GLJ Acquires Verdazo’s Machine Learning Technology & Consulting Practice
GLJ Petroleum Consultants has acquired the machine learning technology, software and consulting practice from Verdazo Analytics. Verdazo will continue to focus on its Business Intelligence software and services, and support clients by serving up machine-learning-ready data.
In a recent partnership with GLJ on the Spirit River Machine Learning Study, it became increasingly evident that the need for consistent regional geoscience analysis was a challenge for most producers, particularly given staff reductions in a challenging commodity market. GLJ is well equipped to support companies who need a depth and breadth of geotechnical expertise to integrate into their reserves, development and completion optimization efforts.
“The biggest opportunity in the industry to leverage machine learning is also its greatest obstacle… you need consistent regional geological interpretations to take advantage of machine learning’s ability to build understanding and inform completion optimization opportunities.” said Bertrand Groulx, President of Verdazo Analytics. “The breadth and depth of GLJ’s engineering and geotechnical expertise can really help companies accelerate new insights and capital efficiencies.”
“Acquiring the machine learning software and methodologies from Verdazo gives GLJ a head start in incorporating machine learning technology into our reserves workflow, fully considering the impact that geology, reservoir and completions collectively have on production performance. We look forward to working with our clients to fuel the best possible decisions in a challenging economic climate.” said Jodi Anhorn, GLJ’s Executive Vice President and COO.
Verdazo will be providing resources to GLJ in the coming months to facilitate the technology transition and assist in on-going client activities. Verdazo will continue to focus its efforts on evolving its visual analytics, dashboarding and notification abilities of its core Business Intelligence offering with its expanding software and business analyst team. Verdazo will continue to partner with GLJ to ensure the long-term success of our clients.