Correlation vs Causation: What Engineers can Learn from Economists

Correlation vs Causation: What Engineers can Learn from Economists

Data Analytics SIG
←  SPE - Calgary Section


Data Analytics SIG:
 Correlation vs Causation: What Engineers can Learn from Economists 

Date: Tuesday 26th of November 2019
Speaker: Melanie Popp @ geoLOGIC
Location: Calgary Petroleum Club
Time: 11:30 AM - 1:00 PM 
Cost:
Members: $ 45, Non-Members: $55, Students: $15 


Abstract:

This presentation will focus on evaluation of operator performance utilizing geoLOGIC’s Premium Data Set in the Spotfire analytics platform to answer the question: does superior operational performance lead to better wells?

Melanie will show the power of utilizing comprehensive drilling data, tied to subsurface parameters, to better understand drilling performance and identify best practices.  Using an integrated dashboard, the story will continue to build throughout the life cycle of the field, incorporating completions design and well spacing.  The flexibility of the Spotfire platform allows for unique custom calculations and workflow development.  The relational gdc database makes it quick and easy to tie multiple data sets together to lead to more comprehensive insights.

From these initial insights, Melanie will then lead a discussion about other aspects that need to be considered when it comes to interpretation of datasets.  Following the principles of Freakonomics, this study will also discuss the risks of the unknowns and the pitfalls of drawing conclusions based on available data alone.

Speaker Bio:

Melanie Popp, P.Eng. Director, Engineering,geoLOGIC Systems

Melanie has spent her career working on completions optimization in unconventional gas: whether it be in the field with Schlumberger during the Barnett shale boom, trialing stimulation techniques in coalbed methane, or optimizing of the new “hot” Duvernay and Montney plays.  A self-described “data geek”, she joined the Geologic team in November 2017 and is focused on product development for workflow optimization.  In her 19 years of experience, she has spent a total of 12 years focusing on data visualizations which is why she is so excited about the new functionality that is being worked into the data sets and tools at geoLOGIC.


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November 26, 2019
From 11:30 AM to 1:00 PM
Calgary Petroleum Club
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