2017 SEG International Exposition and 87th Annual Meeting
The Role Super Basins Will Play in Upstream’s Future
The Upstream business is heading into a transition driven by Super Basins, a new significant option for supply that is short-cycle and provides scale, repeatability and efficiency.
IHS Markit defines Super Basins as basins that contain a minimum of 5 BBOE produced hydrocarbons and at least 5 BBOE in remaining potential in a mixture of tight and conventional rocks. They contain stacked pays, extensive existing infrastructure and market access. They also offer continuous performance and cost improvement via application of technology and innovation. Super Basins have taught us to challenge old ideas such as reservoirs types, recoverable hydrocarbon volumes and the way fluids move through the petroleum system. But like most things, Super Basins have a range that can be grouped according to size with the largest onshore, dominantly in foreland basins with both conventional and tight rock potential.
Offshore there are other Super Basins but they generally do not have the tight rock potential of onshore Super Basins. The archetype for the onshore Super Basin is the Permian Basin with some 37 BBOE produced and more than 60 BBOE remaining.
A look at the top 25 Super Basins suggests a potential of some 859 BBOE with key Super Basins located around the world. With this scale and potential, Super Basins show the most potential as a new supply source, one of which will serve as a supply disrupter.
This talk will look at the Permian Basin as well as where the other Super Basins are in the world.
Kingdom Geosteering: Accurately Positioning Wells in the Target of Interest Using Kingdom’s Enhanced Geosteering
The technical objective of horizontal drilling is to expose significantly more reservoir rock to the well bore surface than can be achieved via drilling of a conventional vertical well. Traditional geosteering tools provide techniques for determining where a horizontal well should be located within a specific formation and for predicting the geology ahead of the bit to aid in adjusting the well's trajectory. However, these tools rely heavily on well information to feed their decisions, and rarely integrate efficiently with the interpretation software that is used to build the subsurface models. In this presentation, we will show you how Kingdom’s Enhanced Geosteering provides a unique set of capabilities that enable geosteerers, geologists, drilling engineers, and geophysicists to effectively collaborate within a single environment, and accurately position wells in the target of interest. This integrated approach dramatically reduces the cycle times associated with updating the subsurface structural and stratigraphic models.
What's New in Kingdom 2017
- This session will focus on the exciting new features and enhancements that are part of Kingdom 2017, including:
- Layer based mapping and montage layouts in Spatial Explorer
- New Frac Treatment Database
- A re-write of the Well Query dialog
- New IHS Markit E&P Data connections
Improve Well Placement and Volumetrics with Kindom VelPAK
VelPAK enables you to easily create a Best Technical Case velocity model, subsequently creating a series of stochastic realizations that will mitigate against misplaced wells, help you avoid targeting the wrong parts of the reservoir and this information can be used for improved reservoir economics forecasting and reservoir monitoring. Come and see how we can help you make the right decisions in depth.
Improve your Understanding of your Reservoir with Kingdom Seismic Inversion
Kingdom Seismic Inversion provides you with the ability to quickly, easily and powerfully perform a high quality post-stack inversion. This is an ideal prospect evaluation tool as the results may save you having to perform a pre-stack inversion. Come and learn about the theory behind this technique and see the results for yourself.
Transforming Seismic Data into Reservoir Quality Information in Unconventional Plays
Seismic data provides valuable information for all stages of exploration and production because it carries signatures related to lithology, fluid, and in-situ stress. In this presentation, we will explore the feasibility of using seismic attributes to discriminate porosity, lithology and fluids/TOC using seismic inversion and AVO. When modeled properly, these key determining factors for identifying sweet spots allow companies to focus leasing and drilling activity in the areas where production and recovery rates are the highest. Kingdom modules used in this presentation includes AVO, Seismic Inversion, RSA and GeoSyn.
Testing and Implementing Kingdom in a Remote Virtual Desktop Infrastructure and Public Cloud Environment
Kingdom is a powerful tool used by energy companies the world over, many are contemplating the convenience and cost savings of implementing Kingdom and similar applications in a Virtual Desktop Infrastructure (VDI) or public cloud environment. Such an environment would make Kingdom available to users in remote locations, promote collaboration and reduce the need for local high-end hardware. IHS Markit and partner Dell-EMC have tested both Kingdom and Petra and have documented adequate performance levels for both 2D and 3D accelerated graphics for up to 10 simultaneous users on a single VDI unit. In addition, an IHS Markit customer has implemented a production Kingdom environment on Microsoft’s Azure Cloud solution. In this talk, we will discuss the hardware and software configuration of the Dell Environment that we tested on, as well as our continuing testing efforts with Dell. We will also touch on some particulars that you need to consider as you contemplate going to the Cloud. IHS Markit realizes the importance of this developing technology to our customers, and we will welcome audience feedback on hosting ideas and needs.
Screening Upstream Assets for Expansion Options in Mexico
With the continual presence of high costs projects combined with low oil prices in the industry, opportunity identification has become a highly selective process. Using IHS Markit Upstream Asset Evaluation solutions, we will demonstrate how to evaluate and see forward looking views of production, investment requirements and valuations of portfolio projects.
Benchmarking STACK Key Metrics for Forward Looking Asset Valuation Views
This presentation session begins with a review of the operational landscape by understanding performance of key metrics for operators in the STACK play. Following, we will identify key targeted assets for upstream valuation and benchmarking from understanding play dynamics and key operators.
Balancing Ultimate Oil and Gas Recovery with Individual Well Profitability in the Permian Basin
Permian Basin rig counts dominate the U.S. unconventional scene, and operators continue to tune their wellbore lengths, frac intensity and chemical mixtures. However, as focus shifts to field development, Permian stakeholders are challenged with choosing economically viable targeting and spacing strategies. Using a GDS-derived geologic framework and production and drilling/completions from Enerdeq Browser - we identify prime Permian development zones and vertical/horizontal spacing patterns that balance ultimate oil and gas recovery with individual well profitability.
Maximizing Insight into Production Performance in the Permian Basin
Understanding play dynamics and a wells performance and productivity is critical to maximizing the potential of the best producing benches in the Permian Basin. In this presentation, we will benchmark the production performance from Permian benches using Performance Evaluator data and Spotfire. The identified high potential areas will be structurally redefined and additional geological and engineering properties will be calculated in Kingdom and analyzed in Spotfire. The combined results will be used to define new prospecting areas as well as to predict production performance in the future wells.
Integrated Workflows between Kingdom, JewelSuite and IMEX
IHS Markit, Baker Hughes, a GE company, and CMG offer a new choice for your integrated unconventional workflows that leverage industry-leading software for geological characterization, reservoir modeling, production data analysis and reservoir flow simulation.
The Permian Basin: A Workstation-Ready Basin Assessment at Your Fingertips
The Permian Basin is one of the hottest basins for oil and gas production in the world today. It contains numerous stacked pay opportunities, allowing for companies to have the ability to drill through multiple reservoirs on the same acreage. Because of these geological merits, an existing collection of pipelines, and a deep inventory of profitable locations under a lower commodity price scenario, investors and operators continue to be attracted to this area. These qualities have led quite a few companies to look for the most productive way to start up, or ramp up, their exploration efforts here. In this presentation, we are going to take a look at one of our new methods of assisting those who want to get started in the Permian Basin, expand lease holdings, or look for a second opinion on a current analysis. We are able to address these needs with our new, cutting edge, Permian Basin Project, built within the Kingdom Software. This project allows companies to make accurate decisions quickly in a fast paced environment, while solving for many of the industries business problems around data, analysis and interpretation.
Log Analysis Techniques in Petra – Examining Stacked Pay in the Delaware Basin
The Wolfcamp Formation offers stacked pay potential, consisting of six possible target zones for horizontal drilling, designated in stratigraphic order as the A, B, C (upper and lower) and D (upper and lower) benches. By utilizing petrophysical data, and aspects of interpretation in the Petra Software, insight can be gained into where the Wolfcamp holds its current prospective value and how much future development potential it may have. Combining petrophysical models, log calculations, and cross plotting methods, with available well and log data spanning the Delaware Basin, an accurate assessment of the key reservoir characteristics of each zone can be generated.
Log Analysis Techniques in Kingdom – Examining Stacked Pay in the Midland Basin
The Wolfcamp Formation offers stacked pay potential, consisting of six possible target zones for horizontal drilling, designated in stratigraphic order as the A, B, C (upper and lower) and D (upper and lower) benches. By utilizing petrophysical data, and aspects of interpretation in the Kingdom Software, insight can be gained into where the Wolfcamp holds its current prospective value and how much future development potential it may have. Combining petrophysical models, log calculations, and cross plotting methods, with available well and log data spanning the Midland Basin, an accurate assessment of the key reservoir characteristics of each zone can be generated.
Brazil Round 14 Results, Upcoming Mexico Round Potential
With the recent 14th round concluded, a round offering 287 blocks that cover 122k km2 in 5 offshore basins and 6 onshore basins, it is safe to say that Brazil is back. The round was designed to attract new small to medium sized companies in an attempt to open up the industry. These results will be a good international exploration barometer since the blocks included frontier to mature fields both onshore and offshore. Additionally comments will be made relative the upcoming Mexican unconventional round.
Rethinking data management: New strategies for extracting maximum value from your datasets
With firms under pressure to do more with less, there has never been a more important time to ensure you are making optimal use of your complete data universe and basing your decisions on accurate data. During this session, we will demonstrate how IHS Markit Enterprise Data Management (EDM) platform enables you to do this by centralizing all of your data and integrating it with different analytical tools, including Spotfire and Power BI. We will showcase EDM's support for geospatial data analysis, data governance and exceptions reporting, with a focus on seismic, well(s), GIS and Kingdom data. Join us to learn how you can optimize your approach to data management.
Brazil and Mexico Bid Rounds – Fast and Furious
Brazil and Mexico are holding bid rounds, farm-outs, and asset sales at a pace never seen before in Latin America. The two countries are in some respects in competition with each other for the limited industry capital for these multiple opportunities. Both countries have made improvements to fiscal and regulatory terms and announced significant changes to their bid round strategies moving to predictable multi-year bid round schedules. Some problems remain with environmental and political issues.
For Brazil, the government has adjusted its fiscal and regulatory regimes for Concession and PSC contracts to be more attractive. In 2017, there will be two PSC rounds and one Concession round. In 2018 and 2019, there will be three bid rounds per year, one Concession, one PSC and one Marginal Fields. Currently the ANP Round 14 was launched for 287 blocks on 18 May 2017 with a bid submittal date of 27 September. A total of 32 companies have qualified to participate.
The highlight of the bid rounds in 2017 will be the pre-salt area in the Greater Campos Basin. The 2nd and 3rd Pre-Salt PSC rounds were launched on 5th July 2017 with both having bid submittal dates of 27 October. There are four blocks available in the 2nd round and four blocks available in the 3rd PSC round. Petrobras exercised its preferential rights to be operator with 30% working interest in the Sapinhoa block in the 2nd PSC round and for the 3rd pre-salt bid round Petrobras chose the Peroba and Alto de Cabo Frio Central blocks to be operator representing half of the blocks in the round and probably the best blocks on offer. Additionally for Brazilian opportunities Petrobras has announced significant asset sales both onshore and offshore in 2017 after initiating a new more transparent system in June 2017. More asset sales are expected in the future.
On 2nd March 2017, SENER published its revised bid round strategy. The key points are that there are 537 blocks selected by SENER available for nominations and qualifying has been simplified. Originally the plan was to hold two bid rounds per year, one for shelf and onshore conventional blocks, and one for deep water and unconventional blocks. However, this has been modified somewhat with SENER separating all of the rounds again and the rounds having a delayed launch. Ronda 2.4 for 30 deep water blocks was launched on 20th July 2017. This round was to have included unconventional blocks but it was delayed pending water use regulations which were finally published on 30th August 2017. The launch of Ronda 2.5 for the unconventional blocks is now expected in 3rd or 4th quarter 2017. SENER has approved 35 shelf blocks for Ronda 3.1 that may also be launched in 3rd quarter 2017. Onshore conventional blocks were supposed to be included in Ronda 3.1 but may be offered in a separate round later as Ronda 3.2. Additionally for Mexican opportunities PEMEX has announced an accelerated farm-out strategy, however, the process is encumbered by having to go through approval processes with SENER and the CNH and it is not clear how fast the farm-outs will occur.
Preview of the New Functionality in Kingdom Petrophysics Developed by Lloyd's Register Interactive Petrophysics (IP)
With the upcoming release of Lloyds Register Interactive Petrophysics (IP) technology within the IHS Kingdom Suite, this talk will highlight the current Petrophysical Interpretation workflow for Organic Shales within IP. We will show a deterministic approach for the prediction of Total Organic Carbon Content (TOC), coupled with Heavy Mineral estimation, Clay Volume (VCL), Shale Volume (VSH) along with calculation of the Petrophysical properties of Porosity and Water Saturation. The workflow combines the log data measurements from Gamma Ray, Spectral Gamma Ray (optional), Neutron, Density and Resistivity log measurements which are then compared/calibrated to Core Analysis results.
Salt-body interval velocity variation in the deep-water Gulf of Mexico
The deep-water areas of Keathley Canyon and Walker Ridge in the Gulf of Mexico contain allochthonous salt exhibiting interval velocities varying with latitude. Rigorous geophysical analyses lead to the conclusion that this velocity variation can be explained by the lithological variation within the salt by latitude.