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Transforming Regulatory Data into Industry Insights with Full Text Search

In this video, Evan Anderson discusses Oseberg’s focus on leveraging data within the oil and gas industry, particularly in New Mexico. He emphasizes the significance of regulatory and courthouse data sets, highlighting their crucial role in connecting courthouse data to production operations.
While various companies concentrate on operational data like permits, drilling, well completion, and fracking, Oseberg’s unique approach revolves around regulatory data. Evan explains the importance of regulatory data in associating acreage obtained through leases with production.
He underscores that without the regulatory component, acreages cannot be linked to leases, leading to a lack of reserve assignments. Evan describes how Oseberg extracts data from documents using OCR technology and image enhancement to ensure high-quality text recognition.
The company then uses hotkeys to rapidly parse and extract relevant information from these documents, eventually creating structured data. This structured data is showcased within Oseberg’s product interface, allowing users to filter and analyze information related to various aspects of the industry, such as spacing, pooling, and orders.
Evan demonstrates how users can visualize and export this data, making it readily usable for further analysis. He also emphasizes Oseberg’s ability to provide valuable insights through their unique data sets and encourages viewers to explore these data sources to create value within their organizations.
Overall, the video provides insights into Oseberg’s innovative approach to data extraction and analysis within the oil and gas sector, highlighting the potential benefits of their services for industry professionals.