Petroleum reserves
This paper presents three examples covering both gas and oil fields at different stages of their lives that show how estimated ultimate recovery (EUR) and the corresponding range of EUR uncertainty varies over the life of each field.
Since the late 1930s, the offshore industry has advanced from the first platform in 14 ft of water to the ultradeepwater 20K era. Driven by seismic, drilling, and development breakthroughs, the industry has pushed into deeper waters, high-pressure reservoirs, and new frontiers like Guyana, continually expanding the limits of offshore exploration.
The SPE Oil and Gas Reserves Committee has opened a period for public comments and feedback on the current 2018 PRMS.
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Producers in Oklahoma’s newly opened Merge play are sitting atop a resource that rivals some major world gas fields and discoveries, Citizen Energy’s Geology CEO Greg Augsburger told the SPE Gulf Coast Section Business Development Group recently. -
Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs.
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Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.
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Despite a decline in oil and gas production and a decrease in revenue from 2015, an Ernst & Young’s study had a cautiously optimistic outlook as the industry adjusts to what it called “the new normal” of a lower, but stable, oil price.
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Governments, companies, service providers, and many other stakeholders in the industry have realized the oil-price outlook may remain low for longer than expected and the need to plan accordingly.
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This paper presents approaches for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal-well information.
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Compared to oil in the ground, the sun looks like a limitless energy source. Making comparisons of the two by calculating the equivalent of barrels of reserves for a solar project seems like an odd notion, but experts say it can and should be done.
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In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
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In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
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The authors present a geology-driven deep-learning estimated-ultimate-recovery (EUR)-prediction model for multistage hydraulically fractured horizontal wells in tight gas and oil reservoirs.
