IBM (NYSE: IBM) and Flotek Industries Inc. (NYSE: FTK) have agreed to develop a cognitive reservoir performance system for the oil and gas industry, according to a news release.
Using IBM Watson Explorer technology, the system will analyze Flotek’s proprietary oilfield chemistry research, oil and gas client-contributed data and publicly reported sources from completion and production to reveal insights and identify new approaches to enhance the performance of wells throughout their entire life-cycle, the release said.
Flotek’s Reservoir Cognitive Consultant TM is intended to improve decision-making using machine learning to maximize reservoir performance through the Watson platform. This would allow data scientists and chemists to search and analyze data from wells in real-time and apply their technical expertise to discover trends and gain insights, the release said.
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