Artificial intelligence is revolutionizing oil and gas drilling, enabling faster and more cost-effective production, according to executives at the CERAWeek conference in Houston. AI is prompting companies to reconsider previously unfeasible drilling locations due to difficulty or expense.
BP is utilizing AI to guide drill bits and predict well issues, allowing for increased well drilling per year and improved capital allocation. Devon Energy has employed AI to drill in previously unfeasible areas by gathering information about formation faults and drilling on the other side to avoid them. Chevron is using AI-powered drones to monitor shale operations in Texas and Colorado, reducing downtime for repairs and maintenance.
Devon Energy’s machine learning models monitor oil rigs across the U.S., resulting in a 25% improvement in the productive life of oil and gas wells. BP is evaluating seismic data in the Gulf of Mexico with AI, cutting analysis time from six to 12 months to eight to 12 weeks. This aids geoscientists in determining optimal drilling locations and predicting difficulties.
Recent AI advancements, such as large-language models, are transforming the sector. OpenPetro AI’s Chicheng Xu notes that AI can quickly create three-dimensional visualizations of subsurface features, providing a competitive advantage. Companies not adopting AI risk falling behind, according to Devon’s Trey Lowe.
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