EluciData brings analytical and machine learning methods originally developed for data-heavy applications such as national security and the healthcare industry to the oil and gas industry, Battelle says. The technology can be used to help petroleum developers make smarter decisions and more effectively manage assets. It can also develop predictive models for cost effective and optimized well designs.
Stephanie Kute, Ph.D., who runs the program for Battelle, says EluciData can help oil and gas firms apply big data to improve their processes as well as save time and money by using statistical modeling.
EluciData can pinpoint factors that separate good wells from poor performers, the company says. It also can show how oil production is related to geologic formations and how to develop robust predictive models.