In the Bidding/Block Evaluation part of the Business Planning Add-on to GOM3, we have analyzed a large number of variables to see how those factors have influenced bidding in the past. These variables include the proximity to known discoveries/fields, existing infrastructure, the density of leases and past bids and many others. The current state of the Gulf is then analyzed based on those results to predict how companies will bid in the next sale and, based on similar variables, how much the high bid would be if a bid is received.
This upcoming webinar goes into detail about how this model works, how well the model has identified prospective bids and the variance of results. It will also cover some of the new ideas that are currently being investigated for future development.
Important variables in estimating high bid amounts based on lease sales between 2009 and 2018.
Click here to register and see more info. The webinar is capped at 24 connections and there will be plenty of time to delve into deeper questions about the statistics and regressions involved.
Setting up analysis for Sale 252.
Scott Morris will be presenting the paper, Machine-Learned Mapping of Basin-wide Salt: Old Data–New Methods, at the 1st Subsurface Intelligence and Analytics Conference on March 5th. This is part of the Houston Geological Society's Applied Geoscience Conference and will be held at Anadarko's offices in The Woodlands. For more information, or a copy of the paper as submitted to the journal Geophysics, please contact Scott Morris.
The 13th Annual User Conference will be held on Thursday, April 25, 2019 at Anadarko's offices in The Woodlands. Registration is now available. As always, this event will present details about improvements from the past year and a look at future plans, including a forum for suggestions on that future.
The conference is intended for geologists, geophysicists, engineers, land specialists, GIS professionals/techs, and managers. The exchange of ideas and directions for our future development are still the top priority of the conference; we continue to aim for the informality and small size of past years. Registration is free, though limited, but we will do our best to accomodate those who wish to attend. More information will be included in newsletters in upcoming weeks, including a detailed agenda.