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Optimized Well Modeling of Liquids-Rich Shale Reservoirs

This paper presents an integrated modeling approach for history matching and economic optimization of wells producing from liquids-rich shale reservoirs (LRSRs). History matching uses daily pressures and gas-/oil-/water-production data to estimate average parameters in a 2D/3D finite-difference (FD) horizontal-multifractured-well model. Economics-based well design uses the same FD model to maximize net present value (NPV) by finding optimal well-completion parameters.

Introduction

Long-term historical liquid production from LRSR wells has not yet provided the industry with sufficient understanding of fundamental performance mechanisms needed to develop reliable empirical forecasting methods such as decline-curve analysis. History matching LRSR wells with a detailed FD-model description provides more-reliable liquids-production forecasting and oil-recovery predictions as well as the ability to study sensitivity of performance to model-parameter uncertainty.

Combining a detailed FD model with a valid economics model provides a quantitative mechanism to optimize value by controlling well-design parameters such as horizontal-well length and fracture size and spacing. If the FD model has been history matched to an existing well, then the historical performance and economic model are “known” for the existing well, and well-design optimization can therefore study how alternative completions would have increased profitability. For new wells, optimization can be used to guide the selection of critical well-design parameters and estimate economic uncertainties.

This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper SPE 166380, “Optimized Well Modeling of Liquids-Rich Shale Reservoirs,” by Aleksander O. Juell, SPE, and Curtis H. Whitson, SPE, NTNU/Petroleum Engineering Reservoir Analysts, prepared for the 2013 SPE Annual Technical Conference and Exhibition, New Orleans, 30 September–2 October. The paper has not been peer reviewed.
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Optimized Well Modeling of Liquids-Rich Shale Reservoirs

01 March 2014

Volume: 66 | Issue: 3

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