Achieving data-driven efficiencies with integrated planning analytics

2016 ◽  
Vol 56 (2) ◽  
pp. 583
Author(s):  
Elizeu Boto
Keyword(s):  
North American ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Lessons Learned ◽  
Data Driven ◽  
Field Development ◽  
Capital Costs ◽  
The North ◽  
Drilling Technology ◽  
Local Operators

The logistical challenges of drilling in the Surat and Bowen basins, and the high operational costs allied to an oil price downturn, is forcing the CSG to LNG players in Queensland to reinvent their delivery models. The concept of a drilling factory has been the holy grail of the oil and gas industry for many years, and many local operators have turned their attention to the lessons learned by the North American shale players. These companies, with virtually no increase in capital costs, were able to improve time to drill, wells per rig and total distance drilled by 50–150% in fewer than five years. This revolution has been achieved not only with the advent of improved drilling technology but also the use of data-driven productivity and automation. Leveraging the experiences of North American companies, local operators are embracing the use of analytics to boost operational efficiencies and improve the safety of their operations. APLNG, for example, has used analytics to integrate multiple aspects of planning and operations to optimise field development for future phases of the project. As the volume of wells continues to increase, more supply chain related issues will require mitigation. Analytics solutions can assist not only in the isolation of wellbore-related non-productive time issues and reduce drilling cycle times for individual wells, but also to use the best tools and techniques in only the best parts of the field.

scholarly journals Common Determinants of Credit Default Swap Premia in the North American Oil and Gas Industry. A Panel BMA Approach

Energies ◽  
2020 ◽  
Vol 13 (23) ◽  
pp. 6327
Author(s):  
Karol Szafranek ◽  
Marek Kwas ◽  
Grzegorz Szafrański ◽  
Zuzanna Wośko
Keyword(s):  
Credit Risk ◽  
North American ◽  
Oil And Gas ◽  
Credit Default Swap ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
The North ◽  
Credit Default ◽  
Default Swap

This study discovered market determinants of credit default swap (CDS) spreads in the North American oil and gas industry. Due to the limited theoretical background on market sources of CDS price fluctuations, we chose to alleviate model uncertainty and possible misspecification issues using Bayesian model averaging. This robust framework allowed us to aggregate results from a vast number of linear panel models estimated over the 2017–2020 period. We identified oil price volatility, major shifts in the OPEC+ supply policy, natural gas prices and industrial metal prices as the most robust determinants of CDS spreads. We show that following the onset of the COVID-19 pandemic, oil prices ceased to be a notably important determinant of credit risk, as factors indirectly related to oil prices, such as global and sectoral uncertainty, financial conditions and the macroeconomic stance became more influential. Additionally, we show that the CDS spreads of shale companies are determined by similar common factors, but they are more sensitive to the OPEC+ decisions on the global supply and are less affected by the domestic activity. Finally, we also prove that our modelling approach may help investors and risk officers to identify robust determinants behind the dynamics of credit risk.

Main directions of searching for hydrocarbons in Nadym-Pursk oil and gas region

2021 ◽  
pp. 23-31
Author(s):  
Y. I. Gladysheva
Keyword(s):  
Oil And Gas ◽  
Raw Materials ◽  
Accumulation Rate ◽  
Sedimentary Basins ◽  
Seismic Exploration ◽  
Research Approach ◽  
Field Development ◽  
The North ◽  
The Sixties ◽  
Hydrocarbon Deposits

Nadym-Pursk oil and gas region has been one of the main areas for the production of hydrocarbon raw materials since the sixties of the last century. A significant part of hydrocarbon deposits is at the final stage of field development. An increase in gas and oil production is possible subject to the discovery of new fields. The search for new hydrocarbon deposits must be carried out taking into account an integrated research approach, primarily the interpretation of seismic exploration, the creation of geological models of sedimentary basins, the study of geodynamic processes and thermobaric parameters. Statistical analysis of geological parameters of oil and gas bearing complexes revealed that the most promising direction of search are active zones — blocks with the maximum sedimentary section and accumulation rate. In these zones abnormal reservoir pressures and high reservoir temperatures are recorded. The Cretaceous oil and gas megacomplex is one of the main prospecting targets. New discovery of hydrocarbon deposits are associated with both additional exploration of old fields and the search for new prospects on the shelf of the north. An important area of geological exploration is the productive layer of the Lower-Berezovskaya subformation, in which gas deposits were discovered in unconventional reservoirs.

Challenges in Hydrate Plug Prevention in Pipelines Seen Over the Lifetime of a Field

2009 ◽  
Author(s):  
Casper Hadsbjerg ◽  
Kristian Krejbjerg
Keyword(s):  
Oil And Gas ◽  
Formation Rate ◽  
Hydrate Formation ◽  
Extended Period ◽  
Oil And Gas Industry ◽  
High Water ◽  
Point Of View ◽  
Field Development ◽  
Hydrate Plug ◽  
Subsea Pipelines

When the oil and gas industry explores subsea resources in remote areas and at high water depths, it is important to have advanced simulation tools available in order to assess the risks associated with these expensive projects. A major issue is whether hydrates will form when the hydrocarbons are transported to shore in subsea pipelines, since the formation of a hydrate plug might shut down a pipeline for an extended period of time, leading to severe losses. The industry practices a conservative approach to hydrate plug prevention, which is the addition of inhibitors to ensure that hydrates cannot form under pipeline pressure and temperature conditions. The addition of inhibitors to subsea pipelines is environmentally unfriendly and also a very costly procedure. Recent efforts has therefore focused on developing models for the hydrate formation rate (hydrate kinetics models), which can help determine how fast hydrates might form a plug in a pipeline, and whether the amount of inhibitor can be reduced without increasing the risk of hydrate plug formation. The main variables determining whether hydrate plugs form in a pipeline are: 1) the ratio of hydrocarbons to water, 2) the composition of the hydrocarbons, 3) the flowrates/flow regimes in the pipeline, 4) the amount of inhibitor in the system. Over the lifetime of a field, all 4 variables will change, and so will the challenge of hydrate plug prevention. This paper will examine the prevention of hydrate plugs in a pipeline, seen from a hydrate kinetics point of view. Different scenarios that can occur over the lifetime of a field will be investigated. Exemplified through a subsea field development, a pipeline simulator that considers hydrate formation in a pipeline is used to carry out a study to shed light on the most important issues to consider as conditions change. The information gained from this study can be used to cut down on inhibitor dosage, or possibly completely remove the need for inhibitor.

Utilizing Pseudo Well Connections to Simulate Multi-Stage Hydraulic Fracturing - Example Based On the Study of a Tight Gas Asset

2021 ◽  
Author(s):  
Aamir Lokhandwala ◽  
Vaibhav Joshi ◽  
Ankit Dutt
Keyword(s):  
Hydraulic Fracturing ◽  
Oil And Gas ◽  
Flow Simulation ◽  
Oil And Gas Industry ◽  
Development Plan ◽  
Hydraulic Fractures ◽  
Tight Gas ◽  
Gas Field ◽  
Field Development ◽  
Fracture Modeling

Abstract Hydraulic fracturing is a widespread well stimulation treatment in the oil and gas industry. It is particularly prevalent in shale gas fields, where virtually all production can be attributed to the practice of fracturing. It is also used in the context of tight oil and gas reservoirs, for example in deep-water scenarios where the cost of drilling and completion is very high; well productivity, which is dictated by hydraulic fractures, is vital. The correct modeling in reservoir simulation can be critical in such settings because hydraulic fracturing can dramatically change the flow dynamics of a reservoir. What presents a challenge in flow simulation due to hydraulic fractures is that they introduce effects that operate on a different length and time scale than the usual dynamics of a reservoir. Capturing these effects and utilizing them to advantage can be critical for any operator in context of a field development plan for any unconventional or tight field. This paper focuses on a study that was undertaken to compare different methods of simulating hydraulic fractures to formulate a field development plan for a tight gas field. To maintaing the confidentiality of data and to showcase only the technical aspect of the workflow, we will refer to the asset as Field A in subsequent sections of this paper. Field A is a low permeability (0.01md-0.1md), tight (8% to 12% porosity) gas-condensate (API ~51deg and CGR~65 stb/mmscf) reservoir at ~3000m depth. Being structurally complex, it has a large number of erosional features and pinch-outs. The study involved comparing analytical fracture modeling, explicit modeling using local grid refinements, tartan gridding, pseudo-well connection approach and full-field unconventional fracture modeling. The result of the study was to use, for the first time for Field A, a system of generating pseudo well connections to simulate hydraulic fractures. The approach was found to be efficient both terms of replicating field data for a 10 year period while drastically reducing simulation runtime for the subsequent 10 year-period too. It helped the subsurface team to test multiple scenarios in a limited time-frame leading to improved project management.

Challenges of Developing Marginal Fields in the Current Climate of Oil and Gas Industry

2021 ◽  
Author(s):  
Amina Danmadami ◽  
Ibiye Iyalla ◽  
Gbenga Oluyemi ◽  
Jesse Andrawus
Keyword(s):  
Oil And Gas ◽  
Dynamic Environment ◽  
Poor Performance ◽  
Oil And Gas Industry ◽  
Economic Benefits ◽  
Gas Industry ◽  
Field Development ◽  
Quality Technology ◽  
Indigenous Participation ◽  
Marginal Field

Abstract Marginal field development has gained relevance in oil producing countries because of the huge potential economic benefits it offers. The Federal Government of Nigeria commenced a Marginal Fields program in 2001 as part of her policy to improve the nation’s strategic oil and gas reserves and promote indigenous participation in the upstream sector. Twenty years after the award of marginal fields to indigenous companies to develop, 50% have developed and in production, 13% have made some progress with their acquisition while 37% remain undeveloped. The poor performance of the marginal field operators is due to certain challenges which have impeded their progress. A review of challenges of developing marginal fields in the current industry climate was conducted on marginal fields in Nigeria to identify keys issues. These were identified as: funding, technical, and public policy. Considering the complex, competitive and dynamic environment in which these oil and gas companies operate, with competition from renewables, pressure to reduce carbon footprint, low oil price and investors expectation of a good return, companies must maintain tight financial plan, minimize emissions from their operations and focus on efficiency through innovation. The study identifies the need for a decision-making approach that takes into consideration multi criteria such as cost, regulation, quality, technology, security, stakeholders, safety and environment, as important criteria based on which to evaluate the selection of appropriate development option for marginal fields.

Lessons Learned in Developing Human Capital for the Oil and Gas Industry in Kazakhstan

2021 ◽  
Vol 73 (08) ◽  
pp. 60-61
Author(s):  
Chris Carpenter
Keyword(s):  
Human Capital ◽  
Human Resource Development ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Technical Conference ◽  
Program Improvement ◽  
Lessons Learned ◽  
Colorado School ◽  
Gas Industry ◽  
Successful Model

This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper SPE 201272, “Lessons Learned in Developing Human Capital for the Oil and Gas Industry in Kazakhstan,” by Zhassulan Dairov, SPE, KIMEP University and Satbayev University; Murat Syzdykov, SPE, Satbayev University; and Jennifer Miskimins, SPE, Colorado School of Mines, prepared for the 2020 SPE Annual Technical Conference and Exhibition, originally scheduled to be held in Denver, Colorado, 5–7 October. The paper has not been peer reviewed. The World Economic Forum’s (WEF) Human Capital initiative has been implemented at Satbayev University (SU), Almaty, Kazakhstan, during the last 2 years. Participating in this effort are Chevron, Eni, Shell, and the Colorado School of Mines (Mines). The complete paper assesses the effectiveness of project components, such as industry guest lectures, summer internships, and program improvement, and provides lessons learned for human-resource-development initiatives. Introduction In most cases, the industry/ university alliance is intermittent, short-term, and underdeveloped. The engagement of three stakeholders, such as government, industry, and the university, is the most-successful model of joint performance. This approach allows all participants to create competitive advantages in the achievement of common objectives. Moreover, the role of governmental agencies is critical alongside professional organizations in facilitating such cooperation.

Improved Acoustic Quick-Disconnect Technology for Mooring Operations

2021 ◽  
Author(s):  
Jonathan Kent Longridge ◽  
Johnny Shield ◽  
Sarah Finn ◽  
Tom Fulton
Keyword(s):  
Shallow Water ◽  
Oil And Gas ◽  
Signal Transmission ◽  
Cost Savings ◽  
Oil And Gas Industry ◽  
Lessons Learned ◽  
Battery Life ◽  
User Friendliness ◽  
Mooring Lines ◽  
Reduced Risk

Objectives/Scope As the offshore oil and gas industry has changed, deep water Mobile Offshore Drilling Units (MODU) are commonly outfitted with dynamic positioning (DP) systems and on-vessel mooring equipment to facilitate drilling operations at ultra-deep and shallow water well locations. However, since many shallow water locations can experience harsh conditions and may require moorings for station-keeping performance, it is beneficial to enable a DP rig to quickly disconnect from its mooring system and avoid hazardous conditions without support vessel assistance. Providing this capability, acoustically releasable subsea mooring connectors allow a rig's mooring lines to be released remotely and almost immediately. Additionally, the ability to disconnect without Anchor Handler Vessel (AHV) assistance for mooring operations and rig transit support offers reduced risk and cost savings. Methods, Procedures, Process A brief review of existing quick-disconnect mooring devices will be presented. It will highlight how the technology has evolved and is being used, particularly in recent years. Successes, problems, and lessons learned from past InterMoor and SRP product development will be summarized and focused attention will be given to a significant number of more recent improvements to increase the product's reliability, availability, serviceability, and robustness. Improvements to ensure reliable long-term battery life and power supply, enhance on-vessel accessibility and user-friendliness for rig personnel, and employ advanced acoustic signal transmission, reception, and device status analytics will be discussed. External modifications to reinforce its robustness during deployment and internal electromechanical changes to facilitate its serviceability will also be described. Results, Observations, Conclusions A substantially lighter and smaller acoustically releasable mooring connector was developed two years ago, tested thereafter, recently deployed on several offshore mooring campaigns, and has now been upgraded to incorporate high-fidelity electronics with the ability to release under tension loads as high as 900 tonnes. As such, this second-generation device's reliability, accessibility, and serviceability are significantly enhanced. Results from offshore deployments from recent MODU and barge mooring operations will be summarized. This technology provides a safer way to quickly disconnect mooring lines and offers cost efficiency by allowing faster rig moves from one location to the next with reduced risk. Novel/Additive Information The paper will cover the work, challenges, trials, and tribulations required to bring a new product to market with cutting edge capabilities. Novel highlights will include the integration of a networked data transmission and communication system, the system's fundamental change from pneumatic to electromechanical actuation, and additional enhancements and improvements that are unique to mooring quick-disconnect devices and at the forefront of subsea technology.

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