SC 07-Advanced Analytics: Understanding the Powers and Pitfalls of Multivariate Statistics for Upstream Oil & Gas (Half Day)

Date: Wednesday, October 23, 2019

Time: 8:30 am to 11:45 am

Location: Marriott Westchase,

Cost: $95  (Half Day Class)

Instructor: Andrew Silver, Adret LLC

Included with course registration: Class notes, buffet lunch (at noon) and networking time.

This course provides an introduction to data wrangling, data and modelling diagnostics, descriptive analytics, and predictive analytics featuring some use-cases built with upstream oil & gas data.

A revival in the popularity of multivariate statistical algorithms has occurred in the oil & gas industry these last few years due to a combination of high-profile use cases and decreasing computing costs.  As the promise of “advanced analytics” (a.k.a. “data science,” “machine learning,” and “artificial intelligence”) is splashed across the headlines, a certain amount of unfounded hype is also clouding the landscape regarding what we can hope to gain from analytics implementations.  It is important to become aware of how data-driven statistical algorithms can and cannot improve established physics- and geoscience-based modelling techniques.

BIO: Andrew Silver

Andrew works as a Geological Specialist in an Upstream Data Science team at Aramco Services Company and is the owner of Adret LLC. He has 14 years of Upstream O&G experience in resource development, A&D, and exploration with a variety of publicly- and privately-held operators and service companies. He has a M.S. Analytics from the Department of Statistics at Texas A&M University, a M.S. Earth Science from Rice University, and a B.S. Geology and B.S. Food Science from Brigham Young University.

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