The transformative promise of Big Data Analytics is to generate actionable insights from massive amounts of constantly evolving data, and to then leverage those insights to achieve positive, meaningful business and societal outcomes. Listen as Ayata’s SVP of Sales and Marketing, Daniel Mohan, discusses how Ayata is helping top-performing operators in unconventional plays frustrated by wide performance variations and unpredictable returns on invested capital, and concerned about competing in volatile or deflating price environments, create more efficient and effective recipes for drilling, completing, and producing wells.
Daniel MohanMaximizing Oil Production with Prescriptive Analytics
As oil prices drop and shale operators around the U.S. sweat, one statistic sticks out from the 2014 DUG Eagle Ford conference—the open admission on stage by one of the largest energy services companies that “60% of all fracture stages are ineffective.” The presenter continued by asserting that a “step change” in completions and productivity is needed to sustain the unconventional energy revolution.
Known-knowns, known-unknowns and unknown-unknowns—Donald Rumsfeld’s notable turn of phrase is an apt characterization of where we are with unconventional oil development today. Shale operators in the Eagle Ford, Permian, Bakken and other plays have transformed the U.S. into an energy superpower by profitably extracting oil and gas from tight rocks that weren’t commercially viable even a few years ago. With that backdrop, unconventional oil development today is punctuated by significant performance variations among operators with contiguous acreage positions and meager EUR rates. Unless performance keeps improving, any fluctuation in commodity prices can send shockwaves through the oil patches around the country, as we have seen happen with natural gas. How do we gain ground on the vexing “unknowns” to tilt the inherent risks involved in shale oil development in our favor?