What does traditional simulation vs. OspreyData Production Intelligence Solutions look like? With regards to Manual Optimization, for each well, an expert engineer has to spend up to one day to find the appropriate metadata, cleaning other data, entering it into the simulation software and building simulation models. For an unconventional well with high decline rates, updating the model on a bi-monthly basis may be necessary to generate a new gas injection recommendation. We have seen wells which have dropped from 400 bbl/day in January to 200 bbl/d in March, and to 100 bbl/d or lower by June, and to 40 bbl/d in December.
As there are continual changes in GOR, Water cut, etc, the injection rate needs to be updated regularly. If there is a workover, the design changes and the simulation models need to be completely updated through a redesign. If done right in the manual way, this may take up to 1 week every year per well per engineer for this process.
So how do engineers keep up with this? There are so many wells that the engineer may be forced to prioritize or skip a few wells. They may be using an average or doing engineering supposition of what may be representative values for a well, or they may not be doing simulation at all. They may use decision-based or experience-based thumb-rules for setting injection rates.
OspreyData’s methodology automates data collection, ingestion, cleanup, and also model design and selection. This offers a hands-free approach. Further, the models are updated with changes in production conditions, workovers, restimulation, and frac-hits. This helps with reallocating engineers time (which is really valuable), especially in fields with 300 wells or even 1000 wells. OspreyData’s methodology helps optimize wells dynamically, simultaneously, and in real-time, all the time.
If you want to maximize your oil production and increase your ROI, contact us to set up an appointment with our sales team to discuss easy implementation on your oilfields. We say easy because Production Unified Monitoring is a cloud-based tool that can be accessed from any web browser without any hardware or software installs, meaning there are no capital expenditures. Contact Us Today!