Introduction: Problem we are Trying to Solve; Methodology we are Applying to Solve it We have written a couple of posts about optimizing completions on DUC (Drilled but UnCompleted) well inventory given the extreme constraints on capital that Operators are facing. In our first post, we focused on QEP’s inventory in the Midland, and then […]
Given the extreme capital constraints imposed by a lower commodity price environment, many operators have announced CAPEX reductions and significant rig layoffs. Given these reductions, it would make sense to apply what capital remains to complete through DUC (Drilled, but UnCompleted) wells. If this is true, it would also make sense to revisit the completion […]
Should QEP change its development strategy in this lower price environment? Using our machine learning models and Novi software we analyzed QEP’s Midland Asset development plans to determine the best plan going forward. Based on evaluation of the data, QEP should consider: Downsizing completion designs in primary zones. Discontinuing development of non-core zones. In this […]
With the current oil price downturn, many have started to wonder whether activity in the Bakken will ever return to its previous heights. Using our machine learning models, we estimate that <10% of the remaining inventory is Tier 1, with the real number perhaps <5% due to surface constraints. With lower-tier locations predicted to produce […]
How much of the oil & gas industry’s recent underperformance comes from misapplication of large completions designs with tight spacing configurations?