Development Plan Study of Austin Chalk Reservoir in East Texas
The technical team of V-petrotek conducted an evaluation work to the oil and gas property of KEM and BP which located in the east of Texas. It includes the exploration and development potential analysis, development planning and design, economic evaluation. The evaluation and analysis results will provide a reliable and valuable support for client making a prudent decision.
The Upper Cretaceous Austin Chalk is the main target reservoir in this area and it is confirmed to be oil-rich through the production data of the surrounding wells. The literature of Austin Chalk is carbonate and contains lots of natural fractures. Horizontal drilling could connect the fracture systems and drainage the reservoir more efficiently which gives a high production (The production of a horizontal well is 3 to 5 times more than that of a vertical well). One horizontal well of this lease was completed in 2014, its IP reached 1400 BOEPD which verified the development potential of this property.
15 horizontal wells are designed in this development plan and the IP of this lease is predicted to be 22000 BOEPD. It will give an excellent ROI based on the result of a 10-year economic evaluation. (Publish Date: 2016.8.25)
Self-developed Professional Evaluation Software------Do Help with the Evaluation of Oil-Gas Field
As the international oil price remains low, oversea oil-gas assets trading project is becoming more and more frequently. V-Petrotek, LLC relies on accumulation of oversea oil-gas projects for many years. According to the characteristics of oversea projects and SEC's assessment criteria, the professional software of value assessment---“Oil-Gas Field Comprehensive Economic Evaluation Software” is developed independently. The software can quickly calculate the PDP of single well or the block, quickly and accurately assess the value of project and help the decision makers to make the best decisions timely and effectively.
“Oil-Gas Field Comprehensive Economic Evaluation Software” can achieve rapid evaluation of the investment benefit under the condition of different price, different development plan, different production sharing proportion or mining tax contract model. The project economic evaluation report is formed rapidly at the same time which provides decision-making basis for policy makers. Compared with the traditional calculation, the software improves the work efficiency, improves the calculation accuracy, and have the function of management of all kinds of original and result data to facilitate future reference.
At present, V-Petrotek, LLC has applied the software to evaluate more than 40 oversea oil-gas assets deals. It has been recognized by customers with high time efficiency and high reliability. To better serve the value assessment of oil-gas projects, institute researchers are developing production prediction module. The software can also be increased custom modules according to the demand of customer or the project. (Publish Date: 2016.7.30)
“Multi-well correlation system” started trial operation
In August of this year, “Multi-well correlation system” was in trial operation stage, which has been researched and developed by V-Petrotek, LLC. On August 26 to 27, 2015, the engineers from V-Petrotek, LLC hosted Multi-well application training for 32 geology supervisors and Logging supervisors, in Cnooc engineering branch.
“Multi-well correlation system” has been running according to the flexible management method of our company. Multi-well has been designed to improve the efficiency of stratigraphic correlation, by management the data and the comparing results, correlation with computer.
The engineer explained and demonstrated the main function of the software，including data import and management, stratigraphic correlation, single well section, drawing output, server authorization, data download and upload. The engineer and the Cnooc geology supervisors and Logging supervisors communicated and discussed the method of the software. Finally, every Cnooc supervisor practiced the software on computer，and submitted a qualified achievement. The supervisors has mastered the Multi-well software and believed that the software will helpful in geological and well logging supervision work.
For V-Petrotek, LLC, “Multi-well correlation system” is the first project in Cnooc engineering branch market. The success of the project implementation has laid a solid foundation for looking for more cooperation opportunities with Cnooc engineering branch. (Publish Date: 2015.9.5)
The project “Development adjustment plan composing of Hart Oilfield” is carring out comprehensively
HART Oil & Gas LLC started the bankruptcy due to financial problems in October 2013. HART oilfield renamed LanMa oilfield after Lan Ma‘s Oil & Gas LLC taked over in March. After that Lan Ma‘s Oil & Gas LLC entrust our institute to do the geological characteristics and reservoir engineering research work.
The field is located in northwestern San Juan County, New Mexico, including four lease area, which are Horseshoe Gallup, Many Gallup, Mesa Gallup, Many Gallup North.Currently, there are the following main problems in the developing process of the oilfield. The degree of well control in the edge of the lease is low. Reservoir distribution is difficult to understand. Development process is unclear.Many wells are closed and the well pattern is not perfect. The degree of reserve recovery is low.The development situation is not optimistic because of the above problems.
Project is aimed at that on the basis of recognition of geologic reservoir features and comprehensive analysis of reservoir engineering of the four lease area, can do the research of the geological reserves evaluation, development effect evaluation and remaining oil distribution law description. Finally complete the development adjustment plan composing. The research result can provide the foundation for the future development of the oilfield and increasing economic benefit.
The research content of the project include: (1) Research on geologic reservoir feature and establish database, including the study on formation characteristics, structure,reservoir characteristics,oil pool characteristics, the reserves evaluation and geological modeling; (2) Tracking and adjustment of the development plan, including the study on the development process and the present situation, development effect evaluation, remaining oil distribution, potential analysis of the historical wells, the existing problems in development process and the technical strategy to improve oil recovery, and development adjustment plan design; (3) New well location application composing, including new well location application composing of the four lease area.
Since the Project start, up to now, we have completed the following research work. (1) Reserve estimate of the four Lease area in LanMa oilfield; (2) Development adjustment plan composing of Many Gallup North Lease area and the Mesa Gallup Lease area in LanMa oilfield.
On the basis of the above research results, the work contents in the next stage is that improving the reserves evaluation report of Many Gallup, Horseshoe Gallup, Mesa Gallup and the Many Gallup North Lease area; composing development adjustment plan of the Horseshoe Gallup Lease area.
.(Publish Date: 2015.6.10)
The project “Comprehensive research on the development of Bear Creek Oilfield” is underway Comprehensively and orderly
The project “Comprehensive research on the development of Bear Creek Oilfield” is that our company undertake from Bear Creek Oil Company. The project was officially started in December 2014.
Currently, there are the following main problems in the developing process of the oilfield. (1) Reserve implementation degree is low; (2) Reserves are out of control because of the oil wells off; (3)The degree of reserve recovery of the block is low. The development effect is poor. That restrict the further development of the oilfield.
Project is aimed at that on the basis of comprehensive geological research, make definite the geologic reserve and the development potential of the Bear Creek oilfield by research of the reserves evaluation, development plan composing and economic evaluation. That can provide basis for the investors to determine whether to invest in the oilfield. By research on the tracking and adjustment of the development plan and the new wells deployment, it can provide the foundation for the future development of the oilfield and increasing economic benefit.
The project mainly conduct research on the following contents. (1) Reserves evaluation and economic evaluation, including earlier geologic research, development plan design and the Economic evaluation of the development plan; (2) Tracking and adjustment of the development plan, including production performance analysis and the recognition of geologic reservoir features; (3) Single well design, including drilling design of 5 wells and the commissioning design of the new wells.
Since the Project start, up to now, we have completed the following research work. The first, we have finished all the research work of the reserves evaluation and economic evaluation, and have submitted the report “Reserves evaluation and economic evaluation of the Bear Creek Field”; The second, we have done the research work of the subdivision reserves evaluation in lease zone, and submitted the related reserves evaluation report; The third, have completed the potential analysis of 9 historical wells and submitted the material “Measure analysis of the historical wells of Bear Creek Field”;The forth, have completed 8 new wells optimization within the leasing area and have submitted the “New wells optimization of Bear Creek Field”.
On the basis of the above research results, the work contents in the next stage is that tracking implementation condition of the historical wells and the new wells. And according to the implementation condition, adjust the preliminary geological and development research work.(Publish Date: 2015.06.05)
Company professional participate in Petrosys trainingin Australia
In December 1, 2014,theOil&GasExploration and Development Research Institute of Victorysoft professional Meng Lin and Sun Xiulingwent to Adelaide to accept 5 daysPetrosys software trainingin Australia. Jason introduced the softwaredetailedly, including Mapping, 3D Viewer, Surface Modeling, Seismic, Wells, GIS six functional modules.
The training was designed to study the specific software operation for the application of client software trainingand overseas related projects. This training is not only the learning function of the software, the user experience and the stability of the software development are worthy of our software R & D personnel reference.At the same time, training instructors strict solid professional spirit and training material are also worthy of software training personnel and related professionals to learn.(Publish Date: 2014.12.19)
Report on V-PETROTEK Attending the Exhibition of SEG International Annual Meeting of 2014
The exhibition of the 84th SEG international annual meeting was held in the Denver, Colorado, USA, from Oct 26 to 31, 2014. As the world's largest industry event of oil, energy and mineral exploration, SEG is the very arena to display the development and the application of the edge-cutting technology on geophysical exploration and related industry. And this is the second time for V-PETROTEK to attend this meeting.
Fan Chonghai, the head of V-PETROTEK American branch, gave a thorough introduction on the technology and service which customers concerned a lot. On one hand, this exhibition provided us a great opportunity to get to know the advanced technology and its development trend at home and abroad. On the other hand, it is also a good chance for us to introduce our comprehensive technology and service capacity to clients. There were many of the clients expressed their will to cooperate with us in the near future. (Publish Date: 2014.11.11)
PETROSYS Software Exchange
In July 8th,a group headed by Mike Brumby, the director and sales manager of PETROSYS Company were invited to the Western New Area Research Institute of Shengli Oilfield and the Oil&Gas Exploration and Development Research Institute of VictorysoftCo.Ltdto to exchange PETROSYS software technology. Mike Brumby introduced the main function and characteristics of PETROSYS, which has unique advantages in map drawing and connection with external database and other softwares. The Western New Area Research Institute showed a strong interest in the PETRASYS software, and installed the trial version. Research Institute analyzed the domestic market situation with Mike Brumby and exchanged views for further cooperation..(Publish Date: 2014.7.11)
A training of Reservoir Stress Analysis Software in Production Technology Institute of ShengLi Oil Field given by technology experts
Zhou Linshuai, who was from Institute of Petroleum Exploration and Development of victorysoft Company, organized a training for "SAOR Reservoir Stress Analysis Software V1.0" at the conference room in production technology Institute of ShengLi Oil Field On May 21, 2014. More than 30 technicians and experts who were from Oil Fracturing and Completion of Production Technology Institute attended the training.
This training started with popularizing the basics of conventional well logging, demonstrated the function and operation process of "SAOR Reservoir Stress Analysis Software", which was independently researched and developed by the Victorysoft Company. Computed instances of different well types, and discussed particularly the core algorithm and main features of the software. An Interactive teaching was performed during the training ,all the questions were answered by Zhou Linshuai, which made it come true to communicate and exchange effectively
After the training, users can fully understand the technological advantages and features of "SAOR Reservoir Stress Analysis Software", which laided a good foundation for the better utilization and function extension for the software.(Publish Date: 2014.6.11)
Training on the Steam Injection System Optimization Software for Consumers
The technical staffs of oil production and steam injection teams coming from the Binnan oil production plant of ShengLi Oil Field were trained by Minhui Li on the VIS Steam Injection System Optimization Software V1.0 on May 28.
The VIS Steam Injection System Optimization Software V1.0 was one of the new products independently researched and developed by VictorySoft Co., Ltd. which can find out the lower efficient and higher energy consumption part, and exploit system energy-saving potential via establishing steam injection system thermodynamic model and analyze operation parameters and energy-consumption parameter in the process of steam injection. During the training, all kinds of functions and using skills of the software had been shown, and the energy-consumption calculation parts were introduced in detail. The software operation was presented using field testing data, and strong interest was shown by technical staffs. At last, they discussed about the software.
|The users have fully understood the software functions and features, mastered the operation methods after the training. some suggestions and comments have also been collected which could provide effective guidance in promoting the application.(Publish Date: 2014.6.11)
The project Comprehensive governance research of buried hill reservoir in Lungu 7 and west Sangnan undertaken by the Oil&Gas Exploration and Development Research Institute of Victorysoft has gone through Sinopec Tarim Oilfield branch for review and acceptance on May 9th, 2014. 26 judges have heard the project director's report and given high marks on the solid work and multiple research results. This project has been accepted with straight-a grades.
The project mainly conducted research on reservoir comprehensive treatment of two major blocks-Lungu 7 and West Sangnan of Lungu Oil Field. Based on the tag sort and mode recognition of seismic reflection, the team completed the new recognition of reservoir characteristics, fracture-cave system, and fracture-cave cell division and evaluation. According to analysis and evaluation of the reservoir development characteristics, the team ensured the stable yield potential and suggested measures of a batch of new well target location in combination with residual oil distribution pattern and effect assessment. The team also compiled a set of comprehensive adjustment scheme to provide a reliable basis for stable production deployment of Lungu Oil Field. These research results have great guiding significance for the stable and increase yields of carbonate reservoir in Tarim oil field.
(Publish Date: 2014.5.26)
On December 20, 2013, the project “High Quality Reservoir Prediction and Target Recognition in Mobei-Mosuowan area”, which our institute undertake from Geological Science Research Institute of Karamay Oilfield, is successful through the acceptance examination.
On December 26, 2013, the project “The Comprehensive Management of Burial Hill Reservoirs in Lungu7 and Sangnanxi Block” is successful through the acceptance examination and the research results get the client’s approval.
On January 7, 2014, the project “Comprehensive Geological Studies and Well Deployment Suggestions in WeiBei Oilfield (The Second Phase)” is successful through a medium-term acceptance examination and the research results get the client’s high praise.(Publish Date: 2014.1.10)