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
Failure Detection Timelines for AI vs. Traditional
Failure detection timelines really help us drive home the point of how OspreyData’s Production Intelligence solutions can maximize your production even in the face of inevitable failures. In the graphic above, we demonstrate the difference between the traditional failure model
A Case Study: Early Event Detection of Tubing Failure
Yesterday, we looked at why data quality is important. It leads to early detection, which we will explore here with an ROI Case Study. Tubing Failure Early Event Detection of a tubing failure can help you regain $3M or more in your
3 Advantages To Expert-Guided Machine Learning
1. LABEL EVENTS QUICKLY Our artificial lift SMEs begin by marking events and conditions on your historical data for a small group of wells. Our models then generate labels that feed the machine learning process. We then expand this process to
What is Parametric Analysis?
Parametric analysis is a common exercise employed by production engineers in well modeling and decision making. The figure above displays a set of gas injection performance plots (Oil production rate vs. Gas injection rate) resulting from a parametric analysis of
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,