HOUSTON—The Permian Basin has long been a bountiful playground for operators including Riverford Exploration LLC. The Texas-based E&P has seen success using 3-D geocellular and reservoir characterization artificial intelligence (AI) to assess the basin.
The data Riverford has extracted from applying AI to its assets in the Midland and Delaware basins has allowed the company to predict future drilling paths of operators and resource potential, said Riverford’s president and CEO, Bill Fairhurst, at the Machine Learning & AI For Upstream Onshore Oil & Gas 2019 conference on Aug. 29.
Most importantly, Fairhurst said the company has been able to assess productivity. In conjunction with the Bureau of Economic Geology and Tight Oil Resource Assessment (TORA), he estimates that there are still roughly 100,000 more wells that can be drilled in the Permian.