Exploiting Data Analytics – What a Difference a Year Makes!

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I started writing this blog about a year ago under the working title “Big Data is Watching You – But why isn’t it working for you?” But lots of players had similar thoughts after viewing the infomercials and exhibits by the Data Analytics Service Providers at the Petroleum Conferences in 2H 2015!

At that time, the best canned O & G Data Analytics demos were focusing on supporting Corporate Services and New Ventures with improved techniques for “Bench-making” Performance Measures and in identifying Merger and Acquisition (M & A) Targets. But clearly, these tools had much broader potential to revolutionize Technology Transfer, Innovation and Operational Processes Control.

Data mining certainly offers a much more efficient way of looking at the vast data bases that our Industry and Government Agencies have accumulated over the last 25 years: a means of converting Data into Information in order to advance our Knowledge to better direct our Actions.

data

From: Transform Non-profit Data Into Action | Sidekick Solutions

It offers a new way to get ahead of the competition on that old race track, where the hurdles have recently been jacked-up, while rewards remain stubbornly modest and unpredictable.

men-jumping-hurdles

Purchased by TGS from Shutterstock: 086488

Then, low and behold, the October JPT dedicated 14 pages to a series of articles under the banner headline: “Oilfield Data Analytics Arrive”:

  • Devon Energy rise to the Top as a Data-Driven Producer.
  • Four Answers to the Question: “What can I learn from Analytics?”
  • Analytics Firms Explore Oil and Gas Market.
  • Accelerating the Uptake Cycle through Collaboration and Outsourcing.

In the November JPT, Janeen Judah, the 2017 SPE President, has a Risk and Reward headliner article entitled: “Big Data and the Next Big Thing” ……She concludes that ”Cognification,” based on learning software, “will revolutionize upstream, mid-stream and downstream operations.” Apparently, this new word was introduced by Kevin Kelly in a 2016 book about Artificial Intelligence entitled “The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future.” (Viking/Penguin Random House, ISBN: 978-0525-4280-84). (Thank goodness that the Holiday Season is in sight and we have spare time to read, absorb and plot how to adapt and exploit other peoples’ thinking in order to add value to the assets that we manage!)

Actually, what really blows my mind, as I have ranted about in earlier blogs, is that some people and companies have reacted to the current tough business environment by reducing their involvement in and/or support of our Technical Societies and Training Organizations. They are the very entities we need to Disseminate Knowledge on how to innovate ourselves out of this tight spot!

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Bob Pearson

Bob Pearson is an independent petroleum engineering consultant, working primarily in Canada and the Australia, Asia Pacific Region. He acts as an Advisor to RPS Energy on coal bed methane (CBM), Shale and Tight Gas, as well as on other conceptual engineering and evaluations for Unconventional Hydrocarbon Developments. Bob began his career in 1970 as a Production and Well Engineer with Shell International in Southeast Asia and the North Sea and later worked for Petro-Canada (now Suncor) in Western Canada and the Canadian Frontiers. In 1983, he began consulting with APA Petroleum Engineering Inc (now part of RPS Energy Canada Ltd). In 2007, Bob returned to Southeast Asia, first as the Operational Director of the RPS Energy consulting team in Singapore, and then for CBM/CSG services in Southeast Asia and Australia. In recent years, he has been heavily involved in sub-surface peer reviews and development plan audits for major Unconventional and Frontier Projects, on behalf of both Operators and Lenders. He has been a Distinguished lecturer for the SPE and facilitates several integrated development planning workshops every year for IHRDC. He is a registered professional engineer with APEGA in Alberta, Canada. He is on the Board of the Calgary Section of the SPE.

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