P2 Energy Solutions has released P2 BZAlmanac, a library of accurate, probabilistic and unbiased oil and gas production forecasts for every well in the US.
P2 partnered with BetaZi – creator of the BZ Machine, a physics-based predictive analytics engine – to develop P2 BZAlmanac. P2 BZAlmanac’s forecasts are a combination of Tobin well and production data and long-term production forecasts generated in an automated fashion. The forecasts provide the full range of future production possibilities – p10 to p90 values – and are updated every month. P2 BZAlmanac enables users to generate forecasts for individual wells or aggregate wells by reservoir, operator, basin, state or county.
Janette Conradson, BetaZi’s Co-founder and CEO said: “This comprehensive tool represents a step change for the oil and gas data information sector. Every well forecast automatically available for all US wells is a powerful data point.”
P2 also partnered with BetaZi to create P2 Forecast, which was released in May 2016. P2 Forecast uses a company’s monthly production volumes and the BZ Machine to generate monthly production forecasts.