Description
Smart wells and real-time optimization systems keep top-performing wells in high gear. What about the other 90% of the industry’s assets? Most of the breakthroughs in field automation and production optimization have overlooked the hard working but unspectacular wells and fields that make up the majority of onshore assets. It is possible to increase production and reduce operating costs with surprising gains even for these average assets using a “right-time data” approach. Field data collection and monitoring devices using this approach are designed to better fit the economics of the everyday well. They do this by using new assumptions for exactly what data are needed—and how often—to drive smarter, more timely decisions around resource management, interventions, and field planning.
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