Cenovus Energy Inc.

Seyide Hunyinbo

Amos Ben-Zvi

Prince Azom

Juliana Y Leung

A method and apparatus for forecasting oil production from an oil well in a geological formation includes receiving a plurality of sets of predicted geological data, for each of the plurality of sets of predicted geological data, determining a probability for the predicted geological data of the formation, iteratively selecting one of the plurality of sets of predicted geological data using Monte Carlo sampling based on the determined probabilities, assigning the selected set of predicted geological data to a cluster of historical data, and for each set of historical data of the cluster generating a predicted oil production rate as a function of time utilizing a machine learning based oil model, generating, based on the predicted oil production rates, a forecasted oil production rate, determining, based on the forecasted oil production rate, a preferred operating parameter for the well, and operating based on the preferred operating parameter.

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Calgary, Canada

Seyide Hunyinbo