EAW 20 we have today.

FEATURES OF ENERGY ANALYTICS WORKBENCH® v COMPETITORS:

1.      Markov Chain Monte Carlo (MCMC), Bayesian statistical decline curve analysis: this technique takes any subset of production data and uses a form of machine learning to generate any number of best-fit decline curves that have the highest likelihood of explaining (noisy) production data. This results in a family of decline curves where for example, P10, P50, P90 EUR curves can be highlighted, used as type curves, and used for economic analysis, yielding low, likely, and high-case economics. None of our competitors have MCMC in their product. Most use a simple ARPS deterministic approach.

2.      Segment Identification: Advanced auto-fitting algorithms trend only the most recent flow segment to more accurately predict future production (and associated cash flows). None of our competitors boast Blue River’s proprietary “start-stop” algorithm.

3.      Advanced Normalization Techniques: Analyze production records against well header attributes using Principal Component analysis (PCA) and Multivariate analysis (MVA) statistical techniques. Blue River’s “advanced normalization techniques” are currently the most innovative approach to normalization in the industry.

4.      Waterfall Economics: Analysis of any type curve or individual well, using detailed monthly cash flows for up to 40 years. Pricing curves can be custom defined. None of our competitors can boast the granularity of our economic module. From rates of return to PV schedules and push-button export to Aries & PHDWin, Blue River delivers on the numbers.

5.      Seamless Integration: Easily connect to our popular Probit Analysis and Competitive Surveillance tools. The Probability Plot application template from Blue River uses the advanced modeling power of Spotfire to interactively fit any data to statistical distributions. This application allows the user to select and drill down on any measures and dimensions for analysis through Spotfire’s intuitive interface, and view the probability values in a visual environment. None of our competitors can match the advanced functionality and completeness of EAW 20 and the Probit Analysis tools.

No robots. No extensions. Our PURE Spotfire software architecture leverages the horsepower and capabilities of the “local machine” reducing the likelihood of errors and avoids lengthy round-trips of data to the cloud.

Last but not least Blue River's founder and CEO John Buckley, endless enthusiasm for what we do, looking after customers, sales, marketing, training, webinars. We know these are tough times in Oil and Gas and for whatever reason some have let their Blue River subscriptions lapse. To all our customers, past present and future, please stay in touch, John Buckley would be delighted to hear from you. The team at Blue River are ready to work with you to take your Oil & Gas analytics to the next level.