The following presentations were delivered at the SPE Calgary Section in a series entitled “The Breakfast Club”
Wolf of Wall Street
Using Reservoir Engineering Insight to Guide Oil and Gas Investment Decisions.
Presented by David Anderson,Director, November 3, 2016
Abstract. Ever wonder why some operators seem to consistently perform better than others? Does it make you nervous to spend millions of dollars drilling, completing and stimulating wells without being able to predict how they will perform, much better than simply rolling the dice? These and other similar questions are not always front and center in the investment community, but are critical to profitability in the oil patch. The answers are elusive, but to even get close requires some insight into the reservoir and what drives production. There is a sea of oil and gas data that is used to generate research reports and investor materials. Conclusions that are reached from analyzing this data may appear logical, but are often incorrect. This presentation focuses on using reservoir engineering insight to sort through the noise, identify common fallacies and find hidden gems using publically available oil and gas data. Topics to be presented include:
- Robbing PDP to pay PUD: The impact of infill drilling on reserves bookings
- If you torture data enough it will confess to anything: The peak rate fallacy, false causality and statistics 101
- Unrealized potential: Using reservoir insight to find hidden upside
The Odd Couple
Petrophysicists & Completions Engineers Working Together to Better Predict Fracture Properties. Presented by Adam Staruiala , MSc, G.I.T,. November 10, 2016
Abstract. Understanding how a specific completion and treatment design will interact with a specific reservoir is a critical step in achieving an optimized field development program. This cannot be done without a close coupling of petrophysics and fracture modeling. Unfortunately, the role of the geoscientist and completion engineer are often siloed in the oil and gas business. Hydraulic fracture modeling is often performed by completion engineers without understanding the underlying geology. This presentation focuses on building an integrated workflow, combining geoscience and hydraulic fracturing disciplines, whose purpose is to characterize the fracture system created by the completion. Once the fracture system and its effectiveness is understood in a practical way, field development can then be optimized for the next generation of wells drilled.
How Rate Transient Analysis Has Revolutionized Our Understanding of Unconventional Reservoirs. Presented by John Thompson, Senior Reservoir Engineer, November 17, 2016
Abstract. For decades, RTA has been used by reservoir engineers to understand well performance drivers and quantify reserves. More recently, RTA has firmly established itself as a core component of an integrated reservoir study. The reason for this is simple: when coupling its results with those from other subsurface sciences, RTA has been repeatedly demonstrated to greatly reduce uncertainty surrounding reservoir and fracture properties; properties which must be understood to optimize a field development program. This presentation demonstrates the latest applications of RTA, by itself and as part of an integrated workflow. Case studies featuring examples from the Bone Spring, Spraberry, Wolfcamp, Meramec, Cardium and Montney are showcased.
Edge of Tomorrow
How New Technology Will Drive the Oil and Gas Industry Forward.
Presented by David Anderson, Director, November 24, 2016
Abstract. Technology has delayed the once -considered-inevitable “peak oil” and its subsequent decline, allowing the commercialization of oil and gas resources that were previously thought to be unrecoverable. This, of course enabled the shale boom in North America, leading to oversupply and ultimately contributing to the collapse of the global oil market. So, has technology brought us from $120 to $40 oil? In a way, yes, but technology will also pave the way for an abundant and inexpensive supply of hydrocarbons many years into the future, which is good for everyone. Completions technology has been and will continue to be at the forefront of this trend, enabling an more efficient, predictable and scalable connection between the wellbore and the reservoir. This presentation focuses on evolving completion technology and how it will benefit the oilfields of the future. Topics to be presented include:
- Maximizing ultimate recovery in low-permeability reservoirs
- Fit-for-purpose well design and completion: Getting the most from every reservoir
- Continuous pinpoint surveillance during fracturing, flowback, and production operations
- Scalability and predictability of completions: Achieving a more reliable prediction of well performance