The oil and gas industry has accumulated huge amounts of data during the last 50 years, and new data is being acquired at an increasing pace every year. This data, both old and new, contains information that is extremely valuable and that information can now be extracted more effectively using recently introduced big data analytics and deep learning technologies. For these reasons, most oil and companies have decided to “go digital” and embarked in ambitious programs that will benefit all domains, from E&P efficiency to drilling optimization, from supply chain to human resource management, and more.
Preston Cody, Head of Analytics Solutions, will be presenting and discussing leading edge big data and machine learning applications, to help you better understand the future potential and impact of these technologies on our industry.
To request for a 1 to 1 meeting with our experts, please email laura.weyler@woodmac.com.
For further information on how you can take part in this EAGE Workshop, please visit the event website https://events.eage.org/en/2019/big-data-and-machine-learning
Agenda
26 March 2019
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Signal vs. Noise: The (Dis)connection between Data, Analytics, and Value
Digital technologies are delivering more and more information to decision makers where they need, when they need it. This success so far is ratcheting up the expectations from investors and executives to deliver financial returns and balance sheet impact from these technologies. Inundated in more data than ever before, leaders are turning to data scientists and techniques such as Machine Learning to unlock new value from all this information, but the potential is limited by the underlying data those methods rely on.
While statistical approaches show promise, there is a steep learning curve still ahead, with questions remaining as to what portion of "Analytics" are actionable by decisions makers. Using examples from predictive analytics case studies, Wood Mac will demonstrate the potential for complex pattern detection across diverse datasets but also highlight the lessons learned so far and what we will need to do as an industry to deliver material value.
Speakers
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Preston leads the Analytics Lab at Wood Mackenzie, where we work with our clients to discover new ways to unlock value with data and analytics. Since 2015 he has worked on innovative new products and developing the Wood Mac strategy for transforming its data services into a cloud-based, integrated environment for analysis. Previously he served as a project director and manager within the Consulting team at Wood Mackenzie, advising E&P clients on their strategies for portfolio management, exploration, and unconventionals. Prior to joining Wood Mackenzie, Preston worked at Deloitte Consulting where he managed multiple projects for a large independent to ramp up unconventional gas operations within key shale plays such as the Marcellus and Eagle Ford. He also conducted benchmarking studies comparing how companies achieved operational efficiencies in developing unconventional resources. Preston has published several thought pieces and presented at conferences on how to evaluate the value and risk between conventional and unconventional resource opportunities, as well as supply chain management for onshore US operations. Before his career in energy consulting, Preston worked on information technology development projects, several of which were awarded patents. Preston holds a BA in Economics from Princeton University and an MBA from the University of Texas. He holds certificates in Finance and Applications of Computer Science from Princeton, and has completed the John Hopkins Specialization for Data Science (via Coursera).
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Fees
If you are not a client please use the enquiry form at the top of this page to register your interest in attending.