Reservoir: Fit For Purpose Completions in Key North American Oil and Gas Plays
Technology has delayed the once considered inevitable “peak oil” and its subsequent decline, allowing the commercialization of oil and gas resources that were previously thought to be unmovable. Along with this, a “bigger is better” trend has emerged, which has seen an enormous influx of capital into completion and fracture stimulation operations. This trend has resulted in unprecedented production growth, year over year – but how much farther can it go? With the collapse of the global oil market, a new trend is emerging; one which promotes optimizing capital efficiencies and profitability metrics rather than simply growing production – Fit For Purpose Completions. To execute successful fit-for-purpose completions requires understanding the unique connection between the completion and the reservoir, and squeezing the maximum economic benefit from every play. This presentation focuses on basics such as completion compartmentalization, well placement, frac surface area, complexity and conductivity – and how to ensure these are optimized for specific reservoir types while avoiding over (or under) capitalization. Key North American unconventional oil and gas plays will be discussed. Their current completion and well performance statistics will be reviewed, along with commentary on the what the most effective operators are doing and where the best future opportunities may be found.
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