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Predictive Analytics

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

December 14, 2020

Use of predictive analytics to understand well performance and production drivers across the bakken-three forks play

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. Understanding the impact and relative importance of the different geologic variables requires REGIONAL PERSPECTIVE. Only then do you have sufficient variation in the underlying properties to learn their effects. The […]

Filed Under: Predictive Analytics, Well Designs, Artificial Intelligence in Oil and Gas, Machine Learning in Oil and Gas Blog

The Changing Impact of Oil Well Design Completions Through Time: URTeC 2020 Novi Paper Summary

June 26, 2020

Average SHAP Value to forecast oilfield completions

“Upsizing well completions increase production 37.5%*!!!” Sure, but when? Where that asterisk lands will have a huge impact on the returns of oil well design completions. If it’s Peak Rate, that might shorten payback. If it’s EUR — now you might have a real valuable well. Oil and gas machine learning models can be trained […]

Filed Under: Predictive Analytics, Well Completions, Well Designs, Machine Learning in Oil and Gas Blog, Conference Presentations

Building Unbiased Benchmarks with Machine Learning Oil and Gas Modeling: URTeC 2020 Novi Paper Summary

June 15, 2020

90% of American drivers say they’re better than average, and 90% of Shale focused Operators have “peer-leading” breakevens, returns and well production forecasts. Suuuure they do! How do you cut through Investor Relations fluff to identify top-performing operators to learn from, or underperformers to acquire? We will use machine learning to build unbiased benchmarks for […]

Filed Under: Predictive Analytics, Machine Learning in Oil and Gas Blog, Conference Presentations

the power of analogy : using novi’s contributing oil well data to understand machine learning predictions

April 30, 2020

All Training Oil and Gas Well Production Data Tree

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. We use geologic and engineering similarities to group oil and gas wells, then we use an average of that group to […]

Filed Under: Predictive Analytics, Digital Oilfield Technology, Big Data Management, Machine Learning in Oil and Gas Blog

trust me, I’m an objective engineer: uncovering the inherent bias in oil and gas forecasts

April 29, 2020

SHAP values by formation for mapping oilfield forecasts

Capital allocation decisions made by Engineers that work at E&P companies are completely rational and unimpacted by their own experiences or personal exposure to the play. Oil well forecasting & completions design recommendations are objective, uncolored by cultural influence, and based on unbiased P50 estimates. If this is your belief, and it must be a […]

Filed Under: Automated Well Planning, Predictive Analytics, Machine Learning in Oil and Gas Blog

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NOVI ML IN OIL & GAS BLOG TOPICS

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Recent posts

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

December 16, 2020

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

December 14, 2020

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

November 17, 2020

Analyzing Vista’s Record-Setting Vaca Muerta Wells with Oil and Gas Machine Learning Models

August 26, 2020

Making sense of it all: extracting actionable core-data from pXRF using PCA and K-means cluster analysis

August 7, 2020

Novi geoSHAP – estimating rock quality using SHAP values in machine learning models: URTeC 2020 Novi Paper Summary

July 14, 2020

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

July 6, 2020

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