DENVER, COLORADO, Feb. 3, 2015 (GLOBE NEWSWIRE) -- TrigPoint Solutions (www.trigsol.com), a leader in O&G technology solutions, has announced the release of RIGIQ®, a prescriptive analytics software designed to eliminate NPT.
RIGIQ® analyzes well, operations and performance data to highlight trends, patterns, and important KPIs in order to provide context for future actions. For current TrigPoint customers, it integrates seamlessly with PROMPTT®, the company's asset management and operations platform.
"We've been able to statistically prove the correlation between work performance on rigs and NPT," says Greg Slater, President of TrigPoint Solutions. "By automating operational processes and managing compliance, our PROMPTT® clients reduce their NPT by an average of 40%."
"RIGIQ® was created to eliminate the rest."
NPT costs the industry billions a year. For oil and gas companies, this can equate to a third of their drilling budgets. Current TrigPoint clients save an average of $100,000 per rig in NPT costs, but RIGIQ® users save even more.
In addition to real-time monitoring and forecasting, RIGIQ® also acts as an optimization tool. The software tells users precisely what specific operational changes are required to eliminate NPT.
"Clients are shocked when we prove how accurate our forecasting is - and they quickly see how much their current projections are going to cost them," Slater continues. "Minor, low-cost fixes that you address today or consistent routines can eliminate millions of dollars in damage and NPT down the road. The key is knowing what variables are going to have the most effect on your future."
"Data analytics is widespread in this industry, but RIGIQ® addresses specific operational processes," concludes Slater. "Business intelligence is a key differentiator and essential for operating at maximum efficiency. By combining a powerful operations management platform and prescriptive analytics, rig operations become more efficient from day one."
Clients using another asset management or operations platform will also have the option of leveraging this powerful analytics tool.
For more information on RIGIQ® and PROMPTT®, please visit www.trigsol.com/solutions.
Stay in control. Stay in the know.
- Manage Operations
RIGIQ® monitors all of your PROMPTT® data and reports trends and history across all rigs, so that you can immediately spot which processes or maintenance activities need attention.
- Analyze Patterns
Do you know which rigs have the highest compliance, or which components require the most work orders, or are the most costly? RIGIQ® does. Key operations data is analyzed so that you can see deficiencies and downtime triggers.
- Predict Likely Outcomes
You might have educated guesses as to what could reduce your NPT, but RIGIQ® predicts it with 90% accuracy. From non-compliant teams to work not being performed, RIGIQ® predicts which specific variables will have the most impact on downtime and when it will occur.
- Optimize for a Better Future
RIGIQ® goes beyond prediction - it will also tell you what specific variables - be they individuals, teams, maintenance activities, rig and component types, or processes - you need to change to create the best possible outcome.
About TrigPoint Solutions
TrigPoint Solutions, Inc. is an established leader in developing cutting-edge mobile technology that enables drilling and service contractors to build safer, more productive, and more profitable businesses. TrigPoint Solutions' integrated asset management, operations, and data analytics systems are used by onshore and offshore contractors at over 700 locations worldwide.