Applied Statistical Modeling and Data Analytics for Reservoir Performance Analysis
There is a growing trend towards the use of statistical modeling and data analytics for analyzing the performance of petroleum reservoirs. The goal is to “mine the data” and develop data-driven insights to understand and optimize reservoir response. The process involves: (1) acquiring and managing data in large volumes, of different varieties, and at high velocities, and (2) using statistical techniques to discover hidden patterns of association and relationships in these large, complex, multivariate datasets. However, the subject remains a mystery to most petroleum engineers and geoscientists because of the statistics-heavy jargon and the use of complex algorithms.
This workshop will provide an introduction to statistical modeling and data analytics for reservoir performance analysis by focusing on: (a) easy-to-understand descriptions of the commonly-used concepts and techniques, and (b) case studies demonstrating the value-added proposition for these methods. Participants are encouraged to bring their own laptops to follow along the exercises in the workshop. Topics to be covered include:
- Terminology and basic concepts of statistical modeling and data analytics
- Multivariate data reduction and clustering (for finding sub-groups of data that have similar attributes)
- Machine learning for regression and classification (for developing data-driven input-output models from production data as an alternative to physics-based models)
- Proxy construction using experimental design (for building fast statistical surrogate models of reservoir performance from simulator outputs for history matching and uncertainty analysis)
- Uncertainty quantification for performance forecasting
Introductory to Intermediate
Why You Should Attend
As “big data” becomes more common place, it will be necessary to extract as much intelligence from our ever-expanding trove of dynamic data from petroleum reservoir to improve operational efficiencies and make better decisions. This course provides the background to understand and apply fundamental concepts of classical statistics, as well as emerging concepts from data analytics, in the analysis of reservoir performance related datasets. This will petroleum engineers/geoscientists to efficiently interact with data scientists and develop practical data-driven applications for their assets (without getting lost in the math).
Who Should Attend
This course is for designed for petroleum engineers, geoscientists, and managers interested in becoming smart users of statistical modeling and data analytics.
0.8 CEUs (Continuing Education Units) will be awarded for this 1-day course.
All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14 day window will not be refunded. Refunds will not be given due to no show situations.
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Full Regional cancellation policies can be found at the “Cancellation Policy” link on the SPE Training Course Catalog page: http://www.spe.org/training/catalog.php.
Dr. Srikanta Mishra is an Institute Fellow and Chief Scientist (Energy) at Battelle Memorial Institute, the world's largest independent contract R&D organization. He is responsible for developing and managing a geoscience-oriented technology portfolio related to computational modeling and data analytics for geological carbon storage, shale gas development and improved oil recovery projects. Dr. Mishra has taught short courses on uncertainty quantification, statistical modeling and data analytics at various professional conferences and client locations in the US, China, Spain, Japan, Finland, Belgium and Switzerland. He is author of a forthcoming book on statistical modeling and data analytics for the petroleum geosciences to be published by Elsevier, as well as ~200 technical publications. He holds a PhD degree from Stanford University, an MS degree from University of Texas and a BTech degree from Indian School of Mines – all in Petroleum Engineering.