Delivering Real Value with Data Analytics: Case Studies from the Energy Industry

Discussion of ‘analytics’ in Oil and Gas is often too obscure and high level leading to a lot of confusion in the market. The confusion is mainly caused by most firms approaching analytics differently and keeping their thought processes proprietary. Lessons learned and best practices are rarely documented or published. Therefore, it is extremely hard to decipher what techniques work and are actually being used. Technical staff looking to get into analytics then have no real understanding of what problems have been solved, what problems still need to be solved, and what skillsets to build.

This presentation seeks to lay out a reservoir engineering perspective on defining baseline ‘analytics’. Methodologies and solutions tilted toward unconventional exploration and development will be discussed. In addition, some tips for climbing the learning curve of analytics and machine learning will be discussed. Finally, the presentation seeks to discuss how analytics can drive business decisions and help improve the industry.

Bio:

Justin Hayes joined Bedrock Energy partners in October 2018 to lead all reserve analysis, subsurface evaluation, and development planning and optimization efforts. Prior to joining Bedrock Energy Partners, Mr. Hayes was with Anadarko Petroleum Corporation (APC) where he was managing Reservoir Engineering and Analytics efforts for APC’s Powder River Basin (PRB) asset. In the PRB, Mr. Hayes applied analytical and physics-based efforts for optimizing PRB’s appraisal and development planning. Prior to working on PRB Mr. Hayes was the Subject Matter Expert on Subsurface and Economic Evaluations for Unconventional Assets in APC’s Advanced Analytics and Emerging Technology (AAET) team. In AAET, Mr. Hayes was responsible for leading efforts to develop analytical and physics-based techniques and tools for deployment in asset development teams, acquisition and divestiture efforts, US onshore exploration, and company-wide portfolio optimization. Previously Mr. Hayes worked in various roles including US Onshore Development and Operations, and Deepwater GOM Development and Operations.

Mr. Hayes began his career with APC after graduating Cum Laude from Colorado School of Mines with a B.S. in Petroleum Engineering, where he was a Boettcher Scholar. Mr. Hayes also earned an MBA from the Jones Graduate School of Business at Rice University.

Please Note:

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