Oil and Gas Production Optimization

In American Oil & Gas Reporter magazine’s March 2021 Sneak Peek Preview, Lone Star’s CEO Steve Roemerman was interviewed for Colter Cookson’s article “Production Optimization: Proven Chemistries And Emerging Insights Score Production Points.” Steve shared his insights on when and how machine learning can help oil and gas producers minimize unplanned downtime and operating costs for their ESPs, compressors, and other artificial lift equipment.

To thrive in a tough environment, oil and gas producers often draw on the same characteristics that allow professional basketball players to succeed on the court. They put in the time to master essential skills, have the situational awareness and agility to adapt quickly to unusual events, and work with others to unlock their assets’ full potential.

And like the general managers who must decide whether to pay a star’s salary or develop promising young talent, producers must always consider economics. To meet the world’s continuing need for oil and natural gas while maintaining strong balance sheets, they are looking for ways to increase their artificial lift systems’ reliability and efficiency.

Read the full article here.

While you’re here, check out our MaxUp Energy – ESP Asset Analytics software and learn how the application helped one producer recover an incremental $684,000 annually (@ $25 / barrel oil) per 1,000 BOE produced per day and extend ESP mean time between failures by months.

The original article is posted on American Oil & Gas Reporter.