Sourcewater scans the entire Permian every 3-5 days to spot well pad construction that predicts new drilling months before permits or rigs
Houston, Texas. — February 5, 2020 — Sourcewater, Inc., announced DirtWork Alert, a patented oilfield satellite intelligence service. DirtWork Alert enables Sourcewater clients to see new Permian Basin oilfield development on the ground as soon as it happens, predicting new drilling months ahead of permit filings or rig movements. The online service also identifies probable lease operators and provides geospatial energy data such as land ownership, wellbores, pipelines, permits, rigs, completions, and production of oil, gas, and water.
“Dirtwork Alert is the next generation of energy intelligence,” said Sourcewater Founding CEO Josh Adler. “Every other service shows you what happened in the past, dredging up unreliable regulatory data and serving it past expiration. Our studies show that drilling permits often come out after the wells were already drilled, or for wells that are never drilled. Most well pads and frac ponds are built months before drilling permits are filed, and construction on the ground is a better indicator of intent to drill than a permit because it represents real work for real dollars.
“Our satellite imaging technology identifies real-world activity on a near-daily basis and reports it instantly, so that our clients see opportunities and competition in their areas of interest ahead of the rest of the market. We often see sitework starting six months before a permit or spud. This is only possible because of advances in computer vision, satellite imagery, artificial intelligence and machine learning. You would need 150 people working 24/7 to cover the 100,000 square-mile Permian Basin at our cadence without our patented AI-enabled methods.”
Sourcewater, Inc., (www.sourcewater.com) based in Houston, Texas, is the leading digital platform for oilfield water intelligence. Sourcewater shows where oilfield water comes from and goes to on the surface and in the subsurface of the Permian Basin and other U.S. shale plays. The company is pioneering geospatial data engineering, satellite imagery analytics and advanced geoscience insights to help the world’s top E&P, oilfield services, and energy investment companies make the best operational, business development, and investment decisions. Sourcewater launched from MIT’s Energy Ventures program in 2014.
Dane Moorefield, VP of Marketing
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