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Expanding Machine Learning Models for Better Production Forecasting in Emerging Shale Basins

Novi

As consolidators move to acquire acreage in core shale basins, smaller operators are looking for opportunities in underappreciated basins and fringe areas in core basins. Forecasting the Northwest Shelf of the Delaware Basin One of these new areas of interest is the Northwest Shelf of the Delaware Basin.

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Keep It Fresh, Keep It Relevant

Permian Basin Oil and Gas Magazine

Regardless if you are a safety professional, a worker out in the field, or an executive, I appreciate you taking a small part of your day or month to read whats going on in the field of safety. Conversely repetition can be our enemy, especially with experienced field personnel, office personnel, and with executives.

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Office Functions: There is a Better Way

Permian Basin Oil and Gas Magazine

Quietly, smartphone apps and the ability of accounting software to mine and analyze data from field monitoring systems have replaced paper forms, lost tickets and intermittent readings with smooth dataflow, real-time data, and real efficiencies. Nonetheless, it looks radically different than it did 10, even five years ago.

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Forecasting Pads with Spacing Variation: Standard vs Causal Models

Novi

In part 2 , we created a data-driven model using 11,176 wells from the Delaware Basin and features representing geology, completion intensity, spacing, and timing. We used the farther distances shown here to provide interwell spacing information to the model. Figure 3: Location of test pad in the Delaware Basin, Lea County.

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How to Build a Physically Sensible Model in a World of Biased Data: Double Machine Learning

Novi

In these cases, practitioners turn to a field called causal inference to estimate what an RCT would have revealed if it was possible to conduct one. In our case, our prior knowledge allows us to inform the model of intuitive directional relationships between parent-child and interwell spacing on horizontal well production.

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Upstream Midstream Downstream – What is the Difference?

Aresco

Assets: Upstream assets include oil and gas fields (land and mineral rights), drilling rigs, production platforms, and wells. Production increases in the Permian Basin, for example, are a challenge regarding the takeaway capacity of the existing pipeline infrastructure. This includes both onshore and offshore activities.

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AI in Oil and Gas – A Game-Changer for Efficiency and Profitability

Aresco

AI solutions can process real-time data from drilling operations, offering instant recommendations to field workers and reducing human error. Generative AI is also being utilized for knowledge management, enabling workers to access vital information instantly. Be sure to follow Aresco on LinkedIn !

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