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EP 14 · Enhancing Production Forecasting Accuracy: A Machine Learning Approach in the Permian Basin
Why is it so hard to forecast young wells in the Permian? In this episode of The Novi AI Roundup, we explore the challenges of early-life production forecasting, and how machine learning can outperform traditional decline curve models when data is sparse and variable. Drawing from the technical paper “Enhancing Production Forecasting Accuracy: A Machine Learning Approach in the Permian Basin”, we compare ML vs. Arps across a wide range of well types, and reveal what’s really happening in months 3 through 12.This podcast episode is based on the technical paper “Enhancing Production Forecasting Accuracy: A Machine Learning Approach in the Permian Basin”, authors: K. Sathaye¹ S. Iceton, T. Cross. Download the full paper here.
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By Novi LabsWhy is it so hard to forecast young wells in the Permian? In this episode of The Novi AI Roundup, we explore the challenges of early-life production forecasting, and how machine learning can outperform traditional decline curve models when data is sparse and variable. Drawing from the technical paper “Enhancing Production Forecasting Accuracy: A Machine Learning Approach in the Permian Basin”, we compare ML vs. Arps across a wide range of well types, and reveal what’s really happening in months 3 through 12.This podcast episode is based on the technical paper “Enhancing Production Forecasting Accuracy: A Machine Learning Approach in the Permian Basin”, authors: K. Sathaye¹ S. Iceton, T. Cross. Download the full paper here.