Let’s say you have been pumping oil on the same field for 30 years. Recently, you have noticed production seems to be slowing down, leading you to assume that the field is almost tapped out. What should you do in this case? Most operators decide to walk away by plugging and abandoning their aging wells, leaving more and more mature fields left to dry every year.
But what if you decided to stick around and see what else your field has to offer? Where would you even start?
Rapid reserves analysis can be possible with the right technical approach, technology, and processes. By following iStore’s five easy steps, you can possibly turn that brownfield back into a greenfield.
Take the time to prioritize your fields by focusing on the most important field factors: economic conditions, production decline, and field maturity. This step will help with your current field studies, as well as future field studies. It will save you both time and effort in the long run, as prioritizing your fields will help your team members identify which fields share reservoir characteristics and data sets.
You should rely on both your internal and external sources. Use your in-house engineers and geoscience experts to share their knowledge with outside consultants. Use contracting companies with on-demand knowledge on the matter to speed up the processes. Lastly, make sure you have a well-rounded team consisting of an engineer, geologist, geophysicist, and data management specialist.
Make sure you have access to all the technical data needed to evaluate your fields. Assembling the data can be difficult due to the fact that the data is typically stored in multiple databases across numerous entities. Luckily, with new technology processes, such as data aggregation and integration, you can easily speed up the data collection step.
Create a step-by-step approach, to be reused for future field studies. Begin by reviewing the geological framework, well logs and log analysis, PVT data, production history, and decline curve analysis. End by calculating volumetric original hydrocarbons in place to estimate recovery factors and remaining reserves.
A field study should provide a detailed action plan consisting of short-term and long-term opportunities. The short-term plan should identify profitable opportunities that can be implemented in 3 to 6 months, such as recompletions and workovers. The long-term plan should prioritize strategic activities consistent with your company’s business goals.
With iStore’s Quick Value Assessment (QVA®) field study solutions, your next field evaluation can be delivered faster and provide a clear, concise action plan for increasing production to extend the lives of your mature fields.