Dr. Troy Ruths, CEO and Founder of Petro.ai, rocked the SPE Permian Basin Data Analytics Symposium on April 25-26, 2022 as the closing Keynote Speaker, highlighting Petro.ai’s groundbreaking work in a presentation entitled, The Future of Data in Shale (abridged).
Bridging between the applications of data analytics and the oil and gas industry, Ruths expanded on the Petro.ai vision, “Petro.ai is focusing deeply on the challenges we have in shale and what we want data science to provide as solutions. Shale is full of data and what Petro.ai enables is a linking of subsurface data to surface trends, the production that’s coming out of the ground. One of the questions that we’ve addressed in collaboration with major and mid-size operators is, how do we build predictive models of what’s happening under the ground? To develop a highly accurate modeling strategy we’ve spent a lot of time connecting artificial intelligence (AI) with geomechanics. We found that the important goal of this process is to better understand the productivity drivers.
“Until now, shale has been successful in large part because of operators having teams of engineers, geologists and geophysicists owning and expanding their intuitive understanding of the reservoir.
When we think about taking the optimization of shale to the next level, we need to take that intuitive understanding and put it into a computational model that can be queried and turned into a strategy engine.
“I’m excited for what we’re doing at Petro.ai. And really, I’m just excited for the shale industry in general because this is the moment. The commodity prices are up. The world is hungry for hydrocarbons again. There’s a clear need for a new energy future. Shale is the next chapter. Shale is an exciting resource and we’re just at the beginning.
“Data science has been used effectively by oil and gas for a long time. Where Petro.ai fits in is enabling insights and operationalizing them for operators, bringing in this next level of sophistication that we’ve been attempting, and now with Petro.ai can achieve. Petro.ai has been running with rigs, has planned over 160 wells in the past six months. Petro.ai is real. It’s legit. A lot of data teams have been trying to build an analysis engine themselves, but this is the first data physics engine provided to the O&G industry by a vendor that’s ready for production and has been working side by side with clients building their success, real success from the Petro.ai engine.”