Contact Information

  • Corey Wood
    (210) 216-7620

Description

Well-rounded Petroleum Engineer with 3-years of Production and Reservoir experience focused in the Permian Basin seeking contract or full-time position

Industry

E&P

Location

Texas

Experience

EXPERIENCE
Lilis Energy, Inc. Fort Worth, Texas
Operations Engineer January 2018 – June 2020
Reservoir Engineering Intern May 2017 – August 2017

• Evaluated potential acquisitions & divestitures across a multitude of scenarios including PDP, WI, ORRI, & acreage bids. Collaborated with geology, land, and finance on deals ranging from $500M - $100MM+. Actively participated in ~$56MM (~$39MM as principal reservoir engineer) of deals that were successfully closed.
• Analyzed >1000 wells across Brushy Canyon, Avalon, Bone Spring, and Wolfcamp. Developed type curves with economic assumptions and high-graded drilling inventory for future development plans. Statistically quantified risk, performed sensitivity analysis, and analyzed underlying trends to improve model confidence.
• Monitored LOS and developed precise well specific lifting, static, variable, and breakeven costs. Categorized wells and proposed shut-in schedule to management dependent on pricing sensitivity while considering hedged volumes. Findings lead to temporary shut-in of marginal wells consisting of ~25% of production with a decrease of ~37% of variable LOE during market downturn.
• Forecasted and tracked CAPEX, production, reserves, etc. for $70MM-$100MM multi-rig programs. Developed well cycle D&C CAPEX models, worked with FP&A team to refine corporate model on accrual and CF basis. Performed monthly accrual reviews with accounting team.
• Assisted with quarterly reserve reports. Built economic models from ground up utilizing LOS and operational knowledge. Walked auditors through various assumptions as needed.
• Interfaced with RBL syndicate to consistently familiarize bankers with recent operational improvements reflected in corporate reserve reports primarily for redetermination purposes.
• Participated in strategic alternative process to market company for potential merger or acquisition.
• Monitored data from several sources (tracers, pressure monitoring, offset operator data, production, etc.) to optimize well-spacing
• Successfully petitioned RRC for tight gas classification across acreage utilizing unconventional PTA and geological data (RRC docket 08-0317323). Anticipate PV10 increase of up to $300M/well from realized tax breaks.
• Developed technical sections of IR, A&D, BOD, etc. slide decks and PRs, 10Qs, 10Ks, etc.
• Evaluated non-operated JV projects and provided recommendations to management on participation

• Designed, proposed, and oversaw completions and workover well interventions.
• Developed gas blended stream analysis models and forecasts. Worked with midstream gatherer on treating, compression, and takeaway needs. Explored additional compression options with facilities group and 3rd party compressor suppliers to optimize costs and increase reliability where possible. Proposed installation of leased compression with projected savings of $0.11/MCF vs 3rd party compression costs.
• Managed artificial lift design, installation, and optimization (primarily gas lift and jet pump) using nodal analysis and SCADA-monitored data. Gas lift design optimization saw ~10% increase in rates.
• Proposed fieldwide artificial lift conversion project from primarily jet pump to gas lift including collaborating with facilities personnel on scalable infrastructure. Projected increase of ~2.8MMBOE reserves with decrease of OPEX by ~40% and workover frequency by ~63% per well.
• Tracked water production trends and developed forecasts to ensure proper SWD system capacity. Performed log analysis for II estimates, worked with Geology to pick completion intervals. Decreased SWD completion costs by ~$500M (54%)/well while increasing realized max injection rates by ~5%.
• Collaborated with management, field personnel, and 3rd party subject matter experts on multiple gas and crude treating projects. Merged technical data, production, projections, and field knowledge to aid in design of >$1.0MM crude treating system along with >$400M gas treating system.
• Performed economic analysis and aided in design on various pipeline and gathering system projects up to $2.0MM.
• Managed >$1.0MM capital program for freshwater asset exploitation projected to increase capacity by 80,000 BWPD. Actively assisted BD on risk-adjusted valuation and monetization strategy.
• Monitored well performance and trends vs expectations. Connected geological, drilling, completions, and production data to identify impacts. Findings lead to several improvements in performance and costs.
• Worked with land, legal, and business development on complex 3rd party SWD contracts. Oversaw operational planning to fulfill contractual obligations and decrease disposal costs up to ~84%.
• Provided key expert witness technical testimony during RRC docket 08-0321175. Resulted in first-of-its-kind final order granting 23 wells, a large majority classified as gas, a 2-year flaring authority due to midstream issues. 4 wells that were shutin for compliance, representing ~23% of gross company condensate production, were allowed back to production due to ruling.

Memorial Resource Development Corporation (Now Range Resources) Arcadia, Louisiana
Field Operations Engineering Intern – Lower Cotton Valley / Terryville Field July 2016 – August 2016
• Hands-on field rotation program involving drilling, completions, production, and facilities aspects in HPHT wet gas & dry gas environments

Awards and Certifications

EIT - TBPE (PE eligible 2022)

Education

MS Finance (9/36 Credits) - Texas A&M University
BS Petroleum Engineering (Cum Laude) - Texas A&M University