Unleash Reservoir Performance Without Drilling New Wells

Tools that provide operators with solutions to impact production on their existing assets immediately.

(Source: Halliburton)

Since their collapse in 2014, oil prices are again rising for the first time. Driven by supply shortages from reduced investment, a declining number of wells and growing demand, operators worldwide face an opportunity to increase production to capitalize on the oil price super cycle. But how can operators make the most of this opportunity without drilling new wells?

On a global level, average oil recovery is only about 30%, meaning that most existing wells still have nearly 70% of proven reserves in the ground by the time a well is shut in or abandoned due to production decline. With recent advances in well diagnostics, customized chemistry and intervention services, these remaining assets can be brought online for an additional production life in a far more economical manner than ever before.  

Water is among the most prevalent factors responsible for the termination of many wells before their prime and accounts for nearly 75% of production from all oil and gas wells worldwide. Addressing this underlying issue at its source can profoundly impact well performance and help curtail other impairments, such as formation damage, precipitation of scales and organic deposits, fines migration, and solids production, which may also be remedied directly.  

In understanding the nature of these challenges, opportunities can be found to access these remaining reserves.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access