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Lone Star’s Dynamic Risk Management Featured at IADC Forum

Technology can make drilling less dangerous. The Industrial Internet of Things will help.

Andrew Hartigan of Lone Star Analysis will give a presentation on “Dynamic Risk Management” at the International Association of Drilling Contractors (IADC) Technology Forum focused on Innovations in Drilling Safety.

Mr. Hartigan will focus on how to integrate data and insight from multiple organizations, decisions, and real-time data feeds. This creates holistic understanding of risk and how risk accumulates or diminishes. The industrial internet of things (IIoT, or IoT) will accelerate the power of Dynamic Risk Management. The IADC event will be hosted by GE at the GE Oil & Gas Learning Center, in Houston, on November 9.

Senior Lone Star authors have published related materials on Lone Star’s website, and in SPE Journals. A video of the risk modeling simulation of the Deepwater Horizon disaster is also available to be viewed at https://www.youtube.com/watch?v=LVqEtLez60s.

Lone Star’s AnalyticsOS™ (AOS) enables Dynamic Risk Modeling. AOS is an advanced real time predictive and prescriptive analytics suite of tools. It enables deployment of true cause-and-effect based operational models at the point of need. AOS applications can operate at the network edge or any other location within the enterprise, with or without a human supervisor, tirelessly solving analytics challenges. AOS uses up to date data from IoT, or any other sensor data stream. This cutting edge technology applies to a wide range of topics, which includes predictive and prescriptive maintenance.

“There is no need for risks to be based on old, subjective assessments,” said Hartigan. “We have the technology today to manage risk dynamically, like any other industrial problem in maintenance, logistics, or operations. AnalyticsOS™ and IoT make it easy to do what used to be impossible.”


About Lone Star Analysis

Lone Star Analysis enables customers to make insightful decisions faster than their competitors.  We are a predictive guide bridging the gap between data and action.  Prescient insights support confident decisions for customers in Oil & Gas, Transportation & Logistics, Industrial Products & Services, Aerospace & Defense, and the Public Sector.

Lone Star delivers fast time to value supporting customers planning and on-going management needs.  Utilizing our TruNavigator® software platform, Lone Star brings proven modeling tools and analysis that improve customers top line, by winning more business, and improve the bottom line, by quickly enabling operational efficiency, cost reduction, and performance improvement. Our trusted AnalyticsOSSM software solutions support our customers’ real-time predictive analytics needs when continuous operational performance optimization, cost minimization, safety improvement, and risk reduction are important.

Headquartered in Dallas, Texas, Lone Star is found on the web at http://www.Lone-Star.com

 

About IADC

Since 1940, the International Association of Drilling Contractors (IADC) has exclusively represented the worldwide oil and gas drilling industry. IADC’s mission is to catalyze improved performance for the drilling industry by enhancing operational integrity and championing better regulation to facilitate safer, cleaner and more efficient drilling operations worldwide. For more information, visit the IADC website at http://www.iadc.org or, for information about the November 9, 2016 IADC Technology Forum visit http://www.iadc.org/event/iadc-dec-technology-forum-9/ .