24 Jul, 2019, 15:47 ET
HOUSTON and DENVER, July 24, 2019 /PRNewswire/ -- OAG Analytics ("OAG"), an expert in machine learning and artificial intelligence (AI) in the oil and gas industry, today announced a multi-year strategic partnership with Cimarex Energy Co.
Cimarex Chairman, President and Chief Executive Officer, Tom Jorden, said, "This innovative partnership is designed to combine OAG's machine learning and data analytics capabilities with Cimarex's detailed engineering approach and rigorous focus on investment returns."
OAG's software combines reservoir physics with AI and best of breed machine learning techniques to improve drill unit economics as a function of rock properties, completion design, well spacing, and drill timing. OAG's AI platform is being successfully applied to more than three million acres throughout major shale basins, including the Permian, Eagle Ford, Bakken, Anadarko, Utica, Marcellus, and Haynesville.
Luther Birdzell, OAG Founder and CEO said, "OAG is honored to be part of this important Cimarex initiative. We are proud of the insights the joint team achieved in the first year of this strategic partnership. OAG recently added the ability for customers to add their own proprietary Apps and are thrilled to have Cimarex as our first customer to deploy proprietary IP on the OAG AI platform."
About OAG Analytics
OAG Analytics, headquartered in Houston, provides field development software for upstream oil and gas with applications for de-risking the subsurface, well spacing optimization, and production surveillance & predictive maintenance. OAG is hosted on Amazon Web Services (AWS) and is a TIBCO Spotfire Technology Partner.
About Cimarex Energy
Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company with principal operations in the Permian Basin and Mid-Continent areas of the U.S.
SOURCE OAG Analytics
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