Energy companies need to predict potential oil and gas reserves. This is crucial in oil field development as oil prices vary throughout times. Accurate reserve estimations create a more realistic asset valuation, which contributes to providing valued information to shareholders.
LogicPlum allows companies to combine diverse information, such as geological data, historical yields, and reservoir characteristics, and use it to create accurate predictive models. By using these models, energy companies can define optimal exploration and field development strategies, effectively reducing risk and cost.
With LogicPlum, organizations can build effective prediction models that can help them to know where and how to extract oil and gas while minimizing potential losses.