This is a continuation of the last blog Frac Analysis in VISAGE: Using Distributions as an Alternative to Linear Regressions where we demonstrated that cumulative probability distributions have a unique ability to communicate insights that can not be garnered from a linear regression with a weak correlation. We also demonstrated that distributions can sometimes demonstrate a “correlation window”, which is the range of values where the strongest relationship exists between two variables.
Today’s blog is focused on simple (iterative) techniques to further develop insights into optimal ranges for key completion parameters. The techniques include the following steps:
1) Look at the data from a different perspective to decide what wells to exclude.… Read more
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- Is production on target?
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- What wells are losing money and why?
- How are we performing against our peers?