Key findings to be unveiled at the 2012 SPE Annual Conference in San Antonio, October 8-10
DENVER--(BUSINESS WIRE)-- Transform Software and Services, a recognized industry leader in analytic interpretation and modeling of conventional and unconventional petroleum resources, recently completed a pair of detailed analytic studies of well production variability in the Eagle Ford and Bakken/Three Forks plays, located in Texas and North Dakota, respectively. The studies reveal various metrics and indicators that will enable operators to benchmark their well performance with other operators in the two most active unconventional plays, identifying opportunities to improve productivity and business performance.
Utilizing E&P data and information reported to the Texas Railroad Commission and North Dakota Industrial Commission, Transform composed detailed well performance databases with initial production, engineering and geologic data. Through the use of Transform’s MVStatsTM analytic software, relationships were identified to aid in the prioritization of acreage development and optimization of wellbore drilling and completions. These databases are designed to expand with proprietary operator data, for more detailed assessment of well production drivers.
“Using our analytic interpretation and modeling software, these studies were created to provide insight into the variability and impact of well locations and wellbore construction in two established, heavily-engaged fields,” noted Murray Roth, President, Transform. “The use of analytic software techniques slices through E&P data overload and allows enhanced modeling of geologic and engineering effects, in essence ‘connecting the dots’ to provide metrics to help guide more optimal decision-making. After thousands of wells by numerous operators, it is clear that the Eagle Ford and Bakken/Three Forks plays are complex and in need of modern analytic techniques to benchmark well performance.”
Transform has launched deployment of these analytic databases with leading operators working unconventional plays in Texas and North Dakota; augmenting engineering data with reported or interpreted geologic formation tops, used to map major formation thicknesses and depths. These projects are established as ‘living databases’, with operators agreeing to an initial purchase and annual subscription to accommodate continuous updates and enhancements.
Transform will present the databases and related key findings in conjunction with theater presentations at the SPE Annual Technical Conference & Exhibition 2012 in San Antonio, 8-10 October. View the booth presentation schedule for exact dates/times.
Transform Software and Services, Inc. is the leading software innovator in the E&P industry, targeting major unconventional and conventional reservoir challenges. Established in 2004, Transform has developed robust visualization, interpretation and oilfield analytic technology spanning geophysical, geological and engineering workflows for tight-oil and gas, heavy-oil, and most conventional reservoirs. Transform’s software suite is powered by the company’s proprietary analytic interpretation and modeling (AIM) platform, and is specifically designed to integrate, automate, broaden and simplify interpretation and analysis of E&P data for sweetspot targeting and well production optimization.
Source: Transform Software and Services