Resource Energy Solutions (RES): Enhancing Well Integrity

Resource Energy Solutions (RES): Enhancing Well Integrity

Trent Marx, CEO, Resource Energy SolutionsTrent Marx, CEO
Throughout the early to mid 2000s, the oil and gas industry incurred heavy cost increases because of an upsurge in crude oil prices, leading to increased operational costs from the industry’s service providers. This contributed to an environment to drill as fast as possible, at any cost, leading to poor data and cost management. Today’s energy companies are increasingly adopting new, advanced technologies like cloud computing and data analytics to empower operational efficiency and enhance well integrity with integrated solutions. Resource Energy Solutions (RES) is leading the charge when it comes to that adoption.

Established as a reporting software solutions provider in 1995, RES is a staple in the energy industry today with cutting-edge project and cost-management technology solutions. RES’ capital tracking software, AFE (Authorization for Expenditure) Manager, uses the Public Petroleum Data Model with N-Tier open architecture and is built on the RES.NET framework. It enhances efficiency, control, and accountability of all capital investments, which enhances the bottom line.

Wellman NextGen, which is an integral part of RES’ solution suite, is the well life-cycle project, cost and data management application providing key reporting and cost management solutions. The application acts as a conduit and syncs data between head offices and field users. It generates customized reports with precision that cannot be achieved in spreadsheets. Wellman well data management solution also captures daily in-field costs and activities such as drilling, completion, well intervention, and abandonment. This allows for data extraction in real-time, centralized data sharing among all stakeholders, and enhanced transparency across the organization.

Wellman NextGen allows data extraction in real-time, enabling centralized data sharing among groups and hence enhances transparency across the organization

Wellman helps E&P companies to collect data just like in excel but with automated reporting, document management, analytics, auditability, and quality assurance. “Wellman saved us over $1M by having the right data, on time, to avoid costly operations and regulatory issue and penalty,” says RES customer, Manager-Technical Services of a public E&P company.

Additionally, RES Midstream Manager is a project life cycle software which assists organizations in tracking project performance, planning, and execution from start to finish throughout construction pipeline or facilities projects. It is an effective tool that can monitor, control, and report field and office costs, as well as the daily activities of an energy company. Midstream Manager’s ease of use ensures optimized accessibility to mission-critical data. The product also eases the training and operation process.

On-boarding clients is seamless, as all offerings of RES are cloud-based. System integration is achieved through APIs and cloud migration facilitates easy transfer of data. RES also offers support options that transcend the boundaries of SLAs. The firm has support centers that are functional 24/7. “Our clients have always heaved praises to our support framework,” says Trent Marx, CEO, RES.

Going forward, RES has major geographical plans in the Middle East, Africa, South America, and Mexico. The firm is set to introduce a number of disruptive and innovative software solutions to the energy landscape, along with enhancing the feature-set of existing products. And, while all of that is being implemented, Marx says, RES has boundless opportunities for growth and discovery, to set the pace with the ever-changing technologies.