Engineers and analysts spend 80% to 90% of their time cleaning up hybrid datasets for machine learning models and analytics. Listen in as Novi Technical Advisors Ted Cross and Kiran Sathaye talk about oil and gas industry challenges with an emphasis on managing data quality, cumbersome workflows and spacing calculation complexity. Novi Data Engine addresses […]
Big Data Management
Making sense of it all: extracting actionable core-data from pXRF using PCA and K-means cluster analysis
WHY CARE ABOUT PXRF DATA? Thanks to relatively short scanning times and low operating cost, portable X-ray Fluorescence (pXRF) scanning of geologic core samples has become a burgeoning big data in oil and gas industry, with the technique capable of generating high resolution datasets containing comprehensive major and trace element abundances present in the rock.
We will be using Scikit-learn, an open source machine learning library that supports supervised and unsupervised learning towards a variety of applications. Here we will be utilizing principal component analysis and k-means clustering algorithms to manipulate and segment the big data before visualization.
The process outlined in this blog post develops labeled datasets that can be tied to the core, ahead of the implementation of a neural network. Read the full post here.
Novi geoSHAP – estimating rock quality using SHAP values in machine learning models: URTeC 2020 Novi Paper Summary
Can a machine learning model learn where the play sweet spots are, just from raw well logs? The answer is YES. Using logs (or any input geo variables), plus a principal components analysis, gives the model everything it needs to learn what drives production.
This is the subject of our most requested URTeC 2020 paper — geoSHAP: A Novel Method of Deriving Rock Quality Index from Machine Learning Models and Principal Components Analysis. Click through to learn more!
Water, water everywhere: oil well water analysis with machine learning models to improve produced water forecasts in the Williston Basin: URTeC 2020 Novi Paper Summary
How often does an engineer dash off a simple produced water analysis, doing something like applying a flat WOR to their oil prediction? It’s easy to ignore water, but unexpectedly high production, leading to more produced water, can damage well economics. In the worst cases, it can force shut-in if disposal capacity is full.
Fortunately, advanced machine learning methods developed for oil can be applied to water. These technique help disentangle the complex interactions of completions, geology, and spacing.
This is the subject of our URTeC 2020 (and JPT-featured) paper. Read the summary here.
how does a 3 billion barrel discovery turn into a $3 billion impairment in oil and gas plays?
Why do operators stay in oil and gas plays long after it’s clear that they are uneconomic?
There’s a big difference between finding Big Tuna and getting it in the boat. You must understand uncertainty and feedback loops to make good decisions. Data-driven models offer one potential solution.
the power of analogy : using novi’s contributing oil well data to understand machine learning predictions
Whether exploring for oil offshore Brazil or scaling type curves in Lea County, engineers and geologists rely upon the power of analogy to estimate the productivity of a given area or engineering design choice. Tree-based machine learning models can quantify similarity based on what matters: how it contributes to production.
playing enough short game to get to the long game :: revisiting the Parsley-Jagged deal at $30 strip
When Parsley Energy announced their acquisition of Jagged Peak in October 2019, WTI was trading at $55/bbl. Though the all-stock nature of the transaction protected their downside, Parsley still faced the question: “how can we economically develop the Jagged Peak acreage?”
In this post, we study completions and spacing options to maximize acreage value. Click through to read our analysis.
the confidence game: optimizing completions for XEC DUC wells in the Delaware using model confidence as a proxy for risk
Optimizing DUC inventory is something that many operators unfortunately have to wrestle with after pauses in completions activity.
Machine learning models can help you design the right completions for each well — and Lead-in sentence then understand the risk and uncertainty to prioritize your capital allocation.
DUC, DUC, GOOSE: In a sub-$30 oil environment how can NBL maximize returns with less CAPEX spend in their Delaware asset?
In this post, we analyze Noble’s Delaware DUC inventory during the great coronavirus shut-in. How can smart operators optimize their activity to survive low prices?