AI-Powered Scheduling Boosts E&P Efficiency

A I • May 26,2024

An oil and gas E&P company faced challenges with inefficient scheduling, limited visibility, and difficulty optimizing resources. They implemented an AI-powered scheduling software called Actenum DSO/Upstream and achieved significant improvements in scheduling efficiency, visibility, planning, and collaboration. This resulted in faster well completion times, reduced idle time, better decision-making, and improved resource utilization.

Client:

The client is an independent exploration and production (E&P) company active in the Permian Basin. They were looking for a way to improve their drilling program scheduling and analysis, reducing costs and increasing efficiency.

Problem Statement:

Incohesive mix of application software (company uses multiple different software programs to manage a single task or process, without any integration or coordination between them).

● Extensive and tedious manual calculations
● Limited visibility over the complete schedule
● Almost no insight into key metrics
● Reactive mode (limited ability to proactively analyze and optimize the schedule)

These limitations of traditional methods led to inefficiencies, such as communication gaps, extended cycle times, missed milestones, and idle resources.

Results:

☑️ Increased Efficiency:
○ Faster well completion times due to improved scheduling.
○ Reduced idle time for rigs and other resources.
○ Ability to create and analyze multiple “what-if” scenarios in minutes for better decision-making.
☑️ Improved Visibility and Planning:
○ Centralized and integrated view of the entire drilling program schedule.
○ Real-time insights into key metrics like CAPEX, OPEX, and project milestones.
○ Improved ability to plan resources and budgets based on data-driven insights.
☑️ Enhanced Collaboration:
○ Potential for better communication and collaboration across teams due to a unified scheduling tool.
○ Easier customization of schedule views for different disciplines.
☑️ Streamlined Processes:
○ Drag-and-drop Gantt charts and user-friendly interface for faster scheduling.
○ Reduced need for manual calculations and data entry.
○ Accommodation of various project types with a single tool.

AI Solution:

In search of a solution to address the challenges of manual scheduling, the E&P company implemented Actenum DSO/Upstream, an AI-powered scheduling software that utilizes artificial intelligence to overcome the limitations of traditional scheduling methods.

Here’s how the company applied this AI solution:

Centralized Data and Integration: Actenum DSO/Upstream unifies drilling program data from various sources into a central platform. This eliminates data silos and allows for a holistic view of the schedule.

Automated Analysis and Optimization: The AI capabilities of the software analyze complex factors like resource constraints and well dependencies. It then suggests optimized scheduling options that minimize idle time and expedite well completion.

Scenario Modeling and Decision-Making: The software allows the company to create and analyze “what-if” scenarios in minutes. This empowers them to make data-driven decisions about well sequencing, resource allocation, and cost minimization strategies.

Improved Communication and Visibility: By using a single, integrated platform, different teams can access and collaborate on the schedule more effectively. Additionally, real-time insights into key metrics like project milestones and financial expenditures enhance overall visibility.