Kenneth Land fondly reminiscences the founding of Neuralog, “It all started over dinner with a friend’s father who was an Oil & Gas ‘Wildcatter’needing to calculate important indicators of hydrocarbons from old well logs.” Land was doing work for NASA using Neural Networks, a machine learning and AI technology, and surmised it could be trained to create new indicators for well logs. “We thought it was such a good idea we formed Neuralog—Neura from Neural Networks and Log from Well Log,” remarks Land. To begin, the new company needed well log data in the computer to train the neural networks but well logs were almost exclusively on paper and cost $400 each to digitize. To address the issue, Neuralog began training neural networks to “trace” or convert scanned images of the well log graphs and saved the $400. “It worked so well that our first product, NeuraLog, was born and has garnered an estimated $70M in lifetime sales,” extols Land, who also leads the company as President/CTO.

NeuraLog and NeuraScanner not only digitize paper-based well logs into usable digital data, but also automate the entire digitization process. “More than 70 million well logs have now been scanned with the NeuraScanner, and many have been digitized using NeuraLog,” says Land. “The cost of digitizing a single well log went from $400 to $40 because of our technology.”

From log and map scanning, digitizing and printing, to organizing, analyzing, managing data, and getting answers about hydrocarbon reserves, Neuralog offers varied solutions to fit different needs at every stage.Their tools have always been focused on helping the industry reduce cost through innovative technology. For instance, many companies are spending millions of dollars on big data management projects that never reach their goals and re-purchasing data they already own. In order to avoid this waste and reduce costs, Neuralog Desktop, an inexpensive data organization, access, and visualization application is helping companies save time and money.

I am excited that the downturn is prompting so many companies to seek low cost alternatives like ours that can help them discover opportunities and generate revenue

This tool quickly organizes data, reducing time spent managing data and allowing companies to repurpose those resources.

In addition, Neuralog’s NeuraSection solution is a geological interpretation package which allows organizations to evaluate and display all available geological datafor visualizing, analyzing and creating logs, maps, and cross sections.

One of their clients, R. Lacy Services, had an abundance of legacy data, making it hard to access the right information. The NeuraScanner was used to scan and preserve over 3,000 logs, many of which were fading and falling apart. AFEs and other critical reports were captured with office scanners and made accessible. Neuralog Desktop provided organization, access, and visualization of the E&P data. With Desktop, the client can see where they have data, access it from a single source, and share it electronically so that the whole team is “on the same page” in real-time. Information and documents continue to be added, enabling the consolidation of paper files.

“Like everyone in the industry, I’m looking forward to the rise of oil and gas prices, but at the same time I am excited that the downturn is prompting so many companies to seek low cost alternatives like ours that can help them discover opportunities and generate revenue,” says Land. “I see this benefiting our growth tremendously as the market recovers with a more cost-conscious customer base. This is a world where Neuralog’s vision, strategy, and offerings thrive.”