Case Studies

European Operator in 220 very mature fields with over 10,000 wells shut-in waiting for potential abandonment. Each well was evaluated for re-activation via workover 3-4 times per year via labor-intensive and time consuming well by well reviews.

PetroVisor™ was implemented to initially screen 500 wells for reactivation opportunities. The system integrated over 40 databases (including geologic, petroleum engineering, and reservoir engineering) and artificial intelligence was implemented to propose and evaluate new opportunities each day.

• CapEx efficiency increased by 77% within 2 years (up to 100% within 4 years)
• NPV targets were achieved in spite of oil prices declining by 50%
• The percentage of reactivated shut-in wells increased from 0% to 30% in some fields allowing the operator to defer new well drilling
• Additional solution capabilities & features were added each year
• 200,000 workover candidates were identified and evaluated

Situation: Most reservoirs are produced by identifying the most attractive pay zones from well logs.

Challenge: In some cases, the best pay zone may not be selected due to production engineer error or inability to evaluate multiple sets of data simultaneously.

PetroVisor Solution: PetroVisor integrated historical production performance and well log data and leveraged feature extraction and machine learning techniques to identify the correlation between lithofacies and production performance.

Value Generated: Best pay zones and optimal completion techniques were identified elevating the performance of customer wells above the competition in the same basin and reservoir.

Customers:

• South American NOC
• Canadian CHOPS Operator

Situation: Authorities require detailed reports for steam injection operations requiring operators to install observation wells and tiltmeters to prove cap rock integrity and avoidance of environmental damages.

Challenge: Operators spend a considerable amount of time to produce these reports by pulling data from databases, spreadsheets, and PowerPoint presentations.

PetroVisor Solution: PetroVisor integrated all production and observation well data in an interactive dashboard where authority reports are generated automatically.

Value Generated: Significant time savings was realized allowing engineers to spend more time on productive work such as identifying potential well problems earlier.

Customers:

• European NOC
• Numerous smaller operators

Situation: Producing wells may underperform their potential driven by a variety of issues that can be resolved by workover. Additionally, shut-in wells may be viable producers once re-activated via workover.

Challenge: Production engineers are tasked with monitoring and analyzing hundreds of wells on a daily basis. This work is not typically automated and leads to time-consuming well-by-well reviews which can result in the best workover candidates being overlooked and suboptimal workover investments.

PetroVisor Solution: With PetroVisor, the entire workover candidate screening workflow was automated, including KPI calculations, data analytics, problem detection, cost and risk estimation, NPV calculation and ranking of workover opportunities. This built a knowledge base for improved decision making.

Customers & Value Generated:

• European NOC – 77% increase in capex efficiency within 2 years while man-hours conducting well reviews declined by 85%
• Middle Eastern NOC – Annual workover program capex reduction of $7.2MM (17%) and NPV improvement of $988MM (34%)

Situation: Field development planning include the drilling of new wells as well as the evaluation of side-track and re-stimulation opportunities.

Challenge: With thousands of opportunities to evaluate, production engineers are not able to analyze every opportunity resulting in the best development options being overlooked and poor returns on investment.

PetroVisor Solution: With PetroVisor, the entire well placement optimization workflow was automated, including KPI calculations, data analytics, problem detection, cost and risk estimation, NPV calculation and ranking of development opportunities. This built a knowledge base for improved decision making.

Customer & Value Generated:

• Middle Eastern NOC – Annual development program capex reduction of $15.4MM (34%) and NPV improvement of $751MM (34%)