Oil and Gas Exploration

Oil and Gas Overview

Typically, oil and gas companies rely on a simple and straightforward formula that consists of a small dataset. Generally this formula can only incorporate a few variables to predict the productivity of each prospective oil well. This approach, while effective, can be refined and improved via Corrective AI. For instance, adding machine learning predictions to this formula can save companies millions by providing more accurate predictions of a given oil well’s productivity. 

Oil and Gas Use Cases

Predicting Oil Deposits

Using machine learning to discover non-linear relationships between oil well sensors and future oil well production.

Predicting Drilling Equipment Failure

Machine learning can learn from past sensor data and previous manufacturing failures to predict probability of failure in real time.

Process Optimization

Our solutions can refine operations such as asset optimization of refining processes, multi-lateral well optimization, and leakage detection.

Our Solution

To take advantage of all the possible factors available to assist Oil and gas companies with their predictions, we can offer a set of pre-engineered input features that incorporates hundreds of thousands of variables. This increased data set will enable far more accurate predictions of oil well productivity.

How to Get Started

1. Collaboration and NDA

First, both parties tentatively agree on a proposed collaboration and sign a Mutual NDA

2. Proof of Concept Proposal

Next, a 3-month Proof of Concept project is negotiated and initiated, with objectives outlined in a non-binding Letter of Intent.

3. Proof of Concept Completed

Afterwards, PredictNow.ai researchers conduct a proof of concept project where they work to prove the effectiveness of the project.

4. Contract

Lastly, PredictNow.ai and the client sign a contract for a minimum of one year duration.

Want to Learn more?

Get in Touch

To inquire about starting a Proof of Concept with PredictNow.ai or if you have any questions, please fill out the contact form below and we’ll get back to you as soon as possible.

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