BetaZi creates state-of-the-art production forecasting solutions for the Oil & Gas Industry using physics-based predictive analytics. BetaZi has been vetting its new science and providing meaningful intelligence to producers and financiers since 2012. Having modeled every well in the USA and Canada as well as many fields around the world, we know that our automatic results are accurate and useful for decision makers from the oil patch to the board room. Using cutting-edge technology, BetaZi helps clients make confident, profitable decisions for their assets in record time.
Trillions of dollars are invested and traded annually based on forecasts of the future production of oil and gas wells. Reliable forecasts are therefore of critical importance to everyone whose bottom line depends on the production of wells. Operators need to be able to make accurate short and long term volume forecasts and reserve estimates. Ideally they would have the ability to set automatic alarms to warn them when production falls below projected thresholds. They also need to know when putting new money into a project is going to be worthwhile. Investors need to understand what the assets they are buying are going to be worth in the future in order to deploy capital wisely. E & P companies need to accurately value their assets so as to buy and sell at the right price. Royalty owners need to monitor the operators of their investments and have realistic expectations. Lenders must evaluate risk.
BetaZi technology brings reliability, transparency and efficiency to a number of industry sectors. In every case, accurate forecasts translate into hard cash. For operators, BetaZi gives firm production targets. A well which produces below its BetaZi p90 bound is a well that is producing below its potential. Either there is a problem that needs to be fixed or the well should be re-evaluated.
The BetaZi top bound (p10) gives engineers a reliable metric against which to measure the efficacy of well treatments and stimulations. It also frees them from the task of setting decline curves, allowing them to focus on the higher-level critical reasoning and decision making for which they are trained and compensated. BetaZi can also be used to estimate the future effects of stimulation or EOR; to generate statistical Type Curves; and, when customized, to solve any number of specific, complicated problems.
For those who invest, BetaZi forecasts can be used to manage cash flow, to accurately value assets, to assure due diligence in acquisitions and divestitures, to perform risk analysis, to optimize portfolios, and to monitor royalty assets.
BetaZi is a long-overdue technology, though arguably one that is only now possible with the advent of sophisticated statistical models and fast computers. Oil and Gas companies understand that there is value in collecting vast amounts of data, but they do not necessarily know exactly what to do with it yet. BetaZi is a marriage of knowledge (in the form of physics) with experience (made possible through big data pattern analysis) solving the problem of being able to make fast, accurate, unbiased and automatic production forecasts.
Intro to Market
BetaZi is a bridge product, fully egalitarian with regard to the source of data input or output. This flexibility was designed into BetaZi to facilitate integration with existing software applications in which companies are already heavily invested and with which they are familiar. BetaZi is able to integrate right away with almost any set of products a customer is currently using for data storage or analysis, providing a level of forecasting accuracy that would be impossible otherwise.
Though BetaZi is in many ways a disruptive technology versus current methods, we understand the importance of systems continuity and do not regard other companies as competitors. We look to form alliances with engineering professionals and leading corporate players.
Our strategy at this point in our development is to partner with existing providers of data solutions for the oil and gas industry who are able to offer not only convenient data management tools and a strong user interface, but to deliver their existing, well-understood customer base too. To this end we are actively negotiating a number of contracts targeting different market sectors, with the aim of bringing BetaZi technology to users worldwide through multiple channels and as quickly as possible.
BetaZi LLC was organized in 2012. Its research and business offices are in Truckee, California, with sales offices in Houston and New York. The company is a Delaware LLC and has been funded to date through private investment.
The push is on for big data collection. Yet few if any oil and gas software programs on the market today use the data gathered to achieve actionable results. Analytics is the discovery and communication of meaningful patterns in data. For once it is possible to ask: “What do we not know that we need to know?” and be offered a useable answer in response. BetaZi gives you the ability to see patterns that matter from both an engineering and financial viewpoint.