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.
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.
DIGITAL OILFIELD TECHNOLOGY OVERVIEW : Let’s face it, the last two to three weeks have been a complete train smash for shale operators and investors. We are price takers at the end of the day, so we as an industry are all trying to do what we always do – pick ourselves up by the bootstraps and find a way forward. I have some ideas utilizing digital oilfield applications that we can use as a foundation to stand on.
In this post, I’m going to discuss where things are at, Level set on what response vectors the shale industry has taken thus far and much more. Read the full report here.
