Benchmarking Reserve Estimation by Comparing EUR Variability Across the BC Montney May 28, 2014 Jake Thompson, Development Engineer jthompsonblackswanenergy.com Presented at: Reserve Estimation Unconventionals REU Canada 2014
Black Swan Energy Overview Well-Financed Junior 350 MM equity line; financing closed March 2011 150 MM equity line; financing closed November 2013 Experienced Management Management team with deep and diverse experience in the Western…
Montney - Unconventional Resource Play Black Swan Beg A-020-H/094-G-01 Upper Montney Thick, Gas-Charged Resource 60m Montney 250 m thick Up to 4 Hz intervals Early to Middle Triassic aged Lower siltstone Aitken Montney…
BC Montney Fairway Significant development over a large area The emergence of the Montney as a premier North American resource play is largely a result of its repeatability and predictability 1500+ Hz Montney Producers…
Large variability within a field, but a similar average across the fairway Large variation in results within each developed field The average is remarkably similar across all fields despite significant differences in depth,…
Decline behaviour also consistent across the BC Montney Long term well performance and decline profile similar across the Montney Decline does not change materially between low & high rate wells (unless restricted) Can…
Test rates predict long term production with accuracy For new fields, bringing wells on production quickly is not always possible Strong correlation between flow test and long term production allows estimation of recovery from…
Type curve developed using production across the fairway Black Swan developed a type curve by normalizing production for all Montney wells in BC The average well has an IP30 of 3.6 MMscf/d and an EUR of 4.6 Bcf The type curve…
Case Study North Montney Upper Montney Results Variability of results over short distances is apparent Productivity appears diminished in the oil window The entire area is clearly productive in the dry gas and liquids-rich…
Successful de-risking strategy has resulted in significant reserve bookings Black Swan entered the play in 2011 through crown land sales and has acquired a 206 net DSU position. Targeted a liquids-rich and low cost area to achieve top…
Next Steps Improving Results Huge upside if technical work can allow operators to accurately predict above average locations Black Swan is currently using a variety of techniques including seismic inversion, XRF, curvature…
Conclusions Using statistics to evaluate trends across a large fairway is an important tool to quantify reserves when developing a new field. Accurate estimation of long term productivity from short duration tests provides confidence…
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