Petroleum reserves
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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This paper discusses how a traditional stochastic approach in project economics used for screening and ranking can sometimes limit management visibility of all possible outcomes in a project.
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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.
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In drawdown management, operators can exert control over the downhole flow pressure, reservoir pressure, and choke size to avoid estimated ultimate recovery (EUR) losses.
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The need for cost and capital efficiency calls for careful integration of technical and commercial elements.