I am honored to have been chosen to present our findings on this important initiative.
Dallas, Texas (PRWEB) May 23, 2016
Lone Star Analysis CEO Presents Findings on Modeling Best Practices at the 20th Petroleum Network Education Conference (PNEC)
Steve Roemerman presented a progress report on the Modeling Best Practices Benchmarking Project (MBP2) at the 20th International Conference on Petroleum Data Integration, Information and Data Management at the Marriott Westchase Hotel in Houston, Texas, May 17-19, 2016.
Mr. Roemerman’s report to a PNEC audience whose interests ranged from physics-based reservoir modeling, to machine-learning big data analytics was an opportunity to demonstrate best in class modeling practices across a wide range of industries and disciplines. For upstream energy practitioners, it was an opportunity to learn from outside the oil and gas industry.
The Petroleum Network Education Conferences (PNEC) looks at best practices and real world cases and solutions involving petroleum data and information management across the Exploration and Production (E&P) enterprise. Delegates, including Total, Halliburton, Schlumberger, Hess and Shell were part of the 150 firms from 33 nations benefited from this unique global view of the state of data applications plus future technology directions.
Mr. Roemerman said, “I am honored to have been chosen to present our findings on this important initiative. Since Lone Star’s modeling, simulation and analysis (MS&A) offerings cut across a wide range of disciplines, it made sense for us to lead the MBP2 project. A surprising result was best practices are not shared widely across the modeling and simulation community. To date we’ve seen some organizations who are probably performing at “best in class” in some areas, but don’t know they are at that level.”
Mr. Roemerman is the chairman of the MBP2 project, and also serves as the best practice lead in other professional and academic initiatives.
About the 2016 PNEC Conference
The 2016 PNEC Conferences' 20th International Conference on Petroleum Data Integration, Information and Data Management was a power-packed two and one half days of programming featuring in-depth technical presentations and full e-Proceedings on topics important to all involved in E&P data and information management. Speakers from around the globe shared real-world issues, best practices, developments, and cross discipline advances that address ever expanding and complex data demands in today’s oil and gas industry. Changes in key technologies require innovative thinking and practical solutions to implement quality data-driven decisions that meet enterprise-wide technical and financial interests when millions of invested dollars are at risk. The conference is acclaimed for facilitating professional discussions targeting today’s complex data systems integration and management with balance. To learn more visit PNEC Conferences.
About Lone Star
Lone Star Analysis provides trusted insights for customers in the technology, defense, aerospace, and energy industries. Executives with large financial responsibilities and important risk concerns rely on Lone Star, an internationally recognized company that spans the globe. Lone Star empowers organizations to make better choices in strategy, operating, maintenance, distribution, pricing, bidding, and buying.
Lone Star uses proprietary modeling software and processes to provide Enhanced Decision Analysis, blending information from across complex organizations. Lone Star customers get a transparent understanding of challenges that otherwise would be too tangled and filled with uncertainty. Complicated processes and organizations have hidden waste holding them back, and frustrating their people.
Merging knowledge and data from technical, financial, economic, behavioral, and operational disciplines, Lone Star illuminates where value is created and lost. Computer simulation of complex organizations and processes results in surprising savings. Customers report payback ratios of 20 to one, 100 to one, and even more.
Lone Star’s suite includes TruNavigator® a powerful model development environment and a family of supporting tools and processes. The company recently announced a new brand, AnalyticsOS℠, addressing the Internet of Things (IoT). AnalyticsOS℠ uses IoT data at the edge of the network, providing predictive and prescriptive analysis in real time. Click here for copy of Mr. Roemerman’s paper.