In the wake of the collapse of the global oil market, with oil at one half of its former price for the foreseeable future, producers have dramatically cut their organizations and challenged themselves to do more with less. Many see this as a paradigm shift because so many of our former practices need to be reconsidered for change or elimination or development in a drive for yet greater efficiency.
In upstream production, a critical, first, necessary change is to make production measurement a priority. Why measurement? Because all paths to improvement go through measurement. To assess what are the most value-adding activities, the most effective processes and the most efficient methodologies, measurement is required. Measuring the production from every well is a critical enabling step to every subsequent improvement in production and reservoir engineering practice.
In this presentation, drawing from a long history of case studies from both conventional and unconventional fields, we will:
- Demonstrate why production measurement is so important to every oil and gas producer.
- Take a critical look at many common production measurement practices that are widely used yet ineffective, and how this can lead to organizational lethargy.
- Highlight several important developments in production measurement that have been overlooked and underutilized, and can positively impact a producer’s daily business.
- Show how production measurement is the key to unlocking efficiency, evaluating strategies, increasing production, mitigating risks, and reducing costs in the core business of production operations and reservoir engineering.
- Show how to use production measurement to track performance so that these gains in improved practices can be maintained, or improved further.
Everyone attending will learn how a priority on production measurement pays off, and will be given a self-assessment guide they can use to evaluate how well their own company effectively uses production measurement.
The Letton Hall Group is an independent, deep knowledge team of experts in oil and gas flow who, by advancing applications of measurement technology, have learned how to make measurements work effectively for business objectives.