Mike Pennell, Venkat Putcha and Jeff Hsiung of OspreyData’s Data Science team
OspreyData’s Data Science team presents at Society of Petroleum Engineers Western Regional Meeting
Mike Pennell, Jeff Hsiung and Venkat Putcha of OspreyData’s Data Science team presented at the SPE Western Regional Meeting, one of the Oil & Gas industry’s leading events, on April 25, 2018. The team presented a poster on OspreyData’s novel Human Augmented machine learning methodology and fielded questions by interested engineers & experts in the Oil & Gas industry. The audience showed a high interest in OspreyData’s applied neural networks, random forests and other machine learning models for detection of failures and suboptimal states in rod pumps. Jeff Hsiung’s presentation about using Convolutional Neural Networks for Dynacard description, an implementation very similar to image recognition used by smartphones and ID scanners, sparked more interest in conversations.
Their accompanying paper “Detecting Failures and Optimizing Performance in Artificial Lift Using Machine Learning Models” dives into the work they’ve done in diagnosing and predicting Artificial Lift problems using machine learning. This scope covers common tubing and pump failures along with sub-optimal performance of sucker rod pumps and and gas injection units.
These achievements are just the beginning of the valuable work in machine learning based failure prediction they are contributing to the field.
Read the full paper here: OnePetro.org
Venkat Putcha and Jeff Hsuing answer questions with attendees
Mike Pennell chats with audience members about OspreyData’s Human Augmented machine learning methodology
Venkat Putcha chats with conference attendees
OspreyData Raises $5 Million in Series A Financing led by Houston Ventures
Leading Energy VC firm Houston Ventures and others invest in OspreyData’s
Expert-Augmented Data Analytics platform for Oil and Gas
OspreyData announced a $5 million Series A growth financing led by Houston Ventures with participation from existing shareholders. “This investment will help support our technology leadership position and the further adoption of our unique Expert-Augmented Machine Learning methodology and platform. We will continue to grow the sales and services teams to meet the needs of our global Oil & Gas customers,” commented OspreyData CEO John Burke.
Fred Lummis, Junior Partner at Houston Ventures, said OspreyData was a perfect
fit for their fourth fund that targets inefficiencies in Oil & Gas operations. He
states, “OspreyData’s hardware-agnostic analytics platform has the ability to
deliver massive ROI by leveraging existing production asset data streams to
transition operators to an active monitoring program that reduces asset
downtime and optimizes well performance. The enthusiastic response from early
customers signals a positive shift in the industry’s willingness to adopt Machine
Learning-powered analytics solutions that augment the performance of their
human and machine assets.”
OspreyData’s core value proposition is maximizing uptime of critical Artificial Lift
assets by bringing engineers and operators early detection of key problem states.
OspreyData has leveraged the knowledge of leading Oil & Gas industry experts,
positioning them alongside Data Scientists to create powerful models capable of
predicting problem states with real-time data. OspreyData works with clients in
stages, helping them evolve into data-driven producers without requiring
proprietary hardware or exorbitant capex investments.
OspreyData hires Chief Revenue Officer Jeremy Bingham & Vice President of Services Barrett Cousins
Their roles will expand OspreyData’s growth and value significantly by serving customers and targeting sales out of Houston, Texas.
OspreyData is pleased to announce and welcome Jeremy Bingham as Chief Revenue Officer and Barrett Cousins as Vice President of Services to their growing team.
Jeremy is a well-known figure in Oil & Gas with over 15 years of experience. He
joins OspreyData from Capgemini where he served as Operational Technology
Practice Leader, focused on delivering value where IT and OT meet. He also
served as Executive Vice President of Sales and Field Operations at WellAware,
focusing on real-time data solutions and optimization analytics for the Upstream
and Midstream sectors. Before that, Jeremy spent the previous five years leading
the sales team of CygNet Software to the North America market leader in
onshore SCADA installations and ultimately Weatherford’s Production
Optimization business unit post acquisition with over 500,000 wells in the
portfolio. At OspreyData, he will focus on all aspects of the customer experience
from new client acquisition through implementation and ongoing support by
matching its machine-learning platform with companies ready to evolve into
Barrett is equally well-known in the industry with over 15 years of experience. He
most recently served as an Energy Solutions Consultant at Capgemini, helping
customers leverage their data-collection investments with the proper analytic
tools. He also has prior experience at WellAware, serving as Product Manager for
their software products. At CygNet he initially was in the services group
architecting and leading project delivery in upstream, mid-stream and
downstream. The last five years at CygNet were spent leading the Product
Advisor team, the technical side of the sales team, selling both CygNet and
Weatherford’s suit of production optimization tools. As VP of Services he will act
as a liaison between OspreyData’s clients and the Science and Platform teams,
ensuring that OspreyData is delivering the most value for clients.