The Challenge: Robust, Sound Information in a Timely Manner
The investment analysis required for either acquiring or developing unconventional assets includes oil and gas portfolio management, budgeting, planning and reserves analysis expertise. Within a typical operator three groups carry analysis responsibility—data analytics, engineering and geologic analysis and economics. Most often they are not in the same department, nor is there a unified workflow to guide daily collaboration and interaction. Silos result, and intermediate results are often focused on only one end-user, either the geologist, completions engineer, asset manager or the investor. This presents
a problem when quick, accurate results are needed to determine the next step in the life-cycle of an asset from a technology, optimization or investment perspective. PetroVisor resolves this challenge by providing a single source of truth in a collaborative environment.
A common deficiency in unconventional asset optimization is the lack of physics-based modeling in the workflow. Traditionally, physics- based reservoir models take too long to build and execute to be useful in time-critical workflows. It often takes months to build, history match and produce production forecasts for a variety of completion and lateral spacing designs. The complexity is increased in horizontal wells that are drilled through layered formations with numerous frac stages. Companies considering an acquisition may only have data room access for 30 days, which means that reservoir modeling must be executed quickly. Asset planning or budgeting often requires information on most recent well performance to deliver an optimized drilling and completion plan in the required timeframe.