Reason 1... With more than 95% of the oil wells on artificial lift in USA, significant lease operating costs are tied to artificial lift operations.
Reason 2... By not paying attention to lift selection and operations, you may be missing opportunities to potential upside and in the worst case scenario ill-informed lift decisions may cause unplanned shut-downs and costly loss of production.
Building on my previous SPE Distinguished Lecturer talk, I plan to present some observations on:
- Why artificial lift matters whether you are focused on liquids or gas production,
- How lift practitioners' perspectives have changed as industry faced unconventional and other frontiers in production challenges,
- What operators are doing to improve efficiencies under lower pricing environments while extending productive life of assets,
- How are we setting ourselves up to derive more benefits from deployment of leading edge technologies like data analytics, machine learning, edge computing.