Tag: oil and gas

Analytics | Data Management | Data Visualization
Ian Jones 0
No data scientist? No analytics platform? No problem.

“Analytics” and “data scientist” aren’t new terms, but they are trending buzzwords. The popularity of these concepts has created a false impression: Analytics are mysterious abstractions that can only be decoded if you have a white lab coat and an advanced degree in computer science. The reality couldn’t be more different.

Risk Management
Ian Jones 0
All quiet on the Barnett Front

The Barnett Shale in North Texas hit a historic mark on April 25: Its rig count fell to zero. Two hundred rigs once harvested the 40 trillion cubic feet of natural gas in this massive basin, stretching beneath 17 Texas counties. Today, nothing. This dramatic silence in North America’s second-largest

Data Visualization
Ian Jones 0
Time for VirtualOil 2.0?

Since our last VirtualOil update in May, oil prices have continued to take a beating. As the chart of the rolling five-year portfolio shows, much of our strip of options is now out-of-the-money and the average value per barrel of that optionality has sunk below $7. No surprise then that

David Pope 0
What do crime shows and data science have in common?

I enjoy watching TV crime series like Law and Order, Crime Series Investigation (CSI), CriminalMinds, Numb3rs, Person of Interest, as well as real-life mystery stories on shows like 20/20 and others. Obviously, the popularity of these types of shows means I'm not the only one who enjoys this type of entertainment. Here at SAS,

Analytics
Carl Farrell 0
Energized about energy

I’ve been told I have rocks for brains before, but right now I have rocks on the brain – the kind that are millions of years old and contain precious stores of oil and gas. One reason I have petroleum on my mind is that I’ve just returned from Brazil, where

Data Management
Alyssa Farrell 0
A must-read for petroleum professionals

Oil companies are being forced to explore in geologically complex and remote areas to exploit more unconventional hydrocarbon deposits.  New engineering technology has pushed the envelope of previous upstream experience.  No guidebook existed on how computing methodologies can contribute to E&P performance at reduced risk.  Until now. A new book

David Pope 0
Why analytics is better than simple if-then business rules

What's the differences between predictive analytics and basic reporting? Predictive analytics provides insight about what will happen in the future. Basic reporting only looks at past performance. Why is this difference difficult to grasp? It's partly because transitioning to predictive analytics requires change. And most people don't embrace change. Take

Data Management
David Pope 0
The magic of ESP for the oil and gas industry

Acronyms are funny things. Need an example? Try decoding this sentence: How is event stream processing (ESP), applied to electrical submersible pumps (ESP) in the oil and gas industry, like extrasensory perception (ESP)? Even if you had extrasensory perception you would still need some clarification if that sentence contained acronyms only.

David Pope 0
Is this big data? Or is it complex data?

Yes, we have all heard about the 3 V's of big data by now. Or the 4 V's or possibly 5 V's, depending on who you ask.   However, I would argue the value of data isn't necessarily tied to the "volume" part of big data (unless of course you are a

Analytics
David Pope 0
What is your perception of SAS?

Our perceptions can impact others and influence decisions.  As a result, I always like to understand each customer's perception of what SAS is and what we do. There is no right or wrong answer to this question, however the response provides me with a chance to listen to our customers.

Analytics
David Pope 0
Analytics, the ultimate renewable resource

The value of analytics to solve multiple business problems really makes analytics the ultimate reusable business investment, or as they say in the energy industry, it may be called a renewable resource. As I've commented before, organizations spend billions of dollars on storing data, and unless you happen to be a

Data Management
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A hit, a very palpable hit

In Shakespeare’s tragedy of Hamlet, the sycophantic Osric, who witnessed Hamlet’s “very palpable hit” during a fencing duel, forces Claudius to adopt another strategy to achieve his goal, Hamlet’s murder. I see this analogy playing out more and more frequently among the International oil companies (IOCs) and National oil companies