QRI’s tools build on over 4000 years of technical experience and proven proprietary processes geared toward optimizing reservoir management practices. Our product-based solutions help clients understand the value of their assets, optimizing their production and reserves goals while maximizing their return on investment. Quickly gain insight into your conventional reservoir, unconventional play, or asset portfolio to help you detect trends in production performance, identify recovery obstacles, and uncover development opportunities.
SpeedWise® combines trusted petroleum engineering tools with data mining and machine learning algorithms to establish a new generation of analytics for:
Get the most out of your wells and asset portfolio by detecting trends in production performance, identifying recovery obstacles, and uncovering development opportunities. SpeedWise Diagnostics® empowers engineers and managers by estimating reserves in order to accurately evaluate assets, and by assisting in creating a field development plans that will increase production and optimize current operations.
Our SpeedWise Portfolio® service assesses the current value of a portfolio of hydrocarbon reservoirs by performing a fast and comprehensive well-by-well analysis of a client’s entire portfolio (big data). SpeedWise Portfolio® helps management categorize groups of fields for capital improvements or divestment.
Our patented mathematical algorithms extract information for an entire portfolio of fields, such as decline rates, decline trends, recent well performance, field/well ranking and reserves. Wells and reservoirs are then ranked by EUR (Estimated Ultimate Recovery) to highlight the most valuable reservoirs in the entire portfolio. Different tiers of fields (e.g., top five producing reservoirs vs. remaining reservoirs) are also compared using different metrics to highlight the possible value concentration that may exist in the portfolio.
SpeedWise Portfolio® also provides a statistical understanding of workover performance by analyzing positive and negative changes in decline rates for any given well in the portfolio. In addition, it checks the last production rate of all wells shut-in in recent years to identify/quantify potential opportunities from re-opening wells.
For mature waterflood, SWM contains reduced-physics data-driven model that quantifies each connection between an injector and a producer in terms of strength and efficiency.
QRI's SpeedWise Unconventionals® service is an efficient assessment/analysis of resource plays for valuation of acreage and development planning. The service combines hyperbolic decline curve analysis, k-means clustering techniques, geostatistics, machine learning, regression models and discriminant analysis to provide a fundamental understanding of the existing production trends in a given field or play (i.e., prediction of production behavior of future wells located in an arbitrary unexploited location, estimated ultimate recovery and barrel of oil equivalent), the valuation of acreage, and development needs.