Predico revolutionizes oil and gas operations by integrating all forecasting techniques—from traditional methods to cutting-edge approaches—on a single platform. Our key innovation lies in the automation of complex petroleum engineering workflows, which dramatically saves time and resources. By seamlessly combining physics-based models with data science and/or advanced machine learning algorithms, we deliver data-driven results in seconds rather than hours or days, all while maintaining the highest levels of accuracy.
Reservoir and Production Forecasting
Australian Case Study: Cooper Basin Pilot
In a pilot project conducted in the Cooper Basin, Australia, AFA was deployed to analyze approximately 120 wells, with a majority being oil wells. For the oil wells, automated ARP's Decline Curve Analysis (DCA) and Water Oil Ratio (WOR) analyses were utilized, while gas wells benefited from Flowing Material Balance (FMB) analysis.
Before implementing AFA, updating existing models and forecasts alone required an equivalent of 52 weeks of man-hours. Cumulative manual processes, including data access, correlation, modeling, and analysis, could take 1 to 2 hours per well.
With AFA, the entire process took as little as 10 minutes, showcasing a remarkable 150-300x improvement in cycle time.
Unlock the Power of AFA for Your Reservoir and Production Management
Experience the transformative capabilities of Predico's Advanced Flow Analytics. Join leading industry experts who are leveraging AFA to optimize reservoir and production operations, improve decision-making, and drive cost-effective results. Contact us today to schedule a personalized demonstration and start your journey towards enhanced data analysis and interpretation.
