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Tachyus, which offers production optimization software to the oil and gas industry, is partnering with Texas A&M University (TAMU) Dept. of Petroleum Engineering to provide new technology for students, faculty and researchers.
Through the partnership, graduate and PhD students within the petroleum engineering department at TAMU will have access to the Tachyus’ platform, which provides a digital transformation, proprietary modeling and optimization techniques that combines machine learning with reservoir physics. Several of the apps are designed to model and optimize EOR processes including waterflooding and CO2 flooding. They allow the prediction of thousands of outcomes in a matter of minutes which allow reservoir engineers to increase production by an average of 10% and cut operating costs by over 40%. Other apps are designed for oil and gas production optimization, such as surface and subsurface back allocation, decline curve analysis and the analysis of optimal infill drilling locations. Each of these apps allow users to increase production, increase recoverable reserves and to improve efficiency.
This technology will be available to assist and provide predictive analytics and insights in research assignments and allow for intelligent data management that delivers precise and comprehensive reporting. With this first-of-its-kind partnership, students will be empowered to experiment within the platform and familiarize themselves with its real-world applications.
“Tachyus enables engineers, and now our students, to explore production optimization scenarios and recognize optimal operational and development plans resulting in significant cost reductions, production increases and ready-to-use injection strategies,” said Dr. Jeff Spath, Department Head Chair in Petroleum Engineering at Texas A&M University in a press release. “Ultimately this exposure to real data solutions and forecasting models will further our student’s value, experience and knowledge as they enter the working world. As the oil and gas industry faces unprecedented difficulties, we look forward to our relationship with Tachyus to drive the upstream space into new possibilities.”
The partnership will be ongoing. Tachyus will work closely with students to identify their specific needs and will then provide a specific TachApp solution to be utilized whether they are looking for waterflood management, probabilistic decline curve analysis, shale optimization, etc.