HNR Acquisition Corp Announces AI Innovations Planned to Reduce Operating Expenses and Improve Efficiencies
HNR Acquisition Corp (NYSE American:HNRA), an independent upstream energy company with oil and gas properties in the Permian Basin, has announced the implementation of AI-driven automation techniques to enhance operational efficiencies and oil production. The company is piloting a state-of-the-art software application that consolidates multiple apps into a single platform for field operators. Key features include single entry input, sensor data integration, and route optimization. The initiative aims to reduce operating expenses, improve safety, increase uptime, and enhance environmental compliance.
This AI implementation follows recent efforts by HNRA to boost efficiency and production, including a successful chemical treatment program that added over 80 BOPD and infrastructure upgrades to improve reliability and consistency in operations.
HNR Acquisition Corp (NYSE American:HNRA), un'azienda indipendente del settore energetico con proprietà di petrolio e gas nella Permian Basin, ha annunciato l'implementazione di tecniche di automazione basate su AI per migliorare l'efficienza operativa e la produzione di petrolio. L'azienda sta testando un'applicazione software all'avanguardia che consolida più applicazioni in una singola piattaforma per gli operatori di campo. Tra le funzionalità principali ci sono l'immissione di dati con un'unica entrata, l'integrazione dei dati sensoriali e l'ottimizzazione dei percorsi. L'iniziativa mira a ridurre le spese operative, migliorare la sicurezza, aumentare la disponibilità e migliorare la conformità ambientale.
Questa implementazione dell'AI segue sforzi recenti da parte di HNRA per aumentare l'efficienza e la produzione, compreso un programma di trattamento chimico di successo che ha aggiunto oltre 80 BOPD e l'aggiornamento delle infrastrutture per migliorare l'affidabilità e la coerenza nelle operazioni.
HNR Acquisition Corp (NYSE American:HNRA), una empresa independiente del sector energético con propiedades de petróleo y gas en la cuenca de Permian, ha anunciado la implementación de técnicas de automatización impulsadas por IA para mejorar la eficiencia operativa y la producción de petróleo. La empresa está probando una aplicación de software de última generación que consolida múltiples aplicaciones en una única plataforma para los operadores de campo. Las características clave incluyen la entrada única de datos, la integración de datos de sensores y la optimización de rutas. La iniciativa tiene como objetivo reducir los gastos operativos, mejorar la seguridad, aumentar el tiempo de funcionamiento y mejorar el cumplimiento ambiental.
Esta implementación de IA sigue a los esfuerzos recientes de HNRA para aumentar la eficiencia y la producción, incluido un exitoso programa de tratamiento químico que añadió más de 80 BOPD y mejoras en la infraestructura para aumentar la confiabilidad y la consistencia en las operaciones.
HNR 인수 주식회사 (NYSE American:HNRA)는 펌프 분야의 석유 및 가스 자산을 보유한 독립적인 상류 에너지 회사로서 운영 효율성과 석유 생산을 향상시키기 위해 AI 기반 자동화 기술을 도입한다고 발표했습니다. 회사는 현장 운영자를 위한 여러 애플리케이션을 통합한 단일 플랫폼으로 최신 소프트웨어 애플리케이션을 시범 운영하고 있습니다. 주요 특징으로는 단일 입력, 센서 데이터 통합 및 경로 최적화가 포함됩니다. 이 이니셔티브는 운영 비용을 줄이고, 안전성을 개선하며, 가동 시간을 증가시키고, 환경 준수를 향상시키는 것을 목표로 합니다.
이번 AI 도입은 HNRA가 최근에 효율성과 생산성을 높이기 위한 노력에 따른 것으로, 성공적인 화학 처리 프로그램이 80 BOPD 이상을 추가했으며 운영의 신뢰성과 일관성을 개선하기 위한 인프라 업그레이드를 포함합니다.
HNR Acquisition Corp (NYSE American:HNRA), une entreprise indépendante du secteur énergétique avec des propriétés pétrolières et gazières dans le bassin de Permian, a annoncé la mise en œuvre de techniques d'automatisation pilotées par l'IA pour améliorer l'efficacité opérationnelle et la production de pétrole. L'entreprise pilote une application logicielle de pointe qui regroupe plusieurs applications sur une seule plateforme pour les opérateurs de terrain. Les principales caractéristiques incluent une saisie unique des données, l'intégration des données des capteurs et l'optimisation des itinéraires. L'initiative vise à réduire les coûts d'exploitation, améliorer la sécurité, augmenter le temps de disponibilité et améliorer la conformité environnementale.
Cette mise en œuvre de l'IA fait suite à des efforts récents de HNRA pour améliorer l'efficacité et la production, y compris un programme de traitement chimique réussi qui a ajouté plus de 80 BOPD et des mises à niveau des infrastructures pour améliorer la fiabilité et la cohérence des opérations.
HNR Acquisition Corp (NYSE American:HNRA), ein unabhängiges Unternehmen des upstream-Energie-Sektors mit Öl- und Gasvorkommen im Permian Basin, hat die Implementierung von KI-gesteuerten Automatisierungstechniken angekündigt, um die Betriebseffizienz und die Ölproduktion zu verbessern. Das Unternehmen testet eine moderne Softwareanwendung, die mehrere Apps in einer einzigen Plattform für die Feldbetreiber zusammenführt. Zu den wichtigsten Funktionen gehören die Einzel-Dateneingabe, die Integration von Sensordaten und die Routenoptimierung. Die Initiative zielt darauf ab, die Betriebskosten zu senken, die Sicherheit zu verbessern, die Betriebszeit zu erhöhen und die Umweltkonformität zu verbessern.
Diese KI-Implementierung folgt auf jüngste Bemühungen der HNRA, die Effizienz und Produktion zu steigern, einschließlich eines erfolgreichen chemischen Behandlungsprogramms, das über 80 BOPD hinzugefügt hat, sowie Infrastrukturverbesserungen zur Steigerung der Zuverlässigkeit und Konsistenz in den Betrieben.
- Implementation of AI-driven automation expected to reduce operating expenses and improve efficiencies
- Pilot testing of a consolidated software application for field operators
- Potential for improved safety, uptime, and environmental compliance
- Recent chemical treatment program resulted in additional production of 80+ BOPD
- Infrastructure upgrades completed to enhance reliability and consistency in operations
- Initial costs associated with implementing new AI technology and software
- Potential challenges in training staff to use the new consolidated application
- Risks associated with relying heavily on technology for critical operations
HOUSTON, TX / ACCESSWIRE / September 12, 2024 / HNR Acquisition Corp (NYSE American:HNRA) (the "Company" or "HNRA") is an independent upstream energy company with oil and gas properties in the Permian Basin. Today, the Company announces that the field is rolling out improved automation techniques that will lead to operational efficiencies and enhanced oil production.
The Company has contracted with a software provider to pilot test a state-of-the-art software application ("app") that will allow the field lease operator to use a single App versus multiple apps, which will lead to enhanced operations. The pilot test will be with two of our field operators, and then roll-out to all our field operators.
Key attributes of the automation include:
Consolidating into a single application for the tool to be used by the operators
Single entry input
ProdView production inputs
Sensor data (TP & CP)
XSPOC data from pumping wells
Import pressure, rate and volume data from each Water Station
Import tank gauge data from TankLogix
Gas meter readings
Replace Microsoft Teams as our daily field communicator to tie communications to locations, tasks, actions, and outcomes
Optimize field team routes to our wells and tank batteries to reduce miles driven and fuel consumption
Operate by exception by identifying wells that are not operating normally to accelerate remediation and maintain or increase production
Provide a single source to order parts for maintenance to optimize supply chain spend
Identify opportunities for full automation based on existing infrastructure and telemetry
Key cost savings include:
Improved safety with real time monitoring and alarms of critical systems
Improved uptime by having all producing wells alarmed so an operator does not lose time to address and correct a problem
Improved environmental compliance with a greatly reduced risk of mishaps by having all critical tank batteries and satellites monitored and alarmed
Less driving time to "check up on things" when you have a dashboard and cameras to monitor field operations
Efficiencies that will allow the field crews to bring new wells into production without additional costs
"This will greatly enhance the field operations. The field team will be able to identify problems sooner and initiate corrective actions quicker. These efficiencies and the field route optimization will allow us to deploy the field crews to perform other efforts as we increase our field development and bring new wells into production," said Jesse Allen, the Vice President of Operations.
The implementation of AI automation improvements in the field follows a number of initiatives undertaken by HNRA to reduce OPEX, improve efficiencies and increase production.
On August 21, 2024, HNRA announced it has commenced a chemical treatment program where the initial results of the pilot program have been successful and very encouraging with an additional production of 80-plus BOPD.
On August 15, 2024, the Company announced: it has upgraded satellite test stations for improving overall reliability; has improved and increased electrical capacity and reliability with the completion of a number of electrical upgrades; and infrastructure improvements and upgrades with flow line improvements which will improve consistency in operations and will result in improved production from our producing wells.
About the Oil Field Property
In November 2023, the Company acquired LH Operating, LLC ("LHO") including its holdings in New Mexico of oil and gas waterflood production comprising 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and 3 state leases in the Grayburg-Jackson Oil Field. The Grayburg-Jackson Oil Field is located on the Northwest Shelf of the prolific Permian Basin in Eddy County, New Mexico.
Leasehold rights of LHO, now a wholly owned subsidiary of the Company, include the Seven Rivers, Queen, Grayburg and San Andres intervals that range from as shallow as 1,500 feet to 4,000 feet in depth. The December 2023 reserve report from our third-party engineer, William H. Cobb and Associates, Inc. ("Cobb"), reflects LHO to have proven reserves of approximately 15.4 million barrels of oil and 3.5 billion cubic feet of natural gas. The mapped original-oil-in-place ("OOIP") in the LHO leasehold is approximately 876 million barrels of oil in the Grayburg and San Andres intervals and 80 million barrels in the Seven Rivers interval for a total OOIP of approximately 956,000,000 barrels of oil.
Our primary production is currently from the Seven Rivers zone. In addition to proven reserves, the Company believes we may access an additional 34 million barrels of oil by adding perforations in the Grayburg and San Andres formations. With proven oil reserves of over 15 million barrels, combined with the potential 34 million additional barrels from the Grayburg and San Andres zones, LHO should produce oil and a revenue stream for more than two decades with a slow decline rate.
About HNR Acquisition Corp
HNRA is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in the United States. HNRA's long-term goal is to maximize total shareholder value from a diversified portfolio of long-life oil and natural gas properties built through acquisition and through selective development, production enhancement, and other exploitation efforts on its oil and natural gas properties.
HNRA's Class A Common Stock trades on the NYSE American (NYSE American: HNRA) and our public warrants trade on the NYSE American (NYSE American: HNRAW). For more information on HNRA, please visit the Company's website: https://www.hnra-nyse.com/
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," "may," "might," "plan," "possible," "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
mike@plrinvest.com
SOURCE: HNR Acquisition Corp
View the original press release on accesswire.com
FAQ
What AI innovations has HNR Acquisition Corp (HNRA) announced for its oil operations?
How does HNRA expect the new AI system to reduce operating expenses?
What recent initiatives has HNRA undertaken to improve production and efficiency?
When did HNRA announce its chemical treatment program and what were the results?
