Dan Patterson

Six years ago, EM beyond the Avalon formation was inconsistent or impossible and drilling ROP was nearly 50% of what it is now. This new technology has done 100% past that point several times, and at 6 to 12 bps. I've heard that the speed isn't necessary... Why would you not want more frequent real-time Inc, Azimuth, Gamma, Shock or other variable to match the ever increasing ROP? Our goal at the outset was to build something that kept up with the ROP moving target and aid Drilling/Geology departments building better wellbores. The one item that's definitely novel here is the additional benefits of providing real-time near bit resistance measurement for formation correlation, ahead of the gamma sensor. Schedule your trial today! #mwd #quantumleap

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Texas is the State of the Future and is leading the atomic energy revival. The expansive buildout of Industry 4.0 solutions depends on nuclear, "non-stop" power. We have massive new demand coming to the grid from reshoring manufacturing, electrifying the Permian Basin, electrification of mobility (terawatts), water abundance, Artificial Intelligence, and autonomous systems. Autonomy Institute https://lnkd.in/gmu9yaab #infrastructure #energy #nuclear #electricity #future #digital #innovation #data #people #transportation #manufacturing #dataexchange  #partnerships #supplychains #digitaltwin #privacy #investment #p3programs

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Free Energy is possible.

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A quick post from the team on the recent NSI webinar where Tyler and Shabnam gave an update on the ShearFrac technology. #realtime #fracoptimization #capitalefficiency

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I'm thrilled to be speaking at the "Generative AI, Machine Learning, and Analytics for Subsurface Energy" #conference on December 10–11 in #Houston, Texas! My presentation, "Harnessing Machine Learning to Enable Geomechanical Characterization without Well Logs," will explore how cutting-edge AI techniques can overcome the limitations of traditional log-based #geomechanicalmodeling. I'll share insights on how TEVERRA's Drilling Dynamics Geomechanics (#DDG) technology is leveraging machine learning and #drilling data to enable geomechanical modeling for entire well length regardless of the trajectory, unlocking new opportunities in #oilandgas, geothermal and #carbonstorage projects. Looking forward to engaging with fellow innovators and pushing the frontiers of #subsurface energy! Session: Where AI Is Making a Difference to Geoscientists: Examples / Case Studies Time: 2:15–3:00 pm Location: Norris Conference Center, Houston #AI #MachineLearning #Geomechanics #SubsurfaceEnergy #Geothermal #CCS #EnergyInnovation Susan Nash #aapg #spe #eage https://lnkd.in/emRpCCiF

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Are you getting the most out of your inspection data? Why not see what we can do to help empower your decision-making? We provide bespoke inspection and data management solutions no one else has. Please get in touch to find out more. #aisus

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In the current edition of Oil IT Journal https://oilit.com (Number 278) my editorial considers how much information we are allowing to "leak" into third party large language models - for possible future use by competitors. And (for subscribers) more from the 2024 EAGE Digital event, reports from Norwegian FORCE event on, inter alia, "strategic misrepresentation" in reserve estimation, on the "impossibility" of getting data out of OSDU, on TotalEnergies semantic NLP that is to "revolutionize oil discovery" ... and lots more good stuff.

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We'll be the first to admit we're a bit biased towards the #Texas #oilgas industry, so here's 10 interesting facts about it! https://lnkd.in/gj3eTptF #LearningatWork #permianbasin #midland #odessa #oilindustry #drilling #frac

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Interesting Update on OXY: Occidental Petroleum (NYSE: OXY) is considering divesting a portion of its operations in the Permian Basin in Texas, potentially fetching over $1 billion. This divestiture aligns with Occidental's broader strategy to reduce its substantial debt, which currently stands at $18.5 billion. To facilitate this process, Occidental has engaged financial advisors to seek potential buyers for its assets in the Barilla Draw area. However, the outcome of this sale remains uncertain, leading to a slight decline in shares during today's trading session. Furthermore, Occidental's CEO, Vicki Hollub, disclosed that a delay in regulatory approval has postponed the company's $12 billion acquisition of CrownRock until later this year. Consequently, plans to divest other assets valued at approximately $6 billion have also been delayed. Nonetheless, Occidental remains committed to divesting the Barilla Draw assets, encompassing approximately 27,500 acres and currently producing around 24,400 barrels of oil equivalent per day. OXY is scheduled to announce its earnings on May 7, with analysts anticipating year-over-year declines. Projections suggest earnings per share and revenues to be $0.58 and $6.78 billion, respectively, reflecting a decrease of approximately 37% and 5.5% compared to the previous year. According to TipRanks' Options tool, investors anticipate a 4.06% movement in share prices following the earnings release. On Wall Street, analysts maintain a Moderate Buy consensus rating on OXY stock, with seven Buys, 11 Holds, and zero Sells recorded in the past three months. Despite a notable 11% increase in its share price over the past year, the average price target of $71.94 per share suggests a potential upside of 11.57%. https://lnkd.in/gVDTDH5j

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The End of the Petrodollar: Why It Matters More Than You Think🌍 My dad was a senior geologist for the state of Louisiana and share this with me. Did you know that the global economy as we know it hinges on a single concept: the Petrodollar? Most people have no clue what it is, let alone why its potential end is monumental. 🔍 What is the Petrodollar? Simply put, the Petrodollar system is the practice of trading oil exclusively in U.S. dollars. Since the 1970s, this system has cemented the dollar's dominance in global trade and finance. 💥 Why is it Important? 1.Global Economic Stability: The Petrodollar underpins the strength of the U.S. dollar, which in turn affects global economic stability. 2.U.S. Influence: It grants the U.S. significant geopolitical leverage. Countries need dollars to buy oil, maintaining demand for the currency. 3.Investment Flows: Oil-exporting countries often reinvest their dollars into U.S. assets, supporting the American economy. 🚨 What's Changing? With countries like China and Russia exploring alternatives, the era of the Petrodollar might be coming to an end. The rise of new trade agreements in other currencies could disrupt the global balance of power. 😴 So Many People are Sleeping... While this shift might seem abstract, its implications are profound. It could redefine international trade, economic stability, and even global power dynamics. Staying informed and adaptive is crucial in this rapidly changing landscape. 💡 What would I Do? Stay Educated: Follow global economic trends and understand their implications. Diversify Investments: Don't put all your eggs in one basket. Diversify to hedge against potential shifts. Network and Engage: Discuss these topics with industry peers to stay ahead of the curve. The world is changing faster than ever. Let's not be the ones caught off guard. Alberto J. Raggio, Blessings from San Antonio, Texas. I have nothing but love for you. #Petrodollar #GlobalEconomy #FinancialStability #Geopolitics #StayInformed #BusinessStrategy #drawyourcircle

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BP vs Conoco-Marathon The Times They Are A-Changin’ “ConocoPhillips is heading for a market value of more than $150 billion, dwarfing BP’s current $103 billion capitalization.” “The big difference between the two companies is that while BP remains a fully integrated wellhead-to-gas-station oil major, ConocoPhillips got rid of refineries more than a decade ago.” “BP and the combined Conoco-Marathon pump about the same amount of oil and gas. One striking statistic: BP employs almost 90,000 people, Conoco and Marathon just 12,000.” “What to make of the comparison? First, it’s a vivid illustration of the US premium — it’s little wonder Shell Plc boss Wael Sawan and TotalEnergies SE’s Patrick Pouyanne have floated the idea of a New York listing.”

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This brief (2 min) video includes the top three Energy Worldnet recommendations for ensuring your contractors are adequately integrated into your Operator Qualification #OQ Program. Click this link to access the entire FREE webinar and white paper on the topic. https://lnkd.in/ggv2VmP4

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AI tools must be tools to help us and our engineers to do a better job, to save money and to give us time to life balance. Actually we have with our engineers to develop and improve our models, the data is te most important value to AI and machine learning

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“I only drink when it rains or when it doesn't rain”, was supposedly uttered by Mick Jagger.  Similarly, US power outages occur when it rains and when it does not rain. It wasn’t like that in the past. The US electricity grid, as reported by DOE data (https://lnkd.in/gAni-G8A) was quite reliable and totaled only about 50 power outages a year during the early 2000s. More recently, however, when ignoring an increasing number of vandalism cases, weather-related and non-weather related outages have both been on the rise to total about 300 power outages a year. When it rains it pours. If you are a climate-change zealot seeking your monotheistic cause for all our problems, you jump on the weather-related outages to confirm you are right. But why are these outages increasing when experts like Roger Pielke Jr. report that the IPCC does not see extreme weather events increasing? And what do you do about the non-weather related increases in power outages? Some point to a grid that is getting older. But is it getting older faster because necessary upgrading is ignored in lieu of all-out spending on weather-dependent electricity sources? I have pointed to a good correlation (https://lnkd.in/gsrZ_Tzf) between outages and an increasing percentage of weather-dependent electricity sources. Every % of unreliable power addition leads to about 35 more outages every year, but alas – correlation is not causation. What do you think is the cause of the increasing number of US electrical power outages? #grid #electricalgrid #climate #climatechange #energy #energytransition #blackout 

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#Oilfield safety is always our number one priority at CDM Software Solutions. That's why CDM Asset Tracking™ includes functional testing for your assets, so you're never taking a risk on faulty hardware. #oilgas #drilling #permianbasin #midland #drilling#oilgas

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Zack Warren presented at the Society of Petroleum Evaluation Engineers luncheon in Houston this week and as usual brought his fastball. Great points around tech and analytics in reserves evaluation, but also around software and data in #oilandgas in general. He spent a good amount of time on the ‘big 6’ areas which are the core for any company. Starting with ERP, surrounded by production allocation, land, SCADA, reserves & planning, and well lifecyle. Not only are they key to how the business is run, but how they are handled and integrated is critical. These make up a solid base to Zack’s pyramid of data. How you gather and manage data has to be solid before you can ever get to descriptive and predictive analytics, or start getting value from AI and ML. At Quorum we call this the ‘digital core’ of a company and it's how we think about software and how to help companies achieve this. This is near and dear to my heart, and anyone who has spoken to me for 5 minutes has probably heard me ramble about the topic. Garbage in means garbage out, and being thoughtful with your processes and data is the unsexy but important piece to running an efficient and profitable business. Many more great points and insights were raised and I’d encourage anyone to connect with Zack, Michael Hirsch, and the Velocity Insights team to hear more on the topic and how they help companies get there. #energytech #sales #networking

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