Improving Unconventional Asset Evaluation by Automating Data Analytics
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Apr 21, 2021 Datagration™

Improving Unconventional Asset Evaluation by Automating Data Analytics

When developing a sound asset optimization program, engineers must study past completion and development practices to understand the impact on well performance. A key component of this process is the efficient use of key data—which must be acquired, integrated, checked for quality, analyzed and routinely updated. Using the PetroVisor platform, critical user defined data can be quickly and seamlessly integrated from a variety of sources including commercially available public databases and proprietary customer data. Automating data analytics provides operators with real time views and dashboards that are constantly refreshed to provide timely and actionable information for an asset team without relying on tedious, manual data manipulation. A key feature of PetroVisor is the ability to integrate best in class third party data and applications, and customize the workflow to create your unique competitive advantage.

Once data is in the PetroVisor environment, it is available for advanced analysis using physics-based models, constrained Voronoi polygons, multi-variate regression and machine learning algorithms. Economics information about the well or field can be delivered to the operator or investment group as part of an unconventional asset optimization workflow.

The PetroVisor data analytics workflow incorporates geology and engineering to enhance an engineer’s understanding of how rock quality and completion designs interplay and affect well performance. The automated nature of this workflow allows the user to analyze an entire play or easily evaluate specific areas or individual wells. Using the workflow becomes an educational process that helps an engineer determine how past completion practices, geological variances or well location in the field affect production.

The data analytics workflow is commonly used as a high- grading tool enabling manpower-intensive technical efforts to be focused on high value areas or ones with complex technical uncertainties. A variety of interactive maps and dashboards allows the technical staff and management to visualize and convey why they are focusing on a specific area of interest. For example, a dashboard can be created to geographically show where the best drilling opportunities exist including parameters such as nearby well quality (rock quality and completion technology) and drilling inventory (the number of drilling locations). The PetroVisor workflow provides this visualization capability with speed and ease to advance rapid decision making.

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Published by Datagration™ April 21, 2021