One of the largest U.S. based independent natural gas and oil producer this energy company is a pioneer and innovator in its own industry. The company’s operations are focused on North American onshore exploration and production, engaged primarily in horizontal drilling and hydraulic fracturing to produce crude oil, natural gas and natural gas liquids.
Challenges and Objectives:
One of the main challenges that this company faces is quantifying the influence that proppant has on well production. The goal was to optimize cost savings without reduction in production. The analysis showed that reducing proppant in well excavation provided the highest level of cost performance. Detailed analysis focused upon the influence of proppant types and volume in relation to production variations.
Qualex was able to analyze over 9,000 well data sets to identify the variables with the greatest influence on well production. Qualex provided a detailed predictive analysis on the differences between best/worst performing wells, including segmenting groups/intervals within variables to explain the excessive proppant usage over a 12 month period. The resulting analytics predicted a best case scenario report which included comparison between best and worst production rates on specific targets against proppant types and volume that equated to cost saving of over $14 million on only 200 wells. Qualex also provided a report that predicted the variables that had the greatest influence on well production. Futures studies are to include environmental impact analysis.
Outcome and Results:
This Energy company gained a 30% savings on two particular regions and a county demographic analysis that provided a report on specific optimizations for well production.
Qualex Consulting Services, Inc. is a technology and professional consulting company founded in 1995 has been dedicated to providing a wide range of Predictive Analytics Consulting, Information Technology and Communications related products and services.
For additional Information contact: Kevin Dillon, Director of Oil, Gas and Utility Practice.