Applied Statistical Modeling and Data Analytics for Reservoir Performance Analysis

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Disciplines: Data Science and Engineering Analytics | Reservoir

Course Description

There is a growing trend towards the use of statistical modeling and data analytics for analyzing the performance of petroleum reservoirs. The goal is to “mine the data” and develop data-driven insights to understand and optimize reservoir response. The process involves: (1) acquiring and managing data in large volumes, of different varieties, and at high velocities, and (2) using statistical techniques to discover hidden patterns of association and relationships in these large, complex, multivariate datasets. However, the subject remains a mystery to most petroleum engineers and geoscientists because of the statistics-heavy jargon and the use of complex algorithms.

This workshop will provide an introduction to statistical modeling and data analytics for reservoir performance analysis by focusing on: (a) easy-to-understand descriptions of the commonly-used concepts and techniques, and (b) case studies demonstrating the value-added proposition for these methods. A software demonstration session will present the application of open-source software for solving problems.

Topics:

• Terminology and basic concepts of statistical modeling and data analytics
• Exploratory data analysis and basic linear regression modeling (for building a baseline input-output model)
• Multivariate data reduction and clustering (for finding sub-groups of data that have similar attributes)
• Machine learning for regression and classification (for developing data-driven input-output models from production data as an alternative to physics-based models)
• Proxy construction using experimental design (for building fast statistical surrogate models of reservoir performance from simulator outputs for history matching and uncertainty analysis)

Learning Level

Introductory to Intermediate

Course Length

1 Day

Why Attend

As “big data” becomes more common place, it will be necessary to extract as much intelligence from our ever-expanding trove of dynamic data from petroleum reservoir to improve operational efficiencies and make better decisions. This course provides the background to understand and apply fundamental concepts of classical statistics, as well as emerging concepts from data analytics, in the analysis of reservoir performance related datasets. This will petroleum engineers/geoscientists to efficiently interact with data scientists and develop practical data-driven applications for their assets (without getting lost in the math).

Who Attends

This course is for designed for petroleum engineers, geoscientists, and managers interested in becoming smart users of statistical modeling and data analytics.

CEUs

0.8 CEUs (Continuing Education Units) will be awarded for this 1-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

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SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Instructor

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