You need to know: Why did one well perform better than another?
So, you will ask: What’s the differentiator in the performance?
Petro.ai is the only software on the market today that incorporates geomechanics into the features that are calculated to answer those hard questions.
“We’re the only one, and this is why open input control is so important,” explains Troy Ruths, CEO of Petro.ai, adding ardently, “Open input control lets you improve those features with your own characterization and your own inputs. The machine is good at taking well stats and telling you what’s different but it’s not good at making well stats choices. At Petro.ai we’ve united both of those together.”
There’s more data out there than anyone can organize. You need to go through, curate your data and make it ready for analysis. That’s what well stats and open input control is all about. A well is highly complex with hundreds of context inputs, from earth to geo to time series.
The point of well stats is to roll all that data into one row per well with lots of different features and columns. All that information is used to point to the differentiator in the well’s performance.
"Usually, you’ll have a program that helps you use well stats to visualize that multivariate data or build a machine learning model on it but it’s really hard to edit and really hard to see all the context. Petro.ai gives you the views of those different contexts so you can go in and examine it and understand," Ruths adds.
"You can also go in and change the EURs, the well spacing calculations, and that gives you and your team a lot of control for making that view. Kyle [VP of Analytics at Petro.ai] and I have worked on tons of projects that get hung up because they don’t have that.”
All that information is used to point to the differentiator in the well’s performance.
LaMotta explains, “The big business value is that people end up making one view of the world with their well stats and it may not even be right. Marrying well stats with that open input control is a huge differentiator for us. It’s also the big kluge in people’s workflows. In other places you have to get all these open inputs from different software. That makes it hard to collaborate on. You can’t get the source for why they picked that EUR. You can’t dig into it. Imagine being Sherlock Holmes without a magnifying glass. You can’t investigate it. You can’t look at all the evidence. You’re left with whatever someone gave you.”
Because of the vast number of wells drilled, shale provides a perfect opportunity to develop a rich data model. Petro.ai is a living product constantly incorporating new data types into the well stat profile.
Check out how to download the well stats into what Ruths calls “the most complete, best CSV you’ve ever seen in your life.”