PetroVisor App : Completion Optimization

Completion Optimization

Optimize the completion design using ML/MVR to achieve the economic measure of your choice. The Completion Optimization App can be used for any completion but is exceptionally well-suited for horizontal hydraulically fractured wells in tight rock formations.

 

Completion Optimization

Optimization of completion designs in horizontal hydraulically fractured wells in tight rock is a difficult challenge. A complex multi-variable method is necessary due to the various completion factors and uncertainty in the hydraulic fracture size and reservoir characteristics. The analysis is very time intensive with separate and disconnected tools and needed skill sets, frequently resulting in a lack of desired technological sophistication and "optimal" solutions with overly simplified economic analyses.

PetroVisor addresses this issue by integrating all necessary production, completion, reservoir, and accounting data with advanced multi-variable and economic processes in a single automated app. Using powerful multi-discipline data analytics, engineering, and economic techniques, users may rapidly analyze a very large matrix of potential completion designs with this app.

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A Simplified Approach to Completion Optimization

1
Connect

to all disparate data sources regardless of type or location

2
Characterize

all related data in a single, unified data layer for consistent answers

3
Consume

data and analytics in real-time with machine learning

App Workflows & Features

Calculate numerous production-based Key Performance Indicators including IP90, IP365, production-based primary phase determination, recent secondary phase yields, etc.

When geologic data is available, calculate numerous reservoir-based Key Performance Indicators including landing zone %-tile, net pay, porosity, porosity-thickness, etc.

Forecast 40-year individual-well monthly production for all producing phases on all wells with a multi-pass, rule & regression-based workflow.  Utilize the 3-parameter hyperbolic equation (Arp’s) with an exponential tail with numerous user-defined guides that can be area and formation-dependent.  Includes gap, rework, and outlier detection and handling. Forecasts are easily edited in a dynamic interactive editing window which also allows additional decline segments to be imposed.

Create non-overlapping closed polygons around each well encompassing the acreage closer to that well than any offsets. This process generates a first pass estimate of drainage areas, lateral/well spacings at the time the well began to produce, lateral/well spacing as of today, and a great mapping feature that can be color-filled with any signal in PetroVisor.

 

Voronoi Polygons

 

Use ML and/or MVR to predict production at drilling or rework locations from completion and reservoir data. Typically, the ML/MVR models are trained to predict IP90 and EUR for a specific completion design and geologic location, and those predictions are converted into 40-yr monthly production forecasts by modifying local zero-time average production curves from existing nearby and/or analogous wells. 

A user-defined set of lateral spacings, completion parameters and reservoir parameters that define a large matrix of completion designs for economic evaluation. Every combination of parameters is evaluated, often resulting in thousands or tens of thousands of potential completion designs and spacing/reservoir settings.

Drilling and completion costs sensitive to TVD, lateral length, hydraulic fracturing parameters, casing strings, etc. User imposed operational risk factors that drive up the expected cost for the more aggressive completions being considered.

Standard individual well, 40-yr, monthly cash flow analysis.  For completion optimization only the single-well analysis is used. The production type curve from the Type Curve Builder is combined with NGL purity product streams, fixed and variable operating costs, abandonments costs, gathering and transportation fees, etc. to perform the economic analysis. When available, utilize internal accounting system data for operating and well costs.

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App Benefits

Utilize advanced ML/MVR analysis and economics to rapidly optimize completion designs using extensive empirical completion datasets. Rapidly evaluate hundreds of different completion designs to maximize the economic measure of your choice and lead a multi-year completion evolution plan.

  • Created with Lunacy
  • Created with Lunacy
For The Executive

Take comfort in achieving economics-based completion optimization without sacrificing technical sophistication. Plan a multi-year completion technology strategy based on maximizing your chosen economic criteria.

For Operations

Design completions based on solid economic analysis and include operational risk in that assessment. Quantify the trade-off between operational risk and theoretical financial gains with more aggressive completions. 

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Frac Lessons Learned

SVP of Unconventional Solutions, George Voneiff, joined Steve Cobb from NSI Technologies to share recent stories from their work in several North American basins. 

Additional Resources


 

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WEBINAR

From Data To Decision

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WEBINAR

Frac Lessons Learned

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WHITEPAPER

AI/ML in PetroVisor™