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In the current business environment, companies with oil & gas assets are faced with an increased need for rapid and accurate evaluation of the value of Resource Plays (large areas with producing potential from low permeability reservoirs) for capital allocation. A first step involves Decline Curve Analysis (DCA), the process of fitting a well's declining production with time, and extrapolating to the future to obtain the well's Estimated Ultimate Recovery (EUR). EURs for wells within a region follow a statistical distribution; in order to obtain the most accurate estimate of the value of a region, data from many wells should be analyzed. Well production is continuously updated with new data and new wells, so this is an ongoing estimation problem that is best performed with an automated process.

Figure 1

Figure 1

Decline Curve Analysis tool developed by Spotfire and Haas Engineering. Forecast basins with a variety of DCA Techniques in minutes! Notice the tool’s ability to eliminate off trend production months in its fitting.

Figure 2

Figure 2

“Heat Map” of Bakken wells colored by EUR Quartile. Red spots represent the top 25% of the wells on EUR basis. Looking for basin overviews and quick deal screenings? Haas Engineering has the fast accurate solutions you can trust.

Figure 3

Figure 3

Vintage overview of the Bakken Shale. If you’re looking to take basin understanding to the next level, let us show you our type curve approach. Understanding well completions are continually improving, we can quickly inspect trends on well vintage to ensure your type curve is only incorporating the most analogous data.

Figure 4

Figure 4

Operator overview of the Bakken Shale. Let our analytics team show you who’s performing better than their peers. Remember, operator execution can often mean the difference between a commercial success and failure. Who’s drilling your wells?

Figure 5

Figure 5

Type Curve Map of the Bakken Shale. Need to understand your most likely production rate? Haas Engineering is creating libraries of type curves to help you make necessary cash flow projections.

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