Over the course of 80 years, more than 1.8 billion barrels of oil equivalent have been produced on a 45,000 acre field. With almost 1,000 wells total, about 75% of the wells have been shut in or plugged and abandoned, leaving just 25% of the wells active.
Perhaps you could review and evaluate the reserves potential of this aging field using iStore’s Quick Value Assessment (QVA®) software and technical services. This is exactly what a National Oil Company (NOC) decided to do, and the results were eye-opening!
In just a few months, iStore’s team of engineers, geologists, geophysicists, petrophysicists, and data managers applied their QVA software and services, which resulted in some very important and insightful observations. At the end of the study, producers found that the main producing formation still had a large amount of remaining bypassed reserves, with over 350 of the shut in wells identified for recompletion opportunities. The use of horizontal producing and injection wells was identified to improve reservoir performance in many of the wells. The field also had shallower formations that were identified for testing to determine their productive capabilities. In addition, they found that water injection and hydraulic fracturing with proppants could recover oil from different sections of the reservoir to increase oil production. Since they also found that the productive limits of the field were much larger than originally estimated, the possibility of more exploration opportunities arose!
The NOC decided to take action to increase production. They began by scheduling a review of over 350 wells with unperforated behind pipe net pay. They also established a recompletion opportunities program for the identified wells in order to increase oil production. Drilling new wells was also a necessity. New wells were scheduled to be drilled to test the potential of the shallower formation. Drilling step out wells was needed to extend the producing limits of the field. New studies and programs were created to conduct production tests and reservoir pressure tests to assist with determining the current reservoir pressure and the remaining reserves in the field.
iStore’s QVA software and services were able to quickly identify possible production potential in a field that might have been on its way to retirement. By implementing QVA, the NOC was able to identify numerous possibilities for improvement, giving the team an entirely new outlook on mature fields.