Oil & Gas
‘Energy Transition’ and ‘Peak Oil Demand’ are popular terms today, not without validity. Yet … oil demand is recovering, approaching pre-COVID demand levels of 100+ MMbbl/d. The global production base, much of which flows from aging fields discovered decades ago, declines 5+% annually. For unconventional fields, initial decline rates approach 40%. Recent geopolitical events emphasize the importance of energy security.
To avoid an energy crisis, we must continue O&G investment. This means exploration. This especially means maximizing recovery from existing fields, using detailed geologic interpretation and implementation of improved/enhanced recovery methods. Average recovery factor for oilfields worldwide is <30%.
We can do better!
Successive stages of project maturation require different skills and competencies -
Field Development Planning
Execution, Monitoring and Re-definition
It may not be practical for firms to maintain all of these capabilities full-time.
APEX Subsurface Consulting can help!
The founder has experience in all phases of the value chain. The founder is well-connected in professional organizations such as the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Engineers (SPE) … with a network that includes top-notch specialist talent in geoscience, reservoir engineering, drilling, production technology and more. Access to sophisticated software solutions through cloud computing and Software-as-a-Service (SaaS) helps us deliver advanced solutions in a cost-effective manner.
Producer Subsurface Needs
Accurate assessment of in-place volume ranges, with sensitivities for key variables
Detailed understanding of permeability architectures that control flow rates for fluid production/injection
NPV/IRR economics data to optimize development scheme, well count and well placement
✅ Regional and local opportunity screening
✅ Subsurface input for Front-End Engineering and Design (FEED), pre-sanction ... interpretation and/or simulation.
✅ Proposals for (re)development later in field life, i.e. infill drilling and reservoir management
Value at Every Stage
At early stages of a project, analog studies and competitive intelligence (using collective industry experience) are most cost-effective. At intermediate stages, data collection and integration come to the fore. The best-designed data acquisition campaigns are shaped by geoscientists in collaboration with engineers, and reduce high-sensitivity uncertainties with the biggest impact on project value – reservoir rock volume, porosity, permeability distribution, geomechanical properties, fluid content and temperature, etc. Simple modeling may progress to detailed modeling as uncertainty analyses warrant.
If analog and empirical data appear favorable, a significant component of fit-for-purpose reservoir simulation may be required to improve the robustness of project economics across a full range of uncertainty, in greenfield and brownfield (post- first production) settings. Modeling may entail static (geologic) modeling and dynamic simulation, at full-field or sector scales. The founder of APEX Subsurface led an initiative related to model streamlining at a major/international O&G producer, focused on uncertainty reduction and development optimization. Model output feeds directly into cash flows and economic forecasting.