Geos: Develop the characterization of the reservoir volume and an estimate of the depletion due to fracking
Reservoir Engineers: Take the information from the Geos and turn that into type curves with some possible completion designs
Completion Engineers: Pass their optimized completion parameters to the Reservoir Engineers
Finance: Provides the LOE model and the CAPEX spend for the well
The Petro.ai Pad Designer takes all the input models created by your Geos, your Reservoir Engineers, your Completion Engineers, and your Finance people, combines them into one calculator, one shale productivity calculator and creates a full inventory maximization plan complete with drainage, type curves and an economics productivity prediction. And all of that with a 95% accuracy rate.
“So, an interesting story,” Dr. Troy Ruths, CEO of Petro.ai begins, “We were going through our initial onboarding with a client. We asked them, what is your current process for creating your plan to maximize your remaining inventory? They explained that the reservoir engineer would sit down with a bunch of type curves and finance would sit down with a bunch of LOE statements and they would hammer out an agreement on how to maximize.
“That is the perfect physical metaphor of what the machine, what Petro.ai, does for you. Finance needs to sit down on one side of the table. Reservoir sits down on the other side, and they negotiate.
‘Well, we need to reach these kinds of financial metrics.’
‘Well, we can’t put more wells in because they’ll degrade the reservoir, and you won’t get out the kind of production you want.’
“Every single time one tries to make a change the other comes back with a counter. Maximizing your remaining inventory is that meeting where everyone sits down to discuss all the different tradeoffs. That’s the heart of the Petro.ai software. And frequently, Geos are left out of the conversation. We’re bringing Geos to the table as well.
We’re bringing all the parts of the team, of the models to the table, in Pad Designer, working as a shale productivity calculator, and running those tradeoffs very fast.”
“Petro.ai is that analogy of the software having these competing forcing functions that are driving towards a better solution,” Dr. Brendon Hall, VP of Data Science, adds. “The evolutionary algorithms and the adversarial models are actually at the center of our Pad Designer and frac fingerprinting approach.”
“And that AI is fueling the Pad Designer proprietary technology which has been trained on a variety of inputs,” Ruths continues, “The multivariate modeling can be further tuned inside the software.
“The future state with the Pad Designer tool is, instead of having these models walk down the hall, passed in a power point or an excel spreadsheet, these models are the actual inputs to our Pad Designer which can be seen as a shale productivity calculator. And the shale productivity calculator synthesizes those models using very reasonable calculation rules. And those calculation rules let you input the models that these groups are already developing.
“So, the geos are already calculating maps, that’s something that the calculator can take in. Completion teams are experimenting with different stage designs, that’s something you can use as an input. And frac simulation, we can take that as an input. Reservoir Engineers are building type curves and multivariate analysis, that’s part of the inputs too. Finance needs to investigate different cost models with different returns. That’s in there, too.
“The decision team have all their models passed in. The calculator synthesizes those models in a way so that you can drag the points around and it will recompute your drainage, production and economics. You can also generate type curves from it.
“You’ll understand what you’re draining. But you can also easily tweak your options. Built into that Pad Designer calculator are knobs that let you change your spacing, your sequencing, your landing target, your completion design, and your productivity model to look at economic sensitivities. You can move those wells and try and move and try again. There’s no limit to the exploration of tradeoffs.”
Real solutions are more complex than sitting on opposite sides of the table trying to keep all the variables and limitations in perspective. And the tradeoff solutions need to be consistently accurate, more than cobbled-together workflows with different dependencies and data can offer. Your team’s powers combined will summon Earth’s only AI solution in unconventionals, Petro.ai. The power is yours.