Sourcewater, Inc. has unveiled 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.
Sourcewater Founding CEO Josh Adler said that DirtWork Alert is the next generation of energy intelligence. Every other service shows what happened in the past, dredging up unreliable regulatory data and serving it past expiration. The company's 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.
Adler noted that the company's satellite imaging technology identifies real-world activity on a near-daily basis and reports it instantly — clients see opportunities and competition in their areas of interest ahead of the rest of the market. Sourcewater often sees 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. Needed would be 150 people, working 24/7, to cover the 100,000 square-mile Permian Basin at the firm's cadence without these patented AI-enabled methods.