Categories
Finance & Economics Transfer

Tech and energy: A changing partnership

Photo by Anastasia Zhenina on Unsplash

Three factors are pressuring the oil and gas industry to make dramatic changes: enduring low oil prices, high operating costs, and the growing popularity of sustainable investing. With these mounting pressures, many operators are turning toward tech solutions. 

Oil and gas has been using enterprise software and data-based decision making for decades, but what’s new since 2010 are advances in the tech space, like data storage, processing, and machine learning.

Dr. Carolyn Seto, Director of Upstream Research at IHS Markit, told CNBC News, “They [energy companies] are realizing that they’re not IT companies. They’re not software developers…They are partnering with these [tech] companies to be able to gain access to these new technologies, as opposed to taking the development costs themselves of building out capabilities within their organization.”

The right technology can help operators streamline operations. In the “Frac to the Future; Oil’s Digital Rebirth” equity research piece from January 2020, Barclays estimates growth in O&G digital services leading to $150 billion in annual savings for oil producers. As part of the same research, Barclays highlights a select group of companies, including Petro.ai, that are creating the “digital well of the future.”

Over the past decade, during the rise of unconventional drilling, Petro.ai has been a pioneer in providing leading-edge solutions for the oil and gas industry. Our workflows have become trusted in every major North American basin, from the Permian to the Bakken and Duvernay. In fact, 1 out of 3 drilling rigs running in North America today is operated by a Petro.ai customer.

What makes us different? We’re not a big Silicon Valley company working with oil and gas companies. We’re a Texas company with roots in the oil and gas industry. We understand the business inside and out: from location to the cloud. Learn more.

Categories
Drilling & Completions Reservoir Engineering Transfer

The Impact of Well Orientation on Production in North American Shale Basins

Full house at the January 22nd Calgary Lunch and Learn presented by Kyle LaMotta, VP of Analytics at Petro.ai, on the impact of well orientation in the Montney and Duvernay plays

As North American shale reservoirs reach maturity, the need to optimize development plans has become more demanding and essential. There are many variables that are within our control as we design a well: lateral length, landing zone, completion design, and so on. In situ stress is clearly not something we can directly control, but we can optimize around using an under-appreciated mechanism: well orientation.

The vast scale of available data on monthly production and well orientation provides an opportunity for data science and machine learning to help optimize on this variable.

Our team at Petro.ai has done some clever work, investigating how well orientation with respect to the maximum horizontal stress can be an important variable in well design. This unique approach blends principles of geomechanics with data science techniques to uncover new insights in completions design.

We had the incredible opportunity to visit Calgary on January 22nd, during a thankfully mild week, for a lunch and learn about the effects of well orientation on production in the Montney and Duvernay. We greatly appreciated the warm welcome, fantastic turnout, and keen interest in our presentation by Petro.ai VP of Analytics Kyle LaMotta. He brought his passion and expertise to an awesome and insightful event! 

Because of the amazing response in Calgary, we wanted to bring this lunch and learn event to some upcoming cities. Coming soon to:

For more info on all our upcoming events, please join the Petro.ai community for updates.