The cave formations in China's southwest Guangxi Zhuang region almost look like a different world. Centuries of dissolving limestone rock, a geological process known as karst, have resulted in expansive caverns, with stone towers and massive sinkholes. This region of China is home to the world's largest concentration of these karst formations, the largest cluster of sinkholes, and the world's most enormous cavern. The relatively pristine condition of these caves also means it's been a trove for scientific discovery. During their most recent expedition exploring the caves, Chinese and French cavers spotted an extremely rare fish called a Sinocyclocheilus grahami, or golden-line barbel.
After several years of research on machine learning algorithms running on oil and gas production data, Solution Seeker has developed a hierarchical neural network model that improves the predictive power for real-time production optimization. The model leverages the power of neural network learning algorithms combined with domain knowledge in the form of first principle physics and production system logic. Hart Energy spoke with Vidar Gunnerud, CEO of Solution Seeker, about the company's technology and the importance of artificial intelligence (AI) to the oil and gas sector. How important is AI to the oil and gas industry? Gunnerud: I think AI is the future.
Shell U.K. Exploration and Production (Aberdeen, U.K.) has implemented an advanced forecasting system for predicting oil field production. The expert system helped Shell achieve over $1.6 million in cost savings for its Brent Field site within 2 months of implementation. The National Research Council has awarded Nestor (Providence, R.I.) a grant to develop a neural network-based video sensor system, crossingguard Arvin Industries (Columbus, Ind.) is working with the U.S. Air Force to develop a neural network system that can determine the quality of noise in such vehicles as automobiles and aircraft. The neural network will help determine what exactly an annoying sound is and how it can be fixed. Using virtual reality hardware and software, Parke-Davis (Morris Plains, N.J.) has been able to improve the molecular modeling research techniques it uses to develop new pharmaceutical products.
Many years ago, during my first assignment at (super) major oil company, I was in charge of significant decisions for wells drilled in an onshore gas field. Each of these wells were drilled quickly, on average taking 5–7 days. The geology was well known, the reservoirs were, generally speaking, economic and the operational risks from drilling were rather low and manageable. Despite the apparent homogeneity (nothing in geology is truly homogeneous) of the regional geology of this field, operations geologists (such as myself), had to do some very manual work. As we approached the reservoir section for each well, I was required to confirm we were approaching the reservoir based on data obtained while drilling.
Using historical data from compressors with maintenance problems, the software pinpointed patterns and put online a system to inform the operator when there would be problems, Beck said. The technology has been used by a large oil and gas company to gain insight about the drillbit downhole. That's where column analytics--software tools that meld predictive models with collected data--come into play. Looking at the investor presentation slide decks of some of industry's large independents and integrated oil companies, Beck said companies are talking about how they are using data analytics to improve efficiency in the oil field, including in the Permian Basin.
Roughly 163,000 oil jobs were lost nationally from the 2014 peak, or about 30 percent of the total, while oil prices plummeted, at one point by as much as 70 percent. The job losses just in Texas, the most productive oil-producing state, totaled 98,000. Several thousand workers have come back to work in recent months as the price of oil has begun to rise again, but energy experts say that between a third and a half of the workers who lost their jobs are not returning. Many have migrated to construction or even jobs in renewable energy, like wind power. "People have left the industry, and they are not coming back," said Michael Dynan, vice president for portfolio and strategic development at Schramm, a Pennsylvania manufacturer of drilling rigs.
Oil and gas exploration can get a boost from the efficient deployment of the artificially intelligent computer system, IBM Watson, a renowned data scientist has said. "Petroleum geology can be accelerated by training IBM Watson on historic data. Nearly every process currently driven by human expertise can be accelerated by its cognitive computing technology," Romeo Kienzler told Gulf Times in an exclusive interview. When asked how the cognitive technology that can think like a human can be used effectively in oil exploration in Qatar and the wider region instead of the conventional methods, IBM Watson's chief data scientist explained the system "can have a look at such vast amounts of structured and unstructured data in seconds which a human brain cannot process in an entire life time." In Qatar to take part in a recent event by Hamad Bin Khalifa University's Qatar Computer Research Institute, Kienzler pointed out that "whenever human expertise is involved in a process, the addition of a cognitive system as an adviser most likely will accelerate the process because information loss is prevented."
Anthem -- In that same report from Jefferies, Anthem was downgraded to "hold" from "buy." Kate Spade -- The fashion accessories maker was upgraded to "outperform" from "market perform" at Wells Fargo, which thinks recent stock weakness has created an attractive entry point and that it sees a pickup in coming quarters. Boeing -- Boeing increased its long-term sales outlook for the China market to 1.025 trillion over the next 20 years, with estimated aircraft purchases of 6,810. NRG Energy -- NRG won a bankruptcy auction for SunEdison's wind and solar projects in Texas and other states.
It's a SaaS-based, big data management platform for advertisers and ad agencies, which uses machine learning and artificial intelligence to make it easier to upload data, and to categorize it. This lastest funding brings Datorama's total raised to 50 million. The company's Marketing Integration Engine uses artificial intelligence to automate the process by which marketers connect all of their online and offline data sources from advertising, marketing, sales and CRM technologies. It also provides TotalConnect, a data integration capability, allowing its customer to create API-like connections with any data source containing marketing, sales, service, commerce, or financial data; and API Connector Library, which provides an extensive selection of pre-built data connectors to integrate your data from popular marketing applications, databases and Big Data platforms.
For the film IBM partnered with oil and gas company Woodside, and creative agency the Barbarian Group, to create '70 Miles from Shore with Watson: Woodside Energy and IBM'. About Production Service Network (PSN) Production Service Network is the one-stop shop for full local shoot support worldwide. IBM Watson: Pioneering a New Era of Computing Watson is the first commercially available cognitive computing capability representing a new era in computing. IBM continues to build on its strengths in cognitive computing, analytics, security and cloud with IBM Watson Health and the Watson Health Cloud platform.