Posts by Marketing

Producer uncovers millions in operational improvements while establishing visual analytics culture

One of our favourite things is when our clients are able to get more value out of VERDAZO than they originally expected. We love watching visual analytics cultures take hold, as one project inspires another and users across organizations discover new uses for our product. At one intermediate Canadian producer, a project focused on minimizing downtime yielded a $12 million operational improvement on just a single group of wells. But that was just the start of what they did with VERDAZO. Here’s their story.

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Multivariate Analysis Using Advanced Probabilistic Techniques for Completion Optimization

(Feb 2017, SPE Canada Unconventional Resources Conference, Calgary) Efforts to identify optimal completion technology and design parameters are complicated by the compounding impacts of broad statistical variability in operations, reservoir/fluid and completion/wellbore design. There are several analysis approaches available to identify and optimize key completion design parameters. Each approach offers limited insight on its own, but combining a set of approaches into a disciplined methodology can collectively present a unique understanding of optimal completion technology and design. This is the presentation for manuscript SPE-185077-MS presented at SPE Canada Unconventional Resources Conference on Thursday, February 16, 2017.

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The Journey Towards Analytic Maturity

(Nov 2016, Haskayne School of Business, Calgary) This presentation outlines the opportunities that sophisticated data visualization software tools provide to oil & gas companies as they pursue analytic maturity and some of the key challenges they’ll face along the way. It offers insights into the way data visualization is being used to drive efficiencies, reduce costs, build consensus and overcome obstacles across the organization. Key case studies bring the concepts to life.

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February 3, 2017 by

Bertrand Groulx presenting on visual analytics at SPE Canada Unconventional Resources Conference

Verdazo Analytics’ President Bertrand Groulx will deliver a presentation, and sit on a panel, at the SPE Canada Unconventional Resources Conference in Calgary on Thursday, February 16, 2017. Both will be focused on data analytics. Groulx’s presentation is titled “Multivariate Analysis Using Advanced Probabilistic Techniques for Completion Design Optimization”. This session takes place at 9:00 a.m. and is suitable for those with limited exposure to the data analytics space as well as more sophisticated practitioners. Groulx co-wrote SPE Paper 185077 with and Jim Gouveia of Rose & Associates and Don Chenery, also of Verdazo Analytics. At 10:30 the same day, Groulx will be a featured panelist discussing “Data Analytics and Cognitive Computing – Changing the Way We Work”. A key focus of the panel will be the ability of data analytics and cognitive computing to increase efficiencies in upstream oil and gas operations. Groulx will be joined on the panel by speakers from SAS, Nexen, RAMP Ventures and Woodside. The SPE Canada Unconventional Resources Conference takes place February 15-16 at the BMO Centre at Stampede Park in Calgary. To review the presentation delivered, click here. To purchase the full SPE paper, click here.  

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How a producer started its analytics journey

A producer in Calgary used our VERDAZO software as part of an initiative to improve their Well Review process. Their results went beyond their expectations: they were able to free up their engineers from days of manual Excel analysis in advance of a well review, saving time that exceeded $175,000 in annual costs. That initial project also spawned something the producer couldn’t have initially predicted: a commitment to analytics that eventually spread across the organization. New projects were created and an analytical culture took hold as the producer uncovered new efficiencies and value in unexpected places.

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November 2, 2016 by

Bertrand Groulx wins Society of Petroleum Engineers (SPE) Award

Calgary AB – Nov 2, 2016 – Verdazo Analytics’ President Bertrand Groulx has won an award from the Society of Petroleum Engineers (SPE) in the category of Regional Production and Operations. SPE awards recognize members for their exceptional service and leadership to the society, as well as major professional contributions to their technical disciplines at the regional level. Groulx was cited for his contributions to advancing industry best practices, elevating industry understanding of complexities in type-well curve development and improving analytic capabilities and statistical methodologies. The award will be presented to Groulx at a ceremony in Banff on November 30. A full list of SPE winners can be found here.

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October 18, 2016 by

Bertrand Groulx presenting on “Finding black gold in big data”

Verdazo Analytics’ President Bertrand Groulx will deliver a presentation on data analytics in a session titled “Finding black gold in big data” at the Chartered Professional Accountants of Canada’s conference for the oil & gas industry. The presentation will outline the opportunities that sophisticated data visualization software tools provide to oil & gas companies. There will be a focus on the way data visualization is being used to drive efficiencies, reduce unnecessary costs and build consensus across functional groups. Key case studies will be used to illustrate the concepts. Yogi Schulz, a Partner at Corvelle Consulting, will also be delivering a presentation in the same session. Groulx and Schulz’s presentations are scheduled for 12:45-1:45 on Nov 23. The Chartered Professional Accountants of Canada’s conference for the oil & gas industry runs Nov 23-24 in Calgary at the Calgary Telus Convention Centre. Learn more about the conference and register here.

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How Verdazo enabled an O&G startup to thrive during tough economic times

Our Oil & Gas clients continue to emphasize an increasingly acute need to do things smarter, simpler and more cost-effectively across their organizations. That’s one of the reasons why VERDAZO has been effective for them: it enhances their analytical capability and capacity no matter their economic constraints. This is important for any producer where the order of financial magnitude of a decision can be in the multi-millions of dollars. However, it may be even more critical for junior companies who often walk a thin financial line on the way to full capitalization and initial production. When Calgary-based Burgess Creek Exploration was founded in 2015, VERDAZO was its very first purchase.

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Verdazo’s contribution to the Alberta Modernized Royalty Framework

In early 2016 we were pleased to be asked by CAPP (Canadian Association of Petroleum Producers), and several of our clients, to contribute to the recent Alberta Oil & Gas royalty review mandated by the NDP government after its election in 2015. Our invitation to participate was based on the recognition that a critical way to ensure productive dialogue between stakeholders, particularly those with different needs and perspectives, is to start from an accurate, transparent, data-driven analysis framework. As part of our contribution to the review, we used our VERDAZO software to provide rapid analysis on a variety of potential C* scenarios and the impacts they would have on the industry and its stakeholders. It was particularly satisfying to be able to present our analyses to the panel stakeholders in an easily digestible visual form with our software. In our work with clients across the industry over the last decade, we’ve learned that being able to deliver sophisticated information visually is an effective way to build a data-driven consensus on the best course of action. Here at Verdazo Analytics, we’re very proud of the final outputs of the royalty review and thank CAPP (Canadian Association of Petroleum Producers) for including us in the process.

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Visual Analytic Techniques for Operational Efficiency and Performance Improvements

(May 2016, Canadian Operational Research Society (CORS) Conference) Increasingly companies are striving to optimize production and minimize costs. Analytics is increasingly becoming the secret weapon that companies use to identify downtime reduction opportunities, reduce costs and establish a competitive advantage. This presentation outlines visual analytic techniques and approaches that have helped oil and gas producers optimize production and reduce costs in challenging times.

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