The digital transformation brought about by edge computing, real-time surveillance, and high-speed interpretation has reduced reaction times, increased data value, and improved operating efficiency. Drilling a well to target depth does not guarantee maximum oil production. Challenges include early gas or water breakthrough, poor sweep, well integrity failures, lack of downhole data, and the need for interventions. New technologies for permanent monitoring of pressure, temperature, and distributed temperature and acoustic data have created a step change in hydrocarbon asset management, especially when combined with the range of choices available for downhole flow control. The next step of rapid automated downhole control for production optimization is now a reality. With the right technology, hybrid data analytics and model-based workflows can significantly enhance production while minimizing interventions.
This digital evolution of the past decade is discussed and several case studies are presented, encompassing a wide range of applications and well types. The economic value of digital wells is demonstrated through outcomes that include increased recovery, reduced production deferment, better reservoir management, optimized hydraulic fracturing, and surface seismic depth correction. An analysis of the savings generated by deploying intelligent completions in various well profiles is also presented.