Based in Montana, Jake Oil, Jake Oil & Gas Consultants and Jake Oilfield Rental and Supply serve oil and gas clients throughout the Rocky Mountain region and Kansas. As oil and gas exploration and consulting companies, they drill and complete wells, handle construction, design pipelines and perform production evaluations.
The company's experienced team of professionals evaluates coalbed methane and other oil and gas projects, from the initial geologic evaluation through the completion and installation of production facilities and compression.
When Jake Oil began in 1996, it focused on its own oil and gas producing interests. But when other operators began looking to the expertise of Eric Olsen and his team of petroleum engineers for economic and geological evaluations, drilling and completion engineering, and testing, he added consulting and equipment rental services.
Jake Oil knows firsthand the specific challenges of Rockies drilling environments, and performs extensive due diligence as it plans drilling programs for operators. "There are a lot of areas of sticky or swelling shales in the Rockies," said Eric Olsen, President. "If you don't fully understand old wells and the drilling mud, then you may be fishing - which can cost you a lot of money or risk losing a well."
With a stated goal of trimming at least 20 percent off old drill curves for clients, the Jake Oil team needs comprehensive drilling history data for planning.
All Data on One, Accurate Sheet
Long before Olsen started Jake Oil, he turned to IHS Markit Offset Drilling Data for detailed analyses on previously drilled wells. IHS Markit Offset Drilling Data serves as the company's main source of current and comprehensive drilling information.
Jake Oil and its affiliated companies use IHS Markit Offset Drilling Data on nearly every drilling project.
"Everything we need to know to make decisions and design a drilling program is on one sheet - and accurate," Olsen said. "There's limited need to call operators or wade through state records."
The company accesses IHS Markit Offset Drilling Data online, pulling up key wells based on search criteria. Using the Rig Activity map, which is updated weekly, engineers see an overview of all wells currently being drilled in an area, and can click on each one for more information such as depth ranges and contractors.
With IHS Markit Offset Drilling Data, we determine how we can drill a new well better. If another one in the area took 120 days, how can we drill it in 90 days? The data is in a quick reference format so we can make decisions and avoid problems.
'Gets Us Ready to Drill'
When Jake Oil & Gas Consultants begins a project, engineers first consult IHS Markit Offset Drilling Data. They look at hole and casing sizes for guidance in sizing the planned well. In turn, they know whether they need to account for a large salt section or isolate with steel casing (steel filter cake) or a liner.
IHS Markit Offset Drilling Data also provide drilling fluid data, rate vs. time curves, circulation and pressure data, bit program information and even driller comments.
"We use IHS Markit Offset Drilling Data to design the hole efficiently and drill as quickly as possible," Olsen said. "We see all the problems that other operators had and can make decisions accordingly."
With the complete drilling record on hand, Jake Oil takes into consideration bit technologies and fluids relative to the number of days to drill.
"With IHS Markit Offset Drilling Data, we determine how we can drill a new well better," he said. "If another one in the area took 120 days, how can we drill it in 90 days? The data is in a quick reference format so we can make decisions and avoid problems. It gets us ready to drill the well. Then we build a program and can explain to the client why we recommend a certain approach."
Lower Overall Costs
With IHS Markit Offset Drilling Data, Jake Oil reduces the amount of time it takes to design a drilling program for clients. Olsen estimates that having those records readily available saves approximately two weeks of preparation time - allowing the company to save clients money on the front end. Clients likewise benefit from more accurate budgeting.
He also credits IHS Markit Offset Drilling Data for providing more accurate data than the company could obtain by calling other operators. "You don't always get the data that you want over the phone," he said. "You can miss something and the data is not always objective."
With more insight into offset wells, Jake Oil merges its knowledge with the data to engineer drilling programs that take less time, cost less overall and reduce risk.
"We use IHS Markit Offset Drilling Data to optimize drilling programs for operators," Olsen added. "It helps us plan so we can reduce drilling time and serve clients better. We always try to be 20 percent more efficient than in the past, if not better. This helps us improve bit technology and penetration rates tremendously."