Blue River Analytics: Bringing Life to Energy Data

Blue River Analytics: Bringing Life to Energy Data

CIO VendorJohn Buckley, President & Co-founder
When Mindy Stone and John Buckley founded Blue River Analytics in 2014, they had only one aim in mind—helping upstream oil and gas companies create competitive advantages with advanced visual and predictive analytic tools. Three years later, with over 100 customers and high customer satisfaction marks, they have already hit the bull’s eye! “We have shaped Blue River by taking bits and pieces of what we learned from our prior organizations and built a company with steady, yet flexible and nimble, delivery methodology that is saving our customers incredible amounts of time, reducing costs, and increasing productivity,” mentions John Buckley, President and CEO, Blue River Analytics.

Being a strategic partner of TIBCO, Blue River Analytics extends the power of TIBCO Spotfire—the platform of choice for oil and gas companies— within their customers’ organizations. “We build software that can be installed directly into TIBCO Spotfire for the oil and gas community to use, which in turn allows them to derive immediate and measurable value,” says Stone, who is the CTO at Blue River Analytics. This allows organizations to instantly utilize advanced analytic tools, leveraged by the entire organization; petroleum engineers, geologists, geophysicists, land, finance and more. With a tagline of “helping customers make smarter, faster, high confidence data driven decisions,” the firm works along its six pillars of operations; Oil and Gas Industry Focused Software, Spotfire Oil and Gas Training, Professional Services and Consulting, Data Science, Spotfire Support Services and Spotfire Technical Services—Spotfire installation, upgrades and security configuration services—to their clients.

Blue Rivers' most unique offering is their Energy Analytics Workbench (EAW) which provides a complete, end-to-end Spotfire workflow. It proffers direct live access to all of an organization’s vendor data, which simplifies the life and economics of forecasting a well, or fitting any data to statistical distributions interactively.

We help our customers make smarter, faster, high confidence data-driven decisions

The EAW improves the decision making of an oil and gas organization by utilizing the most advanced analytical tools such as Mapalytics, Decline Curve Analysis, Probability Plot, Kriging, Acquisition Analysis, and Energy Data Conduit. While Mapalytics creates a seamless integration between Esri maps with Spotfire, the main goals are to plot wells by location, edit shape files, create/draw new shape files, and measure distances. Decline Curve Analysis will provide EURs, b-factors, terminal declines, etc. for each well and the average type curve while also calculating the economics for wells, including the Net Present Value (NPV), Payout and Internal Rate of Return (IRR). The Probability Plot and Kriging components of the EAW allow users to select and drill down on any measures and dimensions for analysis through Spotfire’s intuitive interface, and provide the capability to identify any numerical quantity associated with a latitude and longitude respectively. Additionally, licensed commercial data is regularly downloaded and synchronized with a local SQL Server replica database and local file shares by Energy Data Conduit to assist organizations in making decisions faster with ‘fresh’ data.

Furthermore, Blue River Analytics supports their offerings with Spotfire Training services that are specifically designed for the oil and gas community. “We use the companies’ data to deliver a rich, meaningful training experience to our on-premise customers—well over 50 to date. We also recently launched a comprehensive OnDemand training platform—at the request of our customers—allowing users to access and review our Blue River 101, 102, and 103—intro, intermediate, and advance— Spotfire training courses in the comfort of their office, home or any place of their choice,” adds Stone.

Blue River’s consultative approach, utilizing industry and Spotfire experts, assists organizations in maximizing the value of their TIBCO Spotfire software investment. “We start our engagement by attaining a clear understanding our prospects issues and challenges. Understanding the problem allows us to take a prescriptive problem-solving approach,” Buckley adds. “Our Product Roadmap is highly influenced by our customers and at some point, we plan on expanding our footprint into Canada."