|Theme||Visible||Selectable||Appearance||Zoom Range (now: 0)|
The difficulty in applying traditional reservoir-simulation and -modeling techniques for unconventional-reservoir forecasting is often related to the systematic time variations in production-decline rates. This paper proposes a nonparametric statistical approach to resolve this difficulty. In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
Decisions in E&P ventures are affected by Bias, Blindness, and Illusions (BBI) which permeate our analyses, interpretations and decisions. This one-day course examines the influence of these cognitive pitfalls and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions refer to misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders. Examples are provided including corporate, business unit and department case studies. This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.
The current presentation date and time shown is a TENTATIVE schedule. The final/confirmed presentation schedule will be notified/available middle of October 2019. If we have learned anything from the North American experience, unconventional resources cannot be exploited by small incremental projects. If we are to be successful in developing these types of reservoirs, we have to make project scale operations work to bring these resources to market in a timely manner. A number of Eastern Hemisphere unconventional gas projects have raised interest, neared completion or are commencing deliveries.
The combination will operate and share ownership of midstream gas assets in the Utica and Marcellus Shale plays. CPPIB financially backs operator Encino Energy, which last year acquired Chesapeake Energy’s Utica assets. The high level of dissolved iron commonly present in the Marcellus waters of Pennsylvania and West Virginia adversely affects the ability of scale inhibitor to inhibit calcium carbonate scale.
A producer in the Marcellus Basin selected Edge Gathering Virtual Pipelines 2 to capture and liquefy gas from its stranded wells in Tioga County. Initial operation is underway and is set to be ongoing until at least 2022. Researchers at Texas Tech University have released a study into wastewater production and disposal in the Marcellus Shale, proposing disposal hubs across the state of Pennsylvania that could reduce trucking distances. As part of a revised strategic plan, the Spanish company says it will invest more than $9 billion on its overall operations by 2020, with much of it going to its upstream business unit. Predictive models may help in the estimation of produced water volumes and the optimization of the locations for water recycling and disposal facilities to reduce truck hauling distances.
Oil and gas companies are awash with data. Engineers and geoscientists struggle to work with massive amounts of unstructured, yet valuable, data because it is not organized, is difficult to manage, and may not be complete. New work flows now allow this data to be organized successfully. Greg Leveille said he is optimistic that the shale sector will be able to bounce back from its second downturn in 5 years. The trick this time, he says, will be not just investing in new digital technologies but putting them to work. While the façade painted by IIoT and data-driven processes is one of an environment that is heavily guided by computers, it actually calls for an evolved workforce that is able to use the data to enhance design and decision-making skills. For years, the oil and gas industry has stored its seismic data on tape. While that had been the best format for the time, it wasn’t very efficient.
The sale of the Appalachia position is in line with Shell’s strategy to focus on its shales strategy. The combination will operate and share ownership of midstream gas assets in the Utica and Marcellus Shale plays. CPPIB financially backs operator Encino Energy, which last year acquired Chesapeake Energy’s Utica assets.
The new numbers for the Marcellus Shale and Point Pleasant-Utica Shale represent large increases from previous USGS assessments of both formations. Production and proved reserves in the Permian Basin’s Wolfcamp Shale and Bone Spring Formation are reaching new heights, and a new assessment from the US Geological Survey indicates the industry is just scratching the subsurface when it comes to what may be technically recoverable. Major oil discoveries by Armstrong Oil & Gas and ConocoPhillips have compelled the US Department of the Interior to reassess its estimate of undiscovered, technically recoverable resources in parts of Alaska. The list of the biggest gas plays in the US is being revised as the US Geological Survey creates new estimates based on additional drilling results and available rock samples. New at Number 2 is the Mancos Shale on the Western Slope of the Rockies with 66 Tcf in recoverable reserves.
Big-data mining techniques can help determe the type-curves and the resulting estimated ultimate recovery of an asset being evaluated for acquisition. In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well. In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.