8 Things You Need to Get Ahead in Your Oil Exploration Business: AAPG 2014

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Oil Exploration. In the game of energy it carries the most risk, and offers the greatest reward.

While the engineering and logistical problems of refining and transportation are certainly immense, the thrill of locating, planning, drilling and completing a new well takes a certain combination of knowledge, experience and, well, guts.

Everything you do, all the data you gather, all the questions you ask are designed to help you make the best decision instead of a hundred million dollar mistake.

At the 2014 American Association of Petroleum Geologists (AAPG) Annual Convention and Exhibition (ACE) I found some common themes amongst the products and workflows on display.

8 Things You Need for better Oil Exploration

Better Data, Faster:
You need the most data, up-to-date, clean, and ready-to-use. You’re tired of being an expert in IT and database design. You need quick access to data from other sources, and secure access to your own proprietary data. And when you’ve built a project you want the data to be persistent – you can’t waste time reloading everything just because you had to reopen another project.

Better Data Handling:
You need to identify problems in data and normalize them as efficiently as possible. You can’t afford to just throw away data just because the data was gathered by a different company at a different time. Or perhaps someone spilled a cup of coffee on the paper log.

Better Data Integration:
Time data and depth data need to work together. And when you’re working on your project you need all the other relevant data at your fingertips – land, permitting, geochemistry, basin structure, paleo…

Better Data Pattern Recognition:
Sometimes you need a quick yes or no. You have a lifetime of experience, and know what the favorable circumstances are. Your data should help you see them at a glance.

Better Data Analysis:
Sometimes you need a little more help identifying trends. And you need help identifying outliers for your QC.

Better Data Regression:
Sometimes you need to see all of the possible trends, and you need to go beyond simple correlation and dig into significance.

Better Data Viz:
You need to make the unseeable visable. You need a solid three-dimensional representation built on available 2D and 3D seismic, correlated with well logs, and attached to production data, so you can show your boss, or your investors, or your family exactly where the oil is, and why the reward is worth the risk.

A Better Data Platform:
You need a data platform that enables all of the above: persistent, easily managed data normalized per your system coordinating geological, geophysical, engineering and land data with tools for rapid reconnaissance or deep analysis based on the results you need to make your decision.

Throw all of that onto a modern software platform with all the hot current features AND the engineering headroom to innovate rapidly into the future and it’s pretty clear that you need DI Transform.

Your Turn

What do you think? What were the common themes you saw around AAPG ACE? Did you see anything super cool? Leave a comment below.

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Eric Roach

Eric Roach is the editor of Drillinginfo's blog, which was selected as the Top Oil & Gas Industry Blog based on visibility, engagement and relevance. He also prepares a weekly newsletter of top industry news for blog subscribers, and would be grateful if you would subscribe and tell your friends. (There's a box on the upper right of the page where you can subscribe).