What Is Data Analytics?

Data analysis, or data analytics, is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains. – Wikipedia

Advanced Analytics 

Advanced Analytics has become a new competitive front in the Oil & Gas industry

  • Most majors and some independents have initiatives underway
  • Service companies and software suppliers are developing new offerings based on data integration, data visualization and algorithms
  • Papers and presentations about data analytic applications adding value are becoming common

Example Exploration and Production industry innovations

  • Exploration: Eliminate the 30+% wasted time geoscientists manipulating data
  • Production Operations: Tune artificial lift to increase production 5-10% from legacy fields
  • Major Capital Projects: Reduce time & capital commitment to first production by 30-50%
  • Asset Integrity: Digital asset management reduces costs 25% and increases production 8%
  • Drilling & Completion: Algorithms to increase wellbore effectiveness 10% over best crews
  • Business & Cost Management: Reduce breakeven cost 30-50% (North America Shale Operators).

Data Analytics at ConocoPhillips 

  • Data Analytics is revolutionizing the way work is done
  • ConocoPhillips’ experience to date demonstrates E&P value proposition is significant
  • Data Analytics enables:
    • Increased productivity from petrotechnical staff and other professionals
    • Improved, faster or real-time decisions through better analysis of data we already collect
    • Identification of opportunities not obvious from traditional E&P solving techniques
    • Integrating data across functional boundaries such as linking cost data to operational performance

Leveraging Data Analytics Globally, Realizing Local Improvements

Eagle Ford: Years of Running Room at Measured Pace

Data Analytics at Eagle Ford

Eagle Ford

Bakken: Optimizing Across Every Aspect of the Play

Bakken Charts

2017 Improvement Drivers

  • Continuing significant reductions in drilling time
  • Doubled completion size and reduced cluster spacing
  • Machine learning is informing complex technical decisions

Niobrara: Unlocking Value by Lowering Cost of Supply

Innovating to Lower Cost of Supply

  • Competitive position in a liquids-rich play
  • Recent improvements in drilling time and completion costs
  • Drilling multi-lateral pilot in 4Q 2017
  • Accelerating pad development with 2018 program

Examples of Impact of Data Analytics in Conventional Operations

Process adaptation from unconventionals to conventional E&P.

  • Improve Cost of Rentals: Analytics process to minimize equipment rental time
  • Improve sourcing of materials for preventive and corrective equipment maintenance
  • Improve well placement and reduce number of sidetracks by using data analytics to improve history matching
  • Understanding of Equipment Failure: Generators
  • Model compressors degradation