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. 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.
This paper presents an analysis of a CO2-foam-injection pilot in the Salt Creek Field, Natrona County, Wyoming. A carbon-dioxide (CO2) -foam enhanced-oil-recovery (EOR) pilot research program has been initiated to advance the technology of CO2 foam for mobility control in a heterogeneous carbonate reservoir. Aqueous foam has been demonstrated to have promise in conformance-control applications. This paper explores the foaming behavior of a CO2-soluble, cationic, amine-based surfactant.
The Powder River Basin has emerged over the past year as the latest source of oil production growth for the Lower 48. Companies ranging from a reborn Samson Resources to US onshore mainstays Devon, Chesapeake, and EOG are now betting on the basin to become a long-term core asset. Colorado’s industry lacks the size, variety, and Wild West characteristics of Texas, but that is precisely why the Centennial State’s oil production is surging to record levels. This paper describes a comprehensive field study of eight horizontal wells deployed in the stacked Niobrara and Codell reservoirs in the Wattenberg Field (Denver-Julesburg Basin).
If you can see it, then maybe you can control it. This sums up the latest quest that the unconventional engineering community embarked upon to get a better understanding of proper well spacing and how fractures really interact. Devon Energy will be getting simpler and smaller by selling two no-growth assets—gas acreage in the Barnett Shale in Texas and oil sand operations in Canada. Its future is staked on growing oil production in the Permian’s Delaware Basin and three other unconventional oil plays. The struggle to overcome the challenge of frac hits has led to a critical dialogue about which pathway the shale sector should take.
Achieving high hydrocarbon recovery is challenging in unconventional tight and shale reservoirs. Although EOR/EGR processes could potentially improve the recovery factor beyond the primary depletion, large-scale field application of these processes are not yet established in these reservoirs. This session will focus on the latest research trends, modelling and experimental work to better understand issues involved in improved economic recovery from such reservoirs.
The shale sector is studying the results of a 23-well experiment in the southeastern corner of New Mexico to learn what the wider implications might be. Researchers from the Federal Reserve Bank of Dallas quantified the economic impact of the US shale revolution for the first half of this decade. The green light for Santos Energy’s drilling program in the McArthur Basin comes after a moratorium on hydraulic fracturing in the Northern Territory was lifted in 2018. Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data. Permian Basin operators and service companies met to discuss completions diagnostics, flowback strategies, water management, and artificial lift strategies.
The strategy supports the Maximise Economic Recovery from UK Oil & Gas Strategy and Vision 2035, whose goal is to achieve £140 billion additional gross revenue from UKCS production by that time. The projects are designed to reduce technical risks in enhanced oil recovery and expand application of EOR methods in conventional and unconventional reservoirs. In recent years, some effort has been made to use EOR techniques, particularly CO2 injection, to extract additional oil and gas from unconventional resources. This has the potential to change the dynamics (again) of oil production from these tight and difficult reservoirs. One of my best moments is to have made the technical case for polymer flooding and to see the fruits of this several decades later.
Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data. The projects are designed to reduce technical risks in enhanced oil recovery and expand application of EOR methods in conventional and unconventional reservoirs. Twelve organizations—universities and private technology companies—will conduct research and development on emerging shale plays and technologies covering everything from digital pressure-sensing to smart microchip proppant. The evolution of hydraulic fracturing is a long and circuitous one that deserves examination. Engineering and completions leaders from Liberty Oilfield Services did just that, authoring a paper that encapsulates the high points in the development of the groundbreaking completions practice.
This paper highlights the results of a test campaign for a tool designed to predict the short-term trends of energy-efficiency indices and optimal management of a production plant. In recent years, some effort has been made to use EOR techniques, particularly CO2 injection, to extract additional oil and gas from unconventional resources. This has the potential to change the dynamics (again) of oil production from these tight and difficult reservoirs. In my previous features, I discussed the challenges facing carbon dioxide (CO2), both technical and economic. By far the biggest use of CO2 is in enhanced oil recovery (EOR).