Global Energy Producer Improves Oil Forecasts

Situation

• Energy companies use ARPS-based type curves to estimate total oil and gas production for existing wells. They also use this to estimate new well output. Finally, this information and production profiles are presented to investors and shareholders.

• Our goal was to generate dynamic type curves for any given set of wells – faster and with greater accuracy.

 

Approach

• ARPS model was used as a basis for calculation.

• SafeRock’s system automatically calculated custom Type Curves for any given set of wells.

• This system significantly improved the accuracy and speed for creating type curves for up to 100,000 wells.

 

Results

SafeRock succeeded in building dynamic type curves that were more quicker, cheaper, and more accurate than existing methods.