Many DAKS IQ subscribers have told us that through the application of global reservoir analog knowledge they have broadened the experience of their staff, guided investment decisions and delivered consistency in evaluations from disperse global teams.
Multi-national organizations face unique portfolio challenges in maintaining consistency across their varied teams, cultures and disciplines that are dispersed across numerous offices and countries. Calibrating subsurface data and development plans for the areas of interest and applying global knowledge and best practices from the world’s most detailed analog knowledge base is a proven way to ensure consistency. This will also facilitate an efficient portfolio process that will result in only the best opportunities receiving investment.
DAKS IQ delivers analog knowledge that is uniquely positioned to help you:
- Efficiently and precisely find applicable global reservoir analogs, not just any analog
- Deliver basin insight for new venture staff, or staff moving to a new country, basin or asset
- Identify global exploration trends to test new exploration concepts
- Calibrate all aspects of your geological models and development scenarios
- Derive maximum insight from multiple analogs through advanced analytical tools
- Benchmark production performance or identify optimal enhanced oil recovery techniques
- Leverage knowledge capture and knowledge management solutions so your global teams can maximize the full value of your proprietary investments in tandem with DAKS IQ analogs
Example Application: Evaluating Prospects with an Analog Workflow
We have helped new venture teams, assurance teams and asset teams work consistently across functions on a number of exploration projects. Consistency can often fail at the point where an estimated ultimate recovery (EUR) is translated into a development plan and associated production profile, both of which are needed for a net present value calculation.
An assured geological model with support information may have worked, but how often is all of this detail passed on to the reservoir engineer, who is given minimal time to provide the inputs for an economic evaluation? If insufficient information is communicated, the assumed development plan, EUR per well, or maximum flow rate may be inconsistent with the geological model produced by the geoscience team. In the Gulf of Mexico, a Miocene turbidite prospect and a Wilcox prospect at the same water depth and same depth below mud-line may have very different production performance due to their reservoir characteristics.
Analog workflows are available to address this challenge. First, identifying applicable global reservoir analogs and combining these with local well data is an optimal way to calibrate uncertainty. Second, this same suite of analogs can be used by the reservoir engineer to validate the development assumptions and calibrate the parameters required for forecasting a prospect production profile. This approach will improve calibration of uncertainty and forecasting, as well as consistency and communication between teams.