Gruy Petroleum to install real-time well data collection devices


Gruy Petroleum Management Co., a subsidiary of Magnum Hunter Resources Inc., Irving, Tex., on Monday said it has formed a strategic alliance and capital investment with internet technology company Aurion Technologies Inc., of Dallas. Gruy will use remote monitoring devices on producing oil and gas properties to obtain real-time well data, transmitted through the internet by Aurion. The data will allow personnel to efficiently monitor and control production.

Under terms of the agreement, Gruy will install about 2,000 monitoring devices on certain of the properties it manages. Some are owned by Magnum Hunter, and others are operated for third parties. Aurion's data center, located in Dallas, will manage the daily communication of information from the fields and make it available through the internet to Gruy field offices in Shamrock, Midland, and Gainesville, Tex.; Hobbs, NM; Oklahoma City; and Taylor, Ark.; and to company headquarters in Irving, Tex.

The devices will enable Gruy's petroleum engineers and field operating personnel to more efficiently monitor and control daily oil and gas production.

The equipment to be installed on these properties include plunger-lift controllers, pump-off controls, storage tank and separator monitors, electronic flow measurement devices, and other sensory monitoring equipment.

As part of the deal, Gruy is also acquiring a minority stake in Aurion, with warrants to expand that position as Gruy further deploys Aurion's remote monitoring units throughout its operated properties. And Magnum Hunter Pres. and CEO Gary C. Evans will join Aurion's board of directors.

"The use of the new technology will give our operating personnel the opportunity to obtain 'real time' well data in a format that will allow us to more efficiently manage labor-intensive producing properties," says Evans.

By using this technology, both companies believe that they can achieve significant operating efficiencies for upstream oil and gas companies and reduce the actual lifting cost for the Gruy-operated wells in addition to providing critical well data in a more timely manner for supervisors.

Gruy is one of the country's largest oil and natural gas property management companies, overseeing ownership interests in more than 3,000 properties and operating 2,255 wells in the US Southwest and the Gulf of Mexico.

Related Articles

Magnum Hunter names reservoir engineering vice-president

03/05/2015 Magnum Hunter Resources Corp., Houston, has appointed Charlie Gibson as vice-president of reservoir engineering, effective. He will report to Gary ...

Magnum Hunter slashes budget by 75%

02/18/2015 Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned f...

Magnum Hunter to move headquarters to Dallas

08/07/2014

Magnum Hunter Resources Corp. plans to relocate its corporate headquarters from Houston to the Dallas area effective on or about Dec. 31.

Magnum Hunter finds Utica gas

02/14/2014 Magnum Hunter Resources Corp. (MHR), Houston, has reported a dry gas discovery on its first Utica shale well. The Stalder No. 3UH had peak producti...

Magnum Hunter approves $400 million capital budget for 2014

12/13/2013 The board of Houston independent Magnum Hunter Resources Corp. has approved a $400 million capital expenditure budget for fiscal year 2014, excludi...

Ohio

10/29/2009 Magnum Hunter Resources Corp., Houston, signed a definitive agreement to acquire Triad Energy Corp., private Reno, Ohio, oil and gas concern, out o...

Magnum Hunter reports management additions

10/06/2009

Houston independent Magnum Hunter Resources Corp. reported several management additions.

Magnum Hunter names Frazier president, CEO

03/15/2005 Magnum Hunter Resources Inc., Irving, Tex., has named Richard R. Frazier president and CEO of the company on an interim basis through closing of th...

Cimarex Energy acquiring Magnum Hunter

01/26/2005 Cimarex Energy Co., Denver, is acquiring Magnum Hunter Resources Inc., Irving, Tex., in a $2.1 billion transaction.
White Papers

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by
Available Webcasts


The Resilient Oilfield in the Internet of Things World

When Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.

register:WEBCAST



On Demand

Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors

register:WEBCAST


Driving Growth and Efficiency with Deep Insights into Operational Data

Wed, Aug 19, 2015

Capitalizing on today’s momentum in Oil & Gas requires operational excellence based on a clear view of what your business data is telling you. Which is why nearly half* of oil and gas companies have deployed SAP HANA or have it on their roadmap.

Join SAP and Red Hat to learn more about using data to drive process improvements and identify new opportunities with the SAP HANA platform running on Red Hat Enterprise Linux. This webinar will also show how your choice of infrastructure impacts the performance of core business applications and your ability to achieve data-driven insights quickly and reliably.

*48% use SAP, http://go.sap.com/solution/industry/oil-gas.html

register:WEBCAST


OGJ's Midyear Forecast 2015

Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected