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A Fully Automated Decline Curve Analysis Solution
Decline Curve Analysis (DCA) is the standard industry approach to forecast the production of oil and gas wells. The process can be extremely time consuming when hundreds or thousands of wells have to be reviewed to create a field forecast.
SpeedWise® Decline Curve (SDC) is a unique, cloud-based SaaS solution that applies advanced computational algorithms coupled with data-driven methods to generate robust decline curves on a well-by-well basis for any given field or portfolio. With SDC, technical teams and planning departments are able to greatly streamline the process of decline curve analysis. Allow more time to focus on result interpretation by leveraging SDC’s fully automated capabilities, with flexible parameter selection and adjustments. The patented numerical engine and machine learning-based type curving substantially reduces the time for estimating ultimate recovery while performing unbiased and systematic analysis to any number of wells.
SDC deploys an Augmented AI approach to the problem of decline curve analysis. Using cutting-edge technologies and patented algorithms in combination with expert-based workflows, SDC allows for DCA methods to be intelligently applied to any number of wells in an unbiased, systematic, and automated fashion.
With SDC, reap the benefits of a scalable, flexible and collaborative SaaS Solution hosted on a secure, cloud-based platform. The decline curve analysis software is accessed online via a subscription. Client data is protected leveraging AWS (Amazon Web Services) center and network architecture built to meet the requirements of the most security-sensitive organizations. Benefits of SDC as a SaaS include immediate access to high-performance computing through the cloud and there is no need to purchase and maintain extra hardware, painless deployment and upgrades, and improved collaboration and productivity. Being a SaaS solution, SDC will greatly facilitate collaboration with colleagues to upload data, run cases, analyze results or share those results with other teams in your organization.
SpeedWise® Decline Curve (SDC) is featured in the September 2020 issue of JPT.
Key Features of SpeedWise® Decline Curve
Fully automated event detection and interpretation of outlying data
SpeedWise® Decline Curve has an advanced, patented event detection algorithm that is fully automated as part of its numerical engine.Cross-validation with operational data
Since changes in production are highly correlated with the real-time events, SDC performs a cross-validation with the operating conditions and reflects that on top of the production profile.Model fitting that results in best base forecast
SDC computes a decline curve for all events using advanced optimization algorithms, and selects the best fit for the data while considering dynamics in the field.Enhance productivity with improved collaboration
SDC boasts an intuitive, interactive user interface for uploading data, running experiments and analyzing and sharing results. Adjust parameters and plot remaining recoverables.Facilitate risk management associated to reserve estimates
Use the concept of quantiles to fit multiple decline curves relative to the trends seen considering percentiles of historical data that were selected based on the well events.Improve ability to predict wells with limited production history
Perform Smart Clustering Analysis using machine learning techniques and pattern recognition to partition the dataset into internally homogeneous and externally distinct groups.SpeedWise® Decline Curve is used by analysts, investors, asset teams and planning teams in oil & gas.
SpeedWise Decline Curve: A Flexible, Machine Learning-based Solution
