One of the more recent technological advances to gain traction in Oil and Gas is the application of Machine Learning processes to solve geoscience problems, such as those related to trap and reservoir identification in salt basins. With ever-increasing data processing capacity and decreasing processing costs, it's only natural for oil and gas companies to adopt increasingly efficient ML applications, pushing them to the limits of what they can do. ML is here to stay from that point of view, and investment in developing and refining ML technology will only grow with time.
U3 Explore is now one year old, and here are the highlights of our first year. U3 stands for Unlocked, Untold, Unfiltered stories of people with exploratory mindsets. These people have analytical and determined personalities. They like to collect information and figure out the meaning of their observations. They are proactive in preserving and communicating years of institutional knowledge in the integrated project delivery.
Many ascribe the recent successes of Machine Learning to an increase in available compute power; it is however also a result of 25+ years of intensive scientific research and experiences gleaned from the investment of time and money into understanding and correctly describing geoscience problems associated with petroleum systems that contribute wisdom to the outputs of a machine learning process. We have compiled a list of the top 10 geoscience concepts that machine learning -for all its strengths and benefits - is currently incapable of understanding.
An updated analysis of Conomita Fold outcrop (Barranquin Fm.) was performed using an image of a field-trip guide-book organized by PDVSA in 1993: Excursion al Frente de Montaña, Venezuela Oriental (Stop # 5). “Remote” structural analysis carried-out along this outcrop reveals the existence of several deformation episodes related to gravity-driven processes. Conomita fold appears to be a slump feature generated in a deltaic setting. Early Cretaceous rocks were strongly tilted during the Miocene-Recent tectonics phase contemporaneously to El Pilar right-lateral strike-slip fault.
Remote Sensing Satellites are great because of its availability, cost-effectiveness, and easy to program tasks. On the other hand, in most countries, you have to go through a lengthy process to be able to take an aerial photograph (digital or analog) if you use an aircraft. This is one of the many advantages to use satellites instead of aircraft and also It is more practical from the project standpoint. But sometimes you need high-resolution imagery to perform engineering or cadastral grade work. Would it be neat to be able to do it with satellite imagery instead?
2020 is coming to an end, and it is time to reflect on it and plan for 2021. Virtual experiences have touched us all. Many of you were forced to adapt rapidly without prior experiences in virtual meetings and virtual business administration. The U3 Explore community had many private conversations on virtual business with our technology partners and found the advice we provide for each other very valuable. We want to extend the knowledge of the subject, share our experiences, and answer any questions on the best practices of the orchestration of the virtual office's business activities.
The best new techniques that are appearing in geoscience toolkits today make use of Machine Learning and AI technologies to analyze massive quantities of seismic data with understood geological codependences. Coincident with the rapid acceptance and deployment of these tools by major E&P companies must however come a pivot in the way that we as geoscientists approach interpretation. In this paper we focus on the new balance between human and machine roles in the interpretation of 3D seismic data.
What do the two sciences need to know about each other to deliver practical results? On the image above is a wavelet displayed to scale next to a wave-shaped building. Appreciation of scale is one of the skills critical in oil and gas AI projects. On the other side, to be a successful petroleum geoscientist in the post-COVID requires a set of very specific new skills in addition to the understanding of geologic concepts. These new skills are not normally associated with geoscience but are fast becoming critical for geoscientists to operate in an E&P environment.
It is overall our view that creaming curve analysis is most valuable when it discriminates between the plays and playtests, when it may indeed identify missed opportunities or even new plays when combined with as thorough an understanding of the history of the basin as possible. "Lumping" the statistics together appears not to serve this purpose, at least in predictive mode, when trying to build a new portfolio and incorporate the potential value of speculative or conceptual plays.
Basin and play exploration are inherently governed by the management of risk and uncertainty at the portfolio level. Exploration investment decisions biased by risk-averse teams are susceptible to first-order basin statistics which may reflect a historical “poor” exploration history and exhaustion of existing play concepts. New concepts, new models, new thinking, and consideration of alternatives often result in a paradigm shift despite previous negative results.
The purpose of the survey is to collect information across different companies and geographies and help the industry in recovery after the crisis. There are many publications about how lost we became and the recognition that people want to return to a "new normal." There is an understanding that this "new normal" should reflect not only our new hygiene practices but also help us to reconnect with our lives, families, and friends, make our work more meaningful, and help us to focus on things that are important in our lives.
Technical expertise and business acumen have differentiated sustainable performance among E&P competitors. 2020 First Quarter earnings results evidence the pressures that face the future direction of the global E&P industry. Capital discipline strategies have reshaped the forward outlook of companies and for industry professionals uncertainty will be foremost in their thoughts. What will emerge from this period?
The success of oil and gas production from shale plays in the U.S in the last decade has also drawn attention to the most prolific source rock of the Neuquen Basin in Argentina, which is called Vaca Muerta Formation. Today, with approximately 110 MBls/d of oil and 1 Bcf of gas production from 1400 wells, it represents 5% and 23% of the total production of oil and gas of Argentina respectively.
This analysis uses the data collected over March 25th- April 5th. By the digital nature of our survey, the responses are biased towards technically enabled companies and individuals that were set up for occasional remote work. We analyze 1- the overall level of the system preparedness for such an extraordinary situation when the majority of the workforce is working from home, where the entire family is streaming homeworks, videos, and videoconferencing; 2- social aspects of the remote working; 3- feedback on the support provided for remote workers and ideas on post-crisis recovery
Located in southwestern Argentina, it covers around 15000 Km2, with more than 10.000 ft. thickness in the depocenters. The basin has more than 100 years of exploration history started with the exploitation of 10 barrels a day from 4 wells in “Arroyo de La Mina” oil seepage. This report summarizes the new exploration ideas, based on geochemical data and outcrops description that allows the existence of a hypothetical new petroleum system. This idea generates high exploration potential in undrilled deep sections of big structures.
This report contains an exploration review of Colorado Basin, located in southeastern Argentina, it has onshore and most extensive offshore sections with more than 125000 Km2 of total extension. The basin has more than 70 years of exploration history, with a few wells drilled, one of them recovered 39º API Oil from Early Cretaceous Syn-rift sandstone. Three main plays were identified, with high exploration potential: Rift Margin Play, Continental Slope Play, and Thrust belt play.