Data-Driven Analytics is becoming an important point of competitive differentiation in the upstream oil and gas industry. When it comes to production from Shale, companies are realizing that in “Data”, they possess a vast source of important facts and information. Since, in analysis and modeling of production from shale, our traditional techniques leave much to be desired, “Data”, reflecting the field measurements, can provide much needed insight. Data Driven Analytics is the set of tools and techniques that provides the means for extraction of patterns and trends in data and construction of predictive models that can assist in decision making and optimization.
In Advanced Data Driven Analytics, data from the well and the formation are integrated with field measurements that represent completion and hydraulic fracturing practices and are correlated with production from each well. As the number of wells in an asset increases, so does the accuracy and reliability of the Advanced Data Driven Analytics.
Attendees will become familiar with the fundamentals of data-driven analytics and the most popular techniques that are used to perform such tasks such as conventional statistics, artificial neural networks and fuzzy set theory.
This course will demonstrate through actual case studies (real field data from hundreds of shale wells) how to build data-driven predictive model and how to use them in order to perform analysis.
- How to treat data in the context of data-driven analytics
- Organize and prepare the data for predictive modeling
- How to make sure that the physics of fluid flow in shale is honored during the predictive analytics
- How to build predictive models using data as the main building block
- How to avoid over-training (memorization) while promoting generalization
1 or 2 Days
Application of data-driven analytics and predictive modeling in the oil and gas industry is fairly new. A handful of researchers and practitioners have concentrated their efforts on providing the next generation of tools that incorporates this technology, for the petroleum industry.
Data driven analytics have become an integrated part of many new technologies used by everyone on their day-to-day lives such as smart automatic-transmission in many cars, detecting explosives in the airport security systems, providing smooth rides in subway systems and preventing fraud in use of credit cards. They are extensively used in the financial market to predict chaotic stock market behavior, or optimize financial portfolios.
A large amount of data is routinely collected during the production operations in shale assets. The collected data can be utilized to gain a competitive advantage in optimizing production and increasing recovery.
Who Should Attend
This course is intended for completion engineers, production engineers and managers, reservoir engineers, geoscientists, asset managers, and team leaders.
0.8 or 1.6 CEUs (Continuing Education Units) will be awarded for this 1-day course.
Shahab D. Mohaghegh is the president and CEO of Intelligent Solutions, Inc. (ISI) the pioneers of data driven analytics in the upstream E&P industry. He is also professor of petroleum and natural gas engineering at West Virginia University. With more than 22 years of experience in the application of Artificial Intelligence & Data Mining in petroleum engineering, he has developed innovative workflows and technology that incorporates hybrid forms of neural networks, genetic algorithms and fuzzy logic in solving problems and building predictive models related to smart wells, smart completions, and smart fields as well as to drilling, completion, well stimulation, surface facility optimization, formation evaluation, seismic inversion, reservoir characterization, reservoir simulation, and reservoir management.
He has authored more than 180 technical papers. He was a SPE Distinguished Lecturer (2007-2008) and has been featured in the Distinguished Author Series of SPE’s Journal of Petroleum Technology (JPT) four times. He was the former chair of the SPE Global Training Committee and currently chairs SPE Book committee.
He has been honored by the U.S. Secretary of Energy for his technical contribution in the aftermath of the Deepwater Horizon (Macondo) incident in the Gulf of Mexico and was a member of U.S. Secretary of Energy’s Technical Advisory Committee on Unconventional Resources. Mohaghegh represents the Unites States in the International Organization for Standardization (ISO) for CO2 capture and storage.
Mohaghegh holds BS, MS and PhD degrees in petroleum and natural gas engineering.