Predictive Analysis

What Can AI Bring To Oil and Gas Production

Artificial Intelligence in Oil and Gas has become a very popular topic. MIT’s Sloan School of Management’s article, “Reshaping Business with Artificial Intelligence,” recently found that that 85% of corporate executives surveyed believe that AI will help their businesses gain or sustain competitive advantages. What might that look like for
Predictive Analysis

Accurate Data Quality = Early Detection

When addressing wells, or cohorts of wells, eventually the question comes to mind. Why does the quality of the data matter? For production, if an organization is consistently using allocated production, actual production may vary by roughly 10%. At OspreyData, we have seen much higher rates when the allocated wells
Predictive Analysis, Production Optimization

The Impact of AI on Oil & Gas Organizations

The impact of Artificial Intelligence on an organization is an important topic when considering machine learning.  In a previous blog entitled, What Artificial Intelligence in Oil and Gas Brings to Production, we discussed a summary of key solutions that AI can target for problems facing most oil and gas organizations
Predictive Analysis

Quality Source Data is More Than Just Sensors

When we consider the good source data required to power machine learning,
we must consider the full life-cycle of the well. Most use-cases that OspreyData is building have moved beyond utilizing just a set of time-series sensor values. Well designs and completion reports provide insight to the physical aspects of the
Predictive Analysis

Successful Collaboration Leads to Success with EGML

A major challenge has been to foster cooperation between two groups with such different skills and backgrounds, O&G operation and data science. Failure of many projects is due to failure of collaboration of these groups to understand one another to achieve shared objectives. Data science often thinks models can be
Predictive Analysis

Benefits of Artificial Intelligence in Oil and Gas Production

Artificial Intelligence in Oil and Gas is becoming a very popular topic. MIT’s Sloan School of Management’s article, “Reshaping Business with Artificial Intelligence,” found that 85% of corporate executives surveyed believed that AI would help their businesses gain or sustain competitive advantages. What does that look like for oil and
Predictive Analysis

What Kind of Events Can AI Detect?

When it comes to event detection, a common question we receive is, what kind of events can AI detect?  We sub-categorize these events of interest into four different types: 1) High-Risk Events, 2) Sub-Optimal States, 3) Events Needing More Lead Time, and 4) Silent Killers. We will explain these event
Predictive Analysis

Data Continuity, Granularity, and Latency

Following up from our last post, we will take a close look at Continuity, Granularity, and Latency in this post. What are these aspects of data quality and why are they so important? Continuity – How much source data is available without gaps or lapses? Faulty sensors and communication failures
Predictive Analysis

6 Aspects of Data Quality that Align with Problems

When looking at controlling costs as an oil and gas operators, it is important to look at the data quality for what you are using to solve problems and to measure your ROI. Do you have complete enough data at a sufficient rate for analytical analysis? What makes quality data?