The Completion Optimization workflow can be used for any completion.
What is it?
The workflow is used to come to key business decisions. The flow starts by selecting the data to load into PetroVisor to run Completion Optimization. After the load, PetroVisor computes its Key Performance Indicators. Our clients then select a training data set. This data set might be a single formation or have geographic boundaries. After the selection, the PetroVisor team trains and calibrates ML and MVR models. The models work to create an evaluation matrix with potential completion designs. The final step is a visualization that helps clients best optimize completion.
How does it work?
Using multiple data sources, PetroVisor combines complex data analytics and sophisticated economic modeling processes.
What is the Completion Optimization Workflow?
The PetroVisor Completion Optimization workflow has 7 main components:
1. Load Data
Data, such as Production / Flowback, Completion, & Costs, is loaded into PetroVisor.
2. Compute KPIs
These are PetroVisor KPIs that become the inputs for MVR / ML & QA / QC.
3. Choose Training Dataset
Clients select datasets such as geographic limits, formation or zone limits
4. Train MVR / ML Models
PetroVisor uses MVR and ML to predict the best production and well cost models.
5. Calibrate Economic Models
Thousands of models are run to visualize a range of completion, geologic, and parent / child situations.
6. Evaluation Matrix
Each permutation in the Evaluation Matrix computes 40-yr monthly cash flow analysis and retains ROR, NPVs, EUR, costs, etc.
7. Visualize / Interpret Results
Using visualizations, understand both optimal and near-optimal designs
These steps are often repeated for different training data sets.