scholarly journals Value Change in Oil and Gas Production: III a Time to Buy, a Time to Sell, a Time to Decide

2002 ◽  
Vol 20 (4) ◽  
pp. 289-298 ◽  
Author(s):  
I. Lerche ◽  
S. Noeth
Keyword(s):  
Oil And Gas ◽  
Gas Production ◽  
Production Economics ◽  
Rational Decision ◽  
Value Change ◽  
Oil And Gas Production ◽  
Field Development ◽  
New Information ◽  
The Cost

Deciding whether to buy new information to potentially improve the residual reserves of a producing oilfield, and what price to pay for the information, which may or may not actually improve the reserves picture, is a problem of some concern to field development and production economics. Here we show how the worth of obtaining new information depends not only on the reserves produced to date but also on the residual reserves still to be produced, on the probability that purchase of new information will indeed improve the known reserves, on the value estimated to be produced by the acquisition, and on the cost of the acquisition. There are also dependencies on production and lifting costs but these are not considered in detail here. The timing of a decision whether to acquire new data and how much to pay for it, are illustrated using total profitable gains made to date as a proxy for time. Two simple examples are worked through in detail so that one can see when the uncertainty of possible gains from newly acquired information are sufficient, relative to costs and the worth of residual reserves still to be produced, to allow management to make an informed and rational decision on whether to acquire and when to acquire new information in respect of the life of the field without such acquisition.

scholarly journals ANTHROPOGENIC INFLUENCE OF THE KOMSOMOLSK OIL AND GAS CONDENSATE FIELD ON MODERN DEFORMATION PROCESSES

2018 ◽  
pp. 11-20 ◽  
Author(s):  
Yu. V. Vasilev ◽  
D. A. Misyurev ◽  
A. V. Filatov
Keyword(s):  
Oil And Gas ◽  
Gas Production ◽  
Gas Condensate ◽  
Industrial Safety ◽  
Subsidence Trough ◽  
Oil And Gas Production ◽  
Field Development ◽  
Repeated Observations ◽  
Deformation Processes ◽  
The Relationship

The authors created a geodynamical polygon on the Komsomolsk oil and gas condensate field to ensure the industrial safety of oil and gas production facilities. The aim of its creation is mul-tiple repeated observations of recent deformation processes. Analysis and interpretation of the results of geodynamical monitoring which includes class II leveling, satellite observations, radar interferometry, exploitation parameters of field development provided an opportunity to identify that the conditions for the formation of recent deformations of the earth’s surface is an anthropogenic factor. The authors identified the relationship between the formation of subsidence trough of the earth’s surface in the eastern part of the field with the dynamics of accumulated gas sampling and the fall of reservoir pressures along the main reservoir PK1 (Cenomanian stage).

Value Change in Oil and Gas Production: IV Unresolved Options with New Information Acquisition

2002 ◽  
Vol 20 (4) ◽  
pp. 299-307
Author(s):  
I. Lerche ◽  
S. Noeth
Keyword(s):  
Information Acquisition ◽  
Oil And Gas ◽  
Success Probability ◽  
Gas Production ◽  
Variable Cost ◽  
Fixed Cost ◽  
Unknown Parameters ◽  
Oil And Gas Production ◽  
New Information ◽  
Parameter Values

This paper considers the situation after one has committed to acquiring new information but when the information acquired does not resolve completely an ambiguity in potential new reserves for a producing field. As a consequence, management must decide whether further studies are warranted at some cost and with only a finite probability such studies would lead to a successful venture, or whether it is more appropriate to abandon the investment. Because there are a large number of ways such an investigation can be handled, and because a large number of possible parameter values can influence the decision, in this paper we restrict the analysis to just two variables: either a fixed probability of success after further studies but with a variable cost for the studies, or where there is a fixed cost allowed for the studies but the success probability after the studies is variable. Other situations involving more complex but more realistic, groupings of variable and often unknown parameters will be considered in later papers in this series. The simple examples given here are provided to illustrate as sharply as possible extreme end-member situations when resolution is not achieved with acquisition of information alone.

scholarly journals Analysis of the results of geodynamic monitoring at the Kogalym oil field of LUKOIL-AIK LLC

2020 ◽  
pp. 31-41
Author(s):  
Yu. V. Vasilev ◽  
D. A. Misyurev ◽  
D. P. Inozemtsev ◽  
P. I. Bezhan
Keyword(s):  
Oil And Gas ◽  
Gas Production ◽  
Oil Field ◽  
Industrial Safety ◽  
Anthropogenic Factor ◽  
Oil And Gas Production ◽  
Field Development ◽  
Repeated Observations ◽  
Geodynamic Monitoring ◽  
Deformation Processes

The article gives valuable information on geodynamic monitoring. We created a geodynamical polygon to ensure the industrial safety of oil and gas production facilities. It was created on the Kogalym oil field for multiple repeated observations of recent deformation processes. Analysis and interpretation of the results of geodynamical monitoring: satellite observations, exploitation parameters of field development provided an opportunity to identify that an anthropogenic factor is one of the conditions for the formation of recent deformations of the Earth's surface.

Evaluation of Annulus Pressure Buildup During Injection Operations

2020 ◽  
Vol 143 (7) ◽  
Author(s):  
I. M. Mohamed ◽  
Y. Panchal ◽  
N. Mounir ◽  
G. Woolsey ◽  
O. A. Abou-Sayed ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Enhanced Recovery ◽  
Gas Production ◽  
Water Flooding ◽  
Oil And Gas Production ◽  
Pressure Buildup ◽  
Testing Procedures ◽  
Production Wells ◽  
The Cost ◽  
Pressure Changes

Abstract More than 300 million barrels of saltwater is produced everyday from oil and gas production wells. Most of this volume is injected through either saltwater disposal wells or used for water flooding and enhanced recovery purposes. Usually, the regulations require the injection to be conducted through the injector well tubing that is isolated from the well annulus to protect the underground source of drinking water (USDW) by preventing any possible leak through the well casing. Monitoring of the annulus pressure during injection ensures the well integrity. The annulus pressure changes can occur by one of the following mechanisms: thermal expansion of the annulus fluid; ballooning of the injection tubing; communication between the tubing and the annulus; or fluid migration behind the casing. Determining the communication mechanism can be a complex process and a need may arise to run several testing procedures and inspect all the wellbore components. Successful evaluation of the annulus pressure values and trends can directly identify the root cause of the annulus pressure buildup and simultaneously save time and reduce the cost associated with the workover operations. The seven case studies presented in this paper focus on the details pertaining to the annulus pressure buildup under different well conditions and purposes the interpretation technique for each case.

Experimental Study of Pipe Pulling Through Settled Barite

2019 ◽  
Author(s):  
Ali Taghipour ◽  
Torbjørn Vrålstad ◽  
Ragnhild Skorpa ◽  
Mohammad Hossain Bhuiyan ◽  
Jan David Ytrehus ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Drilling Fluid ◽  
Gas Production ◽  
Solid Particles ◽  
Cement Slurry ◽  
Oil And Gas Production ◽  
Field Development ◽  
Steel Pipes ◽  
Well Completion ◽  
Side Track

Abstract Wells are essential in oil and gas production and construction of them is one of the main cost drivers for field development. It is normally needed to drill and construct new wells from existing fields during most of the production time. In order to reduce costs one can re-use parts of existing wells when they are no longer efficient. This is done in offshore fields also when there is limitation for new wells due to capacity of the subsea template. Through tubing drilling is a method to drill a side track through the wellbore tubulars. However, this will normally result in a smaller and less effective well completion. Removing parts of the casing section and drill a larger size sidetrack is an option to provide a new full-size wellbore. Removing the 9 5/8” casing through the settled particle in the annulus can be challenging. The wellbore annulus is normally filled with old drilling fluid, displacing fluid and/or cement slurry. The solid particles of these annular fluids are settled during years of shut-in and make it difficult to move the casing sections. There are several techniques for pulling the casing section, but there is a lack of knowledge of some of the key mechanism causing the resistance in these operations. In order to study and address the dominating effects in these operations, down-scaled laboratory tests are performed. The experiments reported here are performed by pulling steel pipes through the settled barite in the annulus. The pipes used in the tests are down-scaled from typical casing sizes with and without collars. The barite slurry compacted inside the annulus have different hydrostatic and pore pressures. When the pipe is pulled the required mechanical force is measured. Results show that the single most significant factor causing resistance when pulling the tubulars is the collars outside the pipe. Furthermore, it is identified that the pore pressure improves the mobility of the settled particle around the collar. In total these results provide improved understanding on the dominating factors during pulling pipes from a packed annulus.

scholarly journals Intelligent Technologies in the Oil and Gas Industry

2019 ◽  
Vol 105 ◽  
pp. 01003
Author(s):  
Sergey Milyushenko
Keyword(s):  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Production Costs ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Field Development ◽  
Oil And Gas Resources ◽  
Smart Technologies

The article is devoted to the discussion of improving the quality of oil and gas production, through the introduction of new technologies for the extraction and processing of natural resources. As well as to the procedure, which aims to ensure the increase in the volume of mineral resource (liquid hydrocarbons) and to optimization of production costs in modern enterprises of oil and gas industry. The development of “smart” technologies in the oil and gas industry is mainly associated with a reduction in proven oil and gas resources in the Russian Federation. However, there are oil and gas reserves in places with an unfavorable climate, which significantly increases the cost of developing such deposits. For solving this problem, the “smart” technology “Smart Field” development is proposed.

scholarly journals A Genetic Algorithm Integrated with Monte Carlo Simulation for the Field Layout Design Problem

2018 ◽  
Vol 73 ◽  
pp. 24 ◽  
Author(s):  
Leonardo de Pádua Agripa Sales ◽  
Anselmo Ramalho Pitombeira-Neto ◽  
Bruno de Athayde Prata
Keyword(s):  
Genetic Algorithm ◽  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Design Problem ◽  
Oil And Gas ◽  
Probabilistic Approach ◽  
Layout Design ◽  
Gas Production ◽  
Oil And Gas Production ◽  
Field Development

Oil and gas production is moving deeper and further offshore as energy companies seek new sources, making the field layout design problem even more important. Although many optimization models are presented in the revised literature, they do not properly consider the uncertainties in well deliverability. This paper aims at presenting a Monte Carlo simulation integrated with a genetic algorithm that addresses this stochastic nature of the problem. Based on the results obtained, we conclude that the probabilistic approach brings new important perspectives to the field development engineering.

ADVANCES IN VISUALISATION TECHNOLOGIES: A CASE STUDY, LAHO GAS FIELD—OFFSHORE PENINSULAR MALAYSIA

2004 ◽  
Vol 44 (1) ◽  
pp. 513
Author(s):  
C.M. Gell ◽  
D.E. Meyer ◽  
R.A. Majid ◽  
D.J. Carr
Keyword(s):  
Oil And Gas ◽  
Peninsular Malaysia ◽  
Gas Production ◽  
Wave Form ◽  
Gas Field ◽  
Oil And Gas Production ◽  
3D Data ◽  
New Information ◽  
Multiple Attribute ◽  
3D Volume

A typical problem facing oil company asset teams today is the integration of new information into existing fields. Recently acquired 3D seismic for example, can add much needed detail for understanding reservoirs from producing wells. The key step of interpreting faults and surfaces, on which many other results depend, can often be time consuming and delay efforts to bring additional oil and gas production on-line. Using a volume-based approach to seismic interpretation with today’s visualisation technology, however, can lead to more accurate results produced up to four times faster than traditional line-by-line methods.Over the last four years, visualisation technologies have advanced to the point where these new techniques provide a faster, more geologically correct interpretation and evaluation of potential reservoirs in a shorter amount of time by comparison with line-by-line methods. These advanced techniques include, but are not limited to: multiple attribute voxel interpretation; interpreting fault planes (rather than fault sticks); real-time volume rendering with the ability to create geobodies; quick reconnaissance work in volume; the ability to combine workflows using non-3D volume tools such as wave-form classification with volume interpretation.This paper provides an example of the Laho gas field, offshore Peninsular Malaysia, where two wells were already producing gas and the operator, Petronas Carigali Sdn. Bhd (PCSB), acquired 3D data to evaluate the possibility of additional drilling locations.

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