In 1997, Clayton Christensen coined the term “Disruptive Innovation” in his thoughtful book, The Innovator’s Dilemma. Since then, the term has been shortened to simply ‘disruption’ and it has taken on a life of its own across the technology and media complex.
Topics: Artificial Intelligence, Machine Learning, Disruption, Disruptive, Upstream, Oil and Gas, Industrial IoT, Silicon Valley, Technology Adoption, O&G, Innovative
Artificial lift optimization is one of the core activities Production Engineers and Techs are asked to perform on a daily basis. Rod lift is the most widely used artificial lift type, deployed on horizontal and vertical wells alike. Due to the widespread use of rod pumps, consistent best practices have been established over time. When those operational best practices are adhered to, meaningful increases in field profitability of even the lowest producing wells have followed.
Topics: Production Operations, Value Creation, Predictive Analytics, Artificial Intelligence, Machine Learning, Advanced Analytics, Optimization, Horizontal Wells, Pareto Principle, Automation, Production Engineering, Rod Pump, Artificial Lift
With data science and analytics permeating industrial, financial, and consumer technology sectors, oil and gas producers have begun to invest in and explore the potential for these tools to add value in upstream activities. To date, most E&Ps have experienced mixed success, with value coming mainly in the drilling & completions business units (1-4).
Topics: Production Operations, SCADA, Value Creation, Feature Engineering, Data Science, Predictive Analytics, Artificial Intelligence, Machine Learning