Value Creation through Capital Efficiency

The use of reservoir management tenets helps optimize resources such as drilling rigs, surface facilities, offshore platforms, water and gas recycling, compression, and power requirements.

QRI provides portfolio and asset ranking to assist in gap analysis. This ranking employs QRI’s proprietary leading and lagging metrics. The gap analysis takes into consideration technical capabilities with geological and operational complexity. Value is derived from optimized resource acquisition and allocation.

 

Quantum Reservoir Impact improved drilling efficiencies

Case 1: QRI Improves Drilling Efficiency

Pre-QRI Situation

Our client needed help controlling the cost of drilling fluid and improving the efficiency of their drilling process.

QRI Impact

QRI Impact

QRI advised the client to change its new well design and drilling mud architecture. Our recommendations resulted in a savings of $4.8 million per well.  Conservatively, assuming a 20-well per field, per year drilling schedule for three fields, a yearly savings of $289 million would be achieved. Over a five year period, this would result in a $1.4 billion savings.

 

Case 2: QRI Increases Oil Potential

Pre-QRI Situation

A super giant field had been on production under a peripheral water flood. It was in a mature state of depletion with more than 70% of its reserves already produced. Re-engineering efforts were initiated to reduce field decline rates and water cuts. A secondary objective was to lower ESP requirements and associated capital programs.

The field produced from a 60+ m thick carbonate reservoir which is comprised of numerous shoaling-upwards cycles. The reservoir has an average porosity of more than 15% and permeability up to several darcies.

QRI Impact

QRI Impact

QRI’s RCAA® process was employed to recognize deficiencies in the prior depletion plan and provide direction as to remedies. Dramatic improvements were achieved in field-wide production and water management.

In 1999, the average well rate was expected to decline at 10% per year and the water cut would double over the next 7 years. With the deployment of the improved depletion plan, the average well rate and field water cut instead stabilized over this time. Moreover, oil potential increased 128,000 B/D, 69 dead wells were revived and 60 ESPs canceled. Total cost savings were estimated to exceed USD 100 million.