MMV: How Primary Vision is harnessing AI and innovation?

Artificial intelligence has become a cornerstone of innovation in the oil and gas industry, particularly within hydraulic fracturing. In the past decade, the U.S. has produced 60% more oil per day with 40% lesser workers. This has also been observed in the industry's productivity rates per annum which has has surpassed even those of online retailers, and are approximately seven times as large as those of the average U.S. business. For many oil producers, the breakeven cost has fallen to as low as $40. This integration has not only enhanced operational efficiency but also contributed to profitability and safety improvements, addressing some of the industry's most pressing challenges. As such, we thought to give our readers a short preview of how Primary Vision is harnessing AI and technology to provide our users with the best and up to date results.

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Since its inception, Primary Vision has demonstrated a commitment to leveraging cutting-edge technologies to transform complex data into valuable insights. A prime example of this innovation is the Frac Spread Count™ , a comprehensive tool developed using AI and statistical methodologies. The Frac Spread Count™ has become a critical resource for operators, offering real-time data on U.S. hydraulic fracturing activity. By capturing the number of active fracturing crews, it provides an accurate measure of industry activity and enables operators to make timely and informed decisions. Primary Vision’s expertise extends far beyond data monitoring. Its AI-driven models are underpinned by statistical methodologies such as ARIMA (Auto-Regressive Integrated Moving Average) and cross-validation techniques, ensuring accuracy and reliability in forecasting. These models can separate noise from data signals, a capability that proved invaluable during unprecedented events like the COVID-19 pandemic and the ERCOT weather disaster. By adapting its tools to account for these disruptions, Primary Vision showcased its ability to remain agile in the face of volatility.

AI is reshaping industry operations at large. Companies like Chevron and Exxon Mobil have employed AI to enhance predictive maintenance, optimize drilling operations, and reduce operational costs. For instance, Exxon Mobil’s deployment of AI-driven digital twins has significantly improved its ability to simulate and optimize field operations. In the Permian Basin, AI applications have enabled operators to maintain production levels while reducing the number of active rigs and labor costs, highlighting the scalability of AI solutions. Goldman Sachs has further predicted that AI could reduce the marginal incentive price of oil by up to $5 per barrel, a testament to its role in cost efficiency .

Source: Market US

Primary Vision’s contributions stand out due to their tailored approach to the fracturing sector. Beyond Frac Spread Count™, the company employs sophisticated algorithms to deliver forecasts tailored to specific basins, operators, and even weather-related contingencies. This granularity empowers clients to anticipate changes, optimize resources, and mitigate risks in real time. Moreover, Primary Vision's ability to combine AI with human expertise ensures that its models are continuously refined and aligned with evolving market conditions. The global impact of AI in hydraulic fracturing cannot be overstated. It has reduced environmental impacts by optimizing water usage and proppant deployment, addressing regulatory concerns, and improving the sustainability of operations. Primary Vision’s focus on consumables, such as chemicals and proppants, aligns with this trend, as its data-driven insights help clients minimize waste and maximize returns. In addition to its contributions to the energy sector, Primary Vision has expanded its AI capabilities to broader applications, including diagnostic tools for neurological disorders and intelligent agents for financial KPIs. These initiatives reflect a forward-thinking ethos and a commitment to harnessing AI for diverse, impactful applications.

AI’s potential to revolutionize hydraulic fracturing is immense, and companies like Primary Vision are leading the charge. By offering unparalleled insights, advanced forecasting tools, and an unwavering commitment to data accuracy, Primary Vision enables its clients to navigate the complexities of the energy sector with confidence. As the industry continues to embrace AI, Primary Vision’s pioneering work will remain a benchmark for innovation and excellence.