OAG’s Insights Workflow™ platform increases the efficiency of well planning by streamlining data management and providing transparency and control over the analysis process, enabling users to align the data based on their specific objectives and choose the parameters for analysis accordingly. Transparency and control over the data that is being ingested for analysis and the machine learning algorithms used to evaluate it are some of the capabilities offered by OAG’s platform. “These are two concepts virtually the entire industry is aligned on,” adds Birdzell.
Birdzell elucidates a success story where OAG’s machine learning solution helped a large U.S. oil company scale its business. Applying advanced analytics, OAG found an attribute in the client’s data that related to the timing within the client’s workflow—from when the well is drilled to the time the oil is extracted from the ground. Using machine learning, OAG was able to predict the oil production, which helped the client extract more oil in a cost-effective manner by optimizing “soak time.” Apart from providing a purpose-built platform to help with well planning decisions, OAG also offers capital allocation and asset evaluation solutions.
OAG makes use of data science and advanced analytics to unlock hidden value in existing datasets
Birdzell accredits the continued success of OAG and their ability to maintain a competitive edge, to his employees. “The reason we are able to do what we do wholly centers on our staff’s technical skills, their work ethics, and their ability to work together so well.” Moving forward, OAG plans to continue investing in their self-service, automated AI and machine learning capabilities to optimize well design and leverage rock data. In addition, they are also looking to grow their solutions to address production surveillance and real-time economic analysis.