Occidental Petroleum Corporation · NYSE:OXY
Occidental Petroleum — Morgan Stanley Conference Houston 2017
13 slides from Occidental Petroleum's conference presentation, May 9, 2017
Slide 1: Analytics and Big Data in the Oil Field
Analytics and Big Data in the Oil Field Occidental Petroleum Corporation May 9, 2017 Vicki Hollub President and Chief Executive Officer Jody Elliott Senior Vice President, President, Oxy Oil and Gas David Bowlby Vice President, Data Management and Analytics
Slide 2: Cautionary Statements
Cautionary Statements Forward-Looking Statements Portions of this presentation contain forward-looking statements and involve risks and uncertainties that could materially affect expected results of operations, liquidity, cash flows and business prospects. Actual results may differ from anticipated
Slide 3: Agenda
Agenda • Introduction • Oxy’s Journey to Digital Transformation • Re-Imagined Oilfield (RIO) – What’s Next • Driving Value Through Data Analytics 3
Slide 4: Differentiated Value-Based Approach
Differentiated Creating shareholder value over the long-term Value-Based Approach • Culture of innovative technology and process – Subsurface characterization • More Oil – Integrated development planning – Oxy Drilling Dynamics • Less Cost – Innovative facility designs – Long-term base management –
Slide 5: Oxy Permian Business Overview
Net Operated 2016 Net Oxy Permian Business Overview Oxy Permian Acres Wells* Production Mboed • Resources – Unconventional Areas 1.4 5,150 124 • Enhanced Oil Recovery Areas 1.1 19,310 145 Oxy Permian Total 2.5MM 24,460 269 • Largest operated position in the Permian Permian Basin Industry Production
Slide 6: Our Journey to Digital Transformation
Our Journey to Digital Transformation Production Optimization Consolidated ERP Systems • Institutionalized Processes • Integration of operational, technical and and Tools financial data • Single reporting repository • Global Supply Chain • Focus on analysis and • Single Chart of Accounts decision ma
Slide 7: Capturing and Executing Innovative Ideas
Capturing and Executing Innovative Ideas Oxy’s Innovation Process Current Innovation Pipeline Statistics and Results A flexible system that flows, changes form in real time, and seeks the most natural path to its destination. 107 7
Slide 8: Data Science – Going Beyond Interesting
Data Science – Going Beyond Interesting Data Collection & Profiling Insight & Recommendations Computational Methods Key Levers University Partnerships Optimization Data & Analytics Domain Expertise O&G Industry Oxy & Industry Expertise • Numerical and stochastic Research • Data Preparation & Tagging
Slide 9: Driving Value @ the Bit
Driving Value @ Bit Algorithm @ the Bit • Predicts bit location using physics +machine learning Projection Distance • Calculates dogleg severity, build/turn rate, motor @Bit + @Target yield • $325K avg. per rig savings • Vendor performance metrics @ Target Algorithm • Increase in Rate of Penetration
Slide 10: Driving Value @ the Reservoir
Driving Value @ the Reservoir Observation Well Injection Well Vent Well Target=$100MM Steam/Water/CO2 Field decisions that optimize daily total field • Leverage field data and new production data sources Temp, Press • Optimize over larger areas Injection • Integrates w/existing workflow Producing We
Slide 11: Driving Value @ the Well
Driving Value Lift System Diagnostic/Optimization @ the Well • Leverages artificial intelligence and pattern recognition • Increase run life • Proprietary deviated well algorithms based on mechanical engineering+applied mathematics • Earlier detection of failures • Improve staff efficiency, quality
Slide 12: Driving Value @ Field Development
Driving Value @ Field Development Multivariate Modelling • Augments, validates and quickens existing practices • Predictive, interactive multivariate statistical model that predicts geologic sweet spot areas and compares completion practices and cost factors • Interactive framework that improves as
Slide 13: The Possibilities Are Endless…
The Possibilities Are Endless… Retention & Risk Management Field Development Identifying Organization Issues Where to Drill Risk Management Capital Optimization Lease Management Analytics Production HES Workforce Management Identifying Key Players & Future Leaders Reservoir Characterization Predicti
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