Novi Labs

AI use cases in oil and gas

What can chess teach us about artificial intelligence in oil and gas?

If, like me, you haven’t seriously played chess since you were young, you may find the advancements in chess artificial intelligence (or chess “engines”) incredible. But can chess teach us about the future of artificial intelligence in oil and gas?

Chess has long been a focus of artificial intelligence research. The game offers both clear rules (to easily measure success) and sufficient complexity (with at least 10^120 possible moves, no computer will ever be able to “solve” the game, unlike checkers). We certainly have complexity in the oilfield – but we also have the ability to measure success in the form of barrels produced, feet of pay encountered, or time to process a seismic volume.

In this post, we’ll walk through the latest AI in oil and gas market developments in chess and how they might impact the oilfield. Read the full post here.

Machine Learning Regional Profiles for Geologic Insights: Mapping Unconventional Production Drivers in the Williston Basin

What drives unconventional oil production? Of course completions, parent-child, and well spacing all play a huge role — but it all starts with the rocks.

We walk through a powerful new way of visualizing machine learning insights — regional profiles.

Investing in Shale Oil and Gas Wells: Are you the House or the Player?

Are you the House or the Player?

Industry execGarth Stotts continues his series on bias, probability, and risk in the Shale patch with his latest message: successful investments in shale require an understanding of the REAL probabilities of your opportunities, from inputs all the way to cashflow.

Only then will you be in control — and be able to win repeatedly.

Novi Releases Next Generation of AI-Driven Modeling Pipeline, Increasing the Accuracy and Efficiency of PDP Forecasting

09/30/2020: Novi Labs (“Novi”) today announced the release of the next generation of its artificial intelligence-based modeling pipeline. The first application of this patent-pending pipeline integrates a fully automated and highly accurate Proved Developed Producing (PDP) forecasting workflow that is integrated into Novi’s Forecast Engine™.

This allows reservoir engineers and financial analysts at oil & gas operators and financial services companies the capability to automate the generation of PDP forecasts with oil and gas AI software, driving improved accuracy of wedge forecasting, reserves forecasting, and valuation of acquisitions and divestiture opportunities.

Novi’s innovative approach to generating PDP forecasts utilizes Novi’s latest AI modeling pipeline to create highly accurate forecasts. Read the full PR here.

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