Asset teams understand why regulatory compliance in the oil and gas industry is crucial to successful business operation and yet, many companies find themselves on the wrong end of compliance due to mistakes that could’ve been avoided with accurate analysis beforehand. In 2018, one of Colorado’s second-biggest drillers by oil volume, incurred a $1.6 million…
Seismic surveys and greater computational power are allowing operators to acquire, process, and interpret geologic data more cost-effectively and provide increasingly detailed information regarding fault distribution and subsurface structures. Iterative seismic surveys conducted during the course of oil field production provide additional benefit in revealing subsurface changes that guide reservoir characterization and modeling, as well…
Time is a crucial factor when maximizing hydrocarbon assets for all team members involved, especially when operating under tight deadlines. Analysts must develop viable extraction strategies to recover upfront costs while making a healthy profit. Engineers need fast and accurate analysis that will hasten the development phase, leading to efficient extraction campaigns in the short-term.…
Because of varying conditions in the subsurface, drilling engineers understand the importance of using the most accurate geological models and reservoir simulation in well planning. The best way to understand the drilling environment is through the use of geological and reservoir simulation models in a co-visualization environment. It promotes 3D and 4D visualization of a…
One sure way to minimize risk, regardless of the situation, is to obtain as complete and accurate information as possible regarding the activity you‘re engaged in or the decisions you need to make. In some instances, risk management can be relatively easy—lock your doors when you leave the house, wear a seatbelt in the car.…
Data-gathering and processing can be a laborious task that requires extensive expertise. But the best software offers easy-to-read data to personnel, irrespective of their discipline or specialty. Analysts need data visualization tools that merge data across multiple disciplines in the oil and gas industry, helping users make sound decisions that enhance upstream or downstream campaigns.…
Enhanced computing power, wireless technologies, and instrumentation of production assets have fostered the acquisition and generation of ever-greater volumes of data throughout the life of an oilfield. These data can include geophysical, geologic, cellular property models, reservoir simulations, drilling, production, seismic attributes, structure and properties, and well logs. From exploration through decommissioning, nearly every discipline…