Physics-Based MVA Helps Completion Optimization August 17, 2017 Leen Weijers, VP Engineering Liberty Oilfield Services
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We Minimize /BOE in Partnership with Customers Theres a fine line between a numerator and a denominator, Yogi Berra Cost per Barrel (/BOE) NPV () Well Cost (), Cost per Barrel (/BOE) Well Cost () Time Production (bbl)…
Completion Optimization Tools Big Data Visualization Big Data Statistics Calibrated Frac and Reservoir Modeling Proppant Mass (Lbs/ft) Completion Parameters Open/Cemented Liner Production % Change Production %…
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Frac Trends Viewer Central Basin Graphical Production Evaluation vs Dozens of Completion and Petrophysical Parameters Bi-Variate plots: Poor correlation coefficients (R2)
MVA and Completion Optimization Improving Well Production and Minimizing Operator /BOE Determine independent completion and petrophysical relationships with production metrics Rigorous MVA eliminates parameter dependencies Determines…
Building a Statistical Analysis from Public Data For Dads Buying Their Kid a Car Multi-Variate Analysis (MVA) Car Price vs Year Built Car Price vs Mileage Better model mileage Poor model drives price MVA Car Price Model: Car…
Regular MVA vs Physics-Based MVA
Visual Evaluation vs Linear MVA Linear MVA: Improved correlation coefficients (R2) Linear MVA Model: Production = a1 x1 + a2 x2 + a3 x3 + . + an xn + b
Visual Evaluation vs Linear MVA vs Physics-Based MVA Physics-Based MVA: Improved correlation coefficients (R2) Physics-Based MVA Model Production = c1 x1 + c2 x2 + c3 (ln(x3)) .+ cn xn + d
/BO Optimization Central Basin Middle Bakken Central Basin Middle Bakken Parameter Optimum Values Averages Proppant Mass (lb/ft) 750 378 Stage Length (ft/stage) 200 316 Avg PPG (lb/gal) 1 1.16 Rate (bpm) 100 44 Total Well Cost…
/BO Optimization Central Basin Middle Bakken
Cost Model Optimization Williston Basin Best Bang for Your Buck Completion Changes in Various Williston AOIs Williston Basin Well Cost % Well Cost Increase to Increase Production by 10% Sensitivity Summary Completion Central Central Ft…
Physics-Based MVA Model Improvements Improving Well Production and Minimizing Operator /BOE A hybrid MVA model with transformed completion parameters based on physical relationships results in more realistic predictions of well…
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