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9 BCF Field Development Opportunity Identified by SigmaSM Process using ANN TechnologyLocation: TexasOperator's ChallengePrize Operating Company purchased a Granite Wash field in Roberts County, TX, and planned for infield gas development. Unfortunately, the first four well completions resulted in less than satisfactory production. The operator, faced with cancellation of further drilling plans, asked Halliburton to help determine if the field was commercially viable. Halliburton's SolutionWorking closely with the operator, Halliburton, using its Sigma process, conducted an in-depth study of completion methods, reservoir characteristics and associated production from Granite Wash completions in the area. Patented artificial neural network (ANN) technology plus genetic algorithm technology were used to interpret engineering data, evaluate well potential, and establish completion guidelines. Based on this analysis, Halliburton proposed an integrated solution with compensation tied to a production benchmark. The integrated solution included all openhole and casedhole logging, acidizing, fracturing, and tool services on the well. Initial production exceeded 2 mmcfd, exceeding the rate required for a commercial well. Economic Value CreatedIncreased gas production from the well generated an additional $400,000 economic value during the first year of production. Similar results on five subsequent ANN optimized completions support further development of this field, potentially increasing recoverable reserves by 9 BCF.
This graph illustrates the typical improvement in NPV (Net Present Value) per well achieved by Prize Operating Company after applying artificial neural network (ANN) technology through the Sigma process. |
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