SpeedWise® Solutions

Fast Diagnostic Solutions

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:

  • Production forecasting and decline curve analysis

  • Rapid reservoir modeling

  • Evaluation and identification of core and underperforming assets

  • EUR (estimated ultimate recovery)

  • Investment opportunities, preliminary field assessment and capital optimization

  • High-level field development planning

SpeedWise Diagnostics®

Rapid Analysis of Reservoir Performance

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.

Goals

  • Diagnose the current state of a reservoir by instantly processing and analyzing well and reservoir data
  • Couple automated analytics with engineering wisdom
  • Translate diagnostics into field action plans targeting gains in production and reserves
  • Rapidly estimate asset value as part of acquisition analysis

Recommended Use

  • Perform technical due diligence as part of acquisition and divestitures
  • Find new opportunities in mature fields

SpeedWise Portfolio®

Fast and Comprehensive Portfolio Analysis

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.

Goals

  • Assess the current value of a portfolio of oil and gas assets
  • Assess risks within a portfolio of petroleum assets
  • Provide optimized field development opportunities based on type curves and EUR estimates
  • Improves valuation

Recommended Use

  • When fast and informed decisions are necessary for making an investment in oil or gas assets
  • Streamlined analysis of data room and private data
  • Clients should use results to deeply understand their own portfolio and prioritize future investments
  • Use for high-level up-to-date status reports on the health of all assets

SpeedWise® Waterflood Management - our SWM™ Service

Providing Improved Analysis of Waterflood Optimization using Data-driven Models

For mature waterflood, our SWM™ service provides enhanced waterflood optimization analysis by reduced-physics data-driven model that quantifies each connection between an injector and a producer in terms of strength and efficiency.

Goals

  • Determine strength and efficiency of well interactions
  • Continual optimization of operational decisions to maximize performance of existing waterfloods

Recommended Use

  • Reservoir model built and matched by QRI
  • Interactive dashboard delivered to (1) inspect and interrogate the model, and (2) evaluate and optimize operational scenarios.

SpeedWise Unconventionals®

A Super-fast Analysis for Unconventionals

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.

Goals

  • Identify and evaluate the commerciality of high productivity areas and differentiate these fairways from non-commercial areas
  • Optimize field development based on type curves and EUR estimates
  • Automate resource play development optimization and improve valuation