One would have thought the oil/gas industry has, by now, figured out all it needs to know to keep raking in the shekels
Until AI got into the game…
"The Machine Learning technology that MCF Energy is using allows for the computer to ‘see’ information within seismic data which the human eye cannot. This technology is a game changer and is only now being discovered by other operators,” MCF Energy’s Hill told Oilprice.com recently. Using Paradise software, MCF Energy’s key AI analyst, advisor Deborah Sacrey, has a prediction success rate of over 80% for drilling in areas that are not visual to humans on the data. She has 9 discoveries of this nature to her name, according to the company.’
’ Shell—the biggest producer in the U.S. Gulf of Mexico—will use AI-based technology from big-data analytics company SparkCognition for deep sea exploration and production—both to pinpoint where to drill and boost offshore production.
AI could shorten exploration to less than nine days from nine months, the two companies said in a statement, with SparkCognition’s Bruce Porter noting that “generative AI for seismic imaging can positively disrupt the exploration process and has broad and far-reaching implications".