GeoPredict is a developer of a geospatial machine learning platform designed for rare earth mineral resource discovery, focused on electric car battery materials. The company's platform uses machine learning and historical data to help evaluate accurate acreage, enabling miners to make better exploration decisions, improve the odds of finding viable deposits and avoid wastefulness.
GeoPredict is dedicated to providing mineral owners with competitive offers and fast transaction times.
Part of GeoPredict's evaluation platform includes the valuation of mineral rights. They primarily base the value of minerals on the timing of drilling. They also consider the history of any drilling performance in a region.
Expected Ultimate Recovery (EUR)
Expected ultimate recovery (EUR), is GeoSpatial's estimate for the amount of recoverable oil and gas out of a real estate plot. Total EUR is determined as EUR per well times number of wells expected in the unit. Per well EUR is determined based on the performance of existing nearby wells in the same target rock formation. Number of wells expected in the unit is determined based on the unitization characteristic for that target rock formation.
The final evaluation of minerals is determined by taking the total EUR, multiplying it by the net revenue interest of the acreage, and discounting it at a 10% rate based on GeoSpatial's best estimate of timing to drilling.