Are we for real?
Most industries talk about analytics and machine learning - it’s fashionable. Analytics has a very obvious attraction for our industry - how can more wells be managed effectively, with fewer experienced engineers?
If analytics can help understand and improve performance in sports such as stock car racing and football, or even diagnose when an elevator needs maintenance, all based on real-time data, how can analytics be used to improve our ability to produce oil wells using artificial lift (AL)?
This paper will highlight:
- Analytic advantages could help oil and gas companies improve production by 6% to 8% - we have seen this
- The technology exists to manage 100s of wells automatically using management by exception and high level dashboards
- Diagnosis engines exist to analyze every well test, optimize AL production and identify sub performing wells
- Spotlight which wells can give you more production
- Enable engineers to manage more wells in less time
- If the correct data is collected in a synchronous manner (generally it’s not), the tools exist to perform production optimization using analytic tools