AI-Powered Optimization for Upstream Operations

The value of an unconventional asset is determined by the number of drilling locations, well spacing and stacking, and individual well performance. Machine learning and modern optimization algorithms can help maximize ROI by recommending well completion designs and optimal spacing. After identifying key production drivers, our intelligent design-of-experiments process recommends how to proceed and learn through fewer experiments. By learning faster and more efficiently, we can improve the economics of a larger set of wells.

Drilling and well completion costs vary over time. To accelerate the capture of current cost data, a machine learning-assisted mobile app can be developed to process field tickets and update current spending closer to real time. This updated cost data can then be incorporated into forecasting tools to help project expected spending through year-end.

Operators face increasing pressure to maintain capital spend within guidance. Machine learning systems can interrogate historic spend, scheduling and operations data to forecast expected expenditures. By providing accurate visualizations of expected and actual costs, planning teams have the flexibility to scale operations up or down in response to available capital, thereby avoiding shutting down operations too soon or not investing all available capital.

Our engineers perform anomaly detection using in-house trained predictive models to provide early warning alerts and diagnostic guidance to our customers. In complex upstream oil and gas operations, anomaly detection is critical for providing early warning of potential issues and helping prevent equipment damage, operational disruptions, and safety incidents. Here, we propose a novel approach using a multimodal neural network-based autoencoder. These detected anomalies generally tend to be more accurate and robust than anomalies detected by a single data source, as latent representations capture interdependencies between different parts of the system through multiple data sources.

BKO defines and designs enterprise cloud based solutions for advanced analytics applications. Real-time and financial data stored in your database can support operational and investment decision making at all levels.