Dust off that old aphorism about an ounce of prevention. Oil companies applying analytics for predictive maintenance can see a substantial downtick in the unanticipated equipment repairs that quickly eat into an oil well’s profitability. Maintenance is far from a trivial concern in the oilfield. A pumping oil well is
Tag: oil
This month we take a fresh analytical view of our hypothetical VirtualOil portfolio by comparing the forward price of WTI (the green line) to the prompt month price (red line). The resulting graphic (chart 1) demonstrates the relative stability of the 48-month forward price in contrast to a very active spot
Oil is bouncing around the $50 range as the market adds and loses value with each new headline, from potential new Iranian exports after the nuclear talks to the slowest month of inventory builds at Cushing since Thanksgiving. The US rigcount is down nearly 23 percent year-over-year, but the rate
Perhaps I should have titled this post, "Riddle me this Batman..." Bam! Zap! etc.... now back to our regular scheduled blog post, where we explore the many lessons that can be learned from one industry to the next. Let's start with one of the easier comparisons: How is an
Are you uncomfortable with analytics? Do you know someone who is? One reason might be that they think of predictive analytics as magic rather than science or fact based. Good magic amazes people and so do good analytic based reports and decisions. Being able to predict what product or service