PetroVisor App : Production Optimization

Production Optimization

Use a combination of fast, moderate, and slow optimization methods that result in reduced downtime while increasing production gain with a lower failure rate.

 

Production Optimization

The PetroVisor Production Optimization App employs industry-standard analytical solutions, physics-based models, and machine learning approaches to optimize and prolong product life while ensuring continual improvement in field operations and decision making.

Fast loop optimization helps operators to reduce delayed production and shift from reactive to proactive methods, allowing operational and technical teams to take counter-actions ahead of schedule. Slow loop optimization enables engineering and asset teams to rate and propose the best rig-based and rigless optimization possibilities, saving the time and effort required for human opportunity evaluation.

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A Simplified Approach to Production 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

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. 

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.

Use ML and SCADA to track well performance vs expectations, notifying operational staff when wells begin to experience production issues.

Detects gas breakthrough based on gas oil ratio (GOR) threshold violations.

Calculate PVT properties for oil, gas and water using Vasquez and Beggs,  Levitan and Murtha and Beggs and Robinson methods. Outputs oil and gas correlations such as Oil Bubble Point  Pressure, Formation Volume Factor Oil, Formation Volume Factor Gas and more.

Calculate the oil, gas, and water production on perforation level from the production on well level using the kh-method.

Identify underperforming wells based on the comparison of production and monthly targets and production thresholds.

Estimate the liquid production rate of naturally flowing wells and ESP wells.

Detect water breakthrough based on water cut threshold violations.

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App Benefits

The Production Optimization app computes the required key performance metrics, which include subsurface and surface items. Machine learning-driven and industry-standard approaches are used to optimize reservoir and field recovery and increase production gain.

  • Created with Lunacy
  • Created with Lunacy
Gain Consistent Results

The app allows users to develop a unified perspective that generates a sustainable, consistent, and comprehensive portfolio of rig-based and rigless candidates in hours rather than weeks or months.

Decrease Well Review Time

The app can considerably decrease the time required for manual well assessment by giving a digital cortex and prescriptive actions for underperforming wells and reservoirs that warrant further study.

Simplified Approach

The approach assists in the automatic re-evaluation and selection of prime candidates while boosting the economic success rate of executable opportunities.

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New Well Placement And Identifying Workover Candidates

Using the PetroVisor™ platform, the operator delivered an NPV improvement of $751 million (34%) and reduced CAPEX by $15.4 million (34%).

Additional Resources


 

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USE CASE

Production Loss & Deferment Management

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USE CASE

Workover Candidate Selection

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WHITEPAPER

Developing Production Forecasts