Thanks in advance to all of you that choose to participate in our “Two Question Poll”. I was introduced to this recently and really like it, because it doesn’t bias your responses with what we want to hear, but what you really think. I will share the results in this column soon.
I do want to address a couple of things that I touched on last month… added data. As you should know, we acquired HPDI in November. HPDI got us nationwide production data quickly. It also got us a cool software platform that makes doing big queries and large set analyses very fast and easy… it bypasses the limitations of today’s browser technology.
Whereas every ALL STATE customer is getting expanded production data and permit data (and completion data as the year progresses) for all these new states at no added cost until renewal, and the option to upgrade from our 8 core states to the 30+ states for 25% more come renewal time via the Drillinginfo system, our PLUS customers additionally get the HPDI software. Call us up or go to www.hpdi.com to download your app.
Of the myriad of items I see thus far in the polling, a couple of things will make you happy in this week’s deploy. No more 250 automatic truncation limit. Choose “1000” and it will stay your default from now on. And for those of you that didn’t know… we have a lot of new states in our coverage. Check ’em out.
Several of you want us to take various PLUS features and add them to Basic. That begs the question… why are features in PLUS in the first place?
Basically data is in PLUS because we spent a lot of money developing them and we didn’t think the user base in general would support the overall cost amortization of these big ticket items, especially the smaller users. Allocated production took us two years to get right, historical production a couple of million bucks, well logs a couple of million, land tracts and unit tracts an ongoing multimillion dollar expense and growing out to the rest of the US several million. We made these optional modules. We then bundled all of them into PLUS in order to provide a discount over the straight modular price. The data will show up in BASIC accounts when one of two things occur… we recover our original investment in the data, OR we write the effort off as a “dry hole”. This might be the only case where “dry holes” are good for our members, if not for Drillinginfo! Fortunately, you, our members, have supported us in these capital investments we continue to make by upgrading to PLUS membership. This allows us to add more and more data and create even more functions and utilities. And yes, a couple of PLUS features are ready to migrate to BASIC over the next couple of months.
I recognize that PLUS is currently not affordable to the 1 and 2 man shops. We are working on a solution that some of you will like. I will let you know when we are ready.
We are VERY close to making a step change in how sophisticated Drillinginfo members use and create value from our various data and integrated workflow tools. Our goal at Drillinginfo is that our members realize huge returns from their Drillinginfo membership fees. As such, you need to avail yourself to as much training as possible. Some of you have heard my “Ferrari and the Horsebuggy” analogy. You can use a Ferrari as a horsebuggy, but it might not make the greatest horsebuggy…. it’s heavy and you don’t have an obvious place to hook up the horse. If your goal is to drive a horsebuggy, we might not be the best solution for you. However, if your goal is to get to your destination as fast and fun as you can, then you should be happy with Drillinginfo and it’s BASIC and PLUS offerings. It’s not free, but it is a great deal for most of you, and hopefully, soon, all of you. We look forward to being a part of your efforts to produce US oil and gas.
CEO, Drilling Info, Inc.
Latest posts by Allen Gilmer (see all)
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