Digital technologies such as artificial intelligence, the Internet of things, and blockchain can play a key role in creating a more sustainable and resilient low-carbon energy system. But first, what is blockchain exactly? Think of it as a decentralized digital ledger that records transactions and stores information such as financial transactions, medical records, and assets. Traditionally, transactional information is stored in one central ledger or database. A blockchain is a ledger, too, but one that stores data in encrypted blocks across a distributed network of computers.

The latitude/longitude mapping system is widely used worldwide, except in the United States. This approach is more orderly and easily allows the wells to be located in relation to other known wells or landmarks. The "lat/long" system is now being introduced in the United States in conjunction with the township/range scheme. Selecting offset wells to be used in data collection is important. Using Figure 1 as an example, assume that a 13,000-ft prospect is to be drilled in the northeast corner of Section 30, T18S, R15E. The best candidates for offset analyses are shown in Table 1. Although these wells were selected for control analysis, available data from any well in the area should be analyzed.

Eq. 9.56 assumes the same units as Eq.

If least-squares linear regression is used to compute N in Step 5, an equation analogous to Eq. 17 is used (where Eow is substituted for Eowf). This solution method is iterative because the material-balance error must be minimized. This calculation is carried out with a trial-and-error method or a minimization algorithm. Least-squares linear regression and minimization algorithms have become standard features in commercial spreadsheets.

Many approaches to estimating permeability exist. Recognizing the importance of rock type, various petrophysical (grain size, surface area, and pore size) models have been developed. This page explores techniques for applying well logs and other data to the problem of predicting permeability [k or log(k)] in uncored wells. If the rock formation of interest has a fairly uniform grain composition and a common diagenetic history, then log(k)-Φ patterns are simple, straightforward statistical prediction techniques can be used, and reservoir zonation is not required. However, if a field encompasses several lithologies, perhaps with varying diagenetic imprints resulting from varying mineral composition and fluid flow histories, then the log(k)-Φ patterns are scattered, and reservoir zonation is required before predictive techniques can be applied.

In 2020, the world seemingly entered a new era of cyberattacks. Although there have been decades of viruses, breaches, and other forms of attack, last year saw increased bad actor sophistication, a propensity to pay in ransomware cases, and a broad swath of geopolitical uncertainty—conditions that hackers have found favorable. The severity of financial consequences has been profound. Ransoms have rocketed from five-figure price tags into the millions, including $10 million reportedly paid by Garmin. Several ransom demands were far higher before being negotiated downward, according to clients worldwide.

Artificial intelligence (AI) is serving companies across a broad array of industries. It's not about replacing human workers with machine counterparts but rather helping businesses operate more effectively in their fields and expand to new horizons and capabilities. Scott Matteson spoke with AJ Abdallat, chief executive officer and founder of Beyond Limits, an enterprise AI solution provider, to see how AI has been fulfilling its promise in the business realm. Scott Matteson: How is AI playing a role in operational efficiency in the oil and gas, energy, manufacturing, and healthcare fields? AJ Abdallat: AI is playing a critical role in operational efficiency across the energy value chain to optimize resource production, democratize domain expert knowledge, and increase value while reducing environmental risk.

What is Monte Carlo Integration? Monte Carlo, is in fact, the name of the world-famous casino located in the eponymous district of the principality of Monaco on the world-famous French Riviera. It turns out that the casino inspired the minds of famous scientists to devise an intriguing mathematical technique for solving complex problems in statistics, numerical computing, and system simulation. One of the first and most famous uses of this technique was during the Manhattan Project when the chain-reaction dynamics in highly enriched uranium presented an unimaginably complex theoretical calculation to the scientists. Even the genius minds such as John Von Neumann, Stanislaw Ulam, and Nicholas Metropolis could not tackle it in the traditional way.

Oil and gas industry interest is surging in using remote survey technologies for more cost-efficient, safer, and lower-carbon certification, verification, and inspection of assets and operations. Amid COVID-19 travel restrictions in 2020, DNV GL has conducted more than 4,000 remote surveys for the sector. These have provided the supply chain with the assurance it needs to keep projects and operations running safely and on schedule. Remote surveys involve fixed and mobile cameras (e.g., smartphones) giving customers instant access to DNV GL experts worldwide for verification, classification, and certification of assets, verification of materials and components, inspection, and marine assurance. The growing track record for remote survey technology could soon make it the method of choice for inspections in some places and circumstances, according to a senior expert at one leading oil and gas exploration and production company.

Outside of my work with software companies, I teach professional scientists and engineers how to write their own software scripts. People come to me wanting to automate repetitive work flows or perform data science tasks. I often run programs for corporate teams, and I often step in and do consulting, too. This has been going on since 2014. Over the years, I’ve taught thousands of people and worked with dozens of Fortune 500 companies, smaller operators, and professional societies.