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Pure Energy Consultants, LLCField Development Plan of Texas   Creek Oriskany Sandstone       Client: Shell (Fm. East Resou...
Introduction• Deliverables:  1) Reservoir Characterization  2) Reservoir Development Options w/ Economics• Findings:  1) O...
Reservoir Characterization                                       -OGIP = 5.8 Bscf                                       -S...
History Match
History Match                                                                1600000                                     G...
Development Options1) Production to Abandonment  -Add Wells  -No Additional Wells2) Gas Storage
Abandonment StrategyFor P abandonment of 500psi:1) Addition of One Well (Two Test Locations)                  VS2) Produce...
TW-1
Incremental Economics TW-1                           TW- 1                  • Gas produced 4.31                    BCF    ...
TW-2
Incremental Economics TW-2                           TW- 2                 • Gas produced 4.28                   BCF      ...
Economics of Abandonment• Plan Produce Original Three Wells to Abandonment  Pressure (500 psi)• Abandonment Date• Total Ga...
Gas Storage StrategyNp, Pressures at inject-Burst pressure (FG work)Working Gas: OGIP-Np = 5.8-3.9 = 1.9 BscfNo new wells,...
Gas Storage Results• Losing X % per cycle• -(Storage Cost + Summer Buy Price)*Vinj• + (Winter Sell Price)*Vprod• -12.5% *V...
Economics                                             at t=0 Gas Produced vs. Injected Produced                           ...
Economics Summer Price   $3.75 Winter Price   $4.75
EconomicsCycle       Money loss               Cycle       Gas loss (ft3)          Cycle       % Gas Loss (ft3)        1   ...
Conclusions-OGIP:-Reserves:-Abandonment Economics-Gas Storage Economics
Questions
Support Slides
Delciotto 2 History Match                       1600000                                            Delciotto 2            ...
Delciotto 1 History Match                                             250000                    Delciotto 1               ...
Graham 2 History Match1600000                          Graham 2140000012000001000000 800000                               ...
Pure Energy Consultants, LLC                    • Gas Produced                       3.86 BCF                    • Recover...
Pure Energy Consultants, LLC
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Png 492 pec final-presentation[1][1]

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Transcript of "Png 492 pec final-presentation[1][1]"

  1. 1. Pure Energy Consultants, LLCField Development Plan of Texas Creek Oriskany Sandstone Client: Shell (Fm. East Resources) Date: 7 April 2011 Mike Cronin Matt Minemier 716-479-2722 814-222-1854 mbc5043@psu.edu mtm5097@psu.edu Zach Fidurko Naser Saleh 716-378-5970 814-441-1599 zmf5005@psu.edu nbs5043@psu.edu
  2. 2. Introduction• Deliverables: 1) Reservoir Characterization 2) Reservoir Development Options w/ Economics• Findings: 1) OGIP = 5.8 Bscf 2) Economics - Gas Price ($4/Mscf) • Gas Storage Infeasible • Infill Drilling Sub-Economic 3) Recommend Depleting Field to 500psi with Existing Wells.
  3. 3. Reservoir Characterization -OGIP = 5.8 Bscf -Swcon = 25% -Thickness = 30ft -Net Pay = 15ft -Porosity = 5% -GWC at 6200ftStructure Map with Water Saturation:Looking NW
  4. 4. History Match
  5. 5. History Match 1600000 Graham 2 1400000• Cumulative Gas Cumulative Production (MMscf) 1200000 Produced vs. Time 1000000 800000 Graham 2 600000 Modeled 400000 200000 0 1/22/2010 5/2/2010 8/10/2010 11/18/2010 2/26/2011 -200000 Time (Days) • Daily Gas Produced 16000 Graham 2 14000 vs. Time 12000 Daily Production (mscf) 10000 8000 Historical 6000 Modeled 4000 2000 0 1/22/2010 -2000 5/2/2010 8/10/2010 11/18/2010 2/26/2011 Time (Days)
  6. 6. Development Options1) Production to Abandonment -Add Wells -No Additional Wells2) Gas Storage
  7. 7. Abandonment StrategyFor P abandonment of 500psi:1) Addition of One Well (Two Test Locations) VS2) Produce Existing Wells Until Depleted
  8. 8. TW-1
  9. 9. Incremental Economics TW-1 TW- 1 • Gas produced 4.31 BCF • Recovery Factor 74 % • At $4 Mscf additional revenue will equal $1.8 million • Cost to Drill Well (from East AFE) $ 1.3 million • NPV @ 10 % give $-325,946 • ROR equals 3.3 % NPV=Net Present Value ROR=Rate of Return
  10. 10. TW-2
  11. 11. Incremental Economics TW-2 TW- 2 • Gas produced 4.28 BCF • Recovery Factor 73% • At $4 Mscf additional revenue will equal $1.68 million • Cost to Drill Well (from East AFE) $ 1.3 million • NPV @ 10 % give $-355,968 • ROR equals 3.2 % NPV=Net Present Value ROR=Rate of Return
  12. 12. Economics of Abandonment• Plan Produce Original Three Wells to Abandonment Pressure (500 psi)• Abandonment Date• Total Gas Produced BCF• At $4 Mscf - Producing to Abandonment - Stopping Production @ 1000 psi for injection
  13. 13. Gas Storage StrategyNp, Pressures at inject-Burst pressure (FG work)Working Gas: OGIP-Np = 5.8-3.9 = 1.9 BscfNo new wells, convert existing wells to injectors-6month injection/production cycling
  14. 14. Gas Storage Results• Losing X % per cycle• -(Storage Cost + Summer Buy Price)*Vinj• + (Winter Sell Price)*Vprod• -12.5% *Value of Unproduced Accessible Gas
  15. 15. Economics at t=0 Gas Produced vs. Injected Produced 6.00E+09 5.00E+09 4.00E+09Cumulative Gas SC (ft^3) 3.00E+09 Production 2.00E+09 Injection 1.00E+09 0.00E+00 12/27/2014 5/10/2016 9/22/2017 2/4/2019 6/18/2020 10/31/2021 -1.00E+09 Date
  16. 16. Economics Summer Price $3.75 Winter Price $4.75
  17. 17. EconomicsCycle Money loss Cycle Gas loss (ft3) Cycle % Gas Loss (ft3) 1 -7.67E+06 1 1.90E+09 1 14.98537127 2 -8.90E+06 2 2.27E+09 2 28.18611201 3 -9.20E+06 3 2.44E+09 3 39.47369726 4 -9.07E+06 4 2.52E+09 4 48.29953467
  18. 18. Conclusions-OGIP:-Reserves:-Abandonment Economics-Gas Storage Economics
  19. 19. Questions
  20. 20. Support Slides
  21. 21. Delciotto 2 History Match 1600000 Delciotto 2 1400000 Cumulative Production (MMscf) 1200000 1000000 800000 Historical 600000 CMG 400000 200000 0 1/22/2010 5/2/2010 8/10/2010 11/18/2010 2/26/2011 -200000 Time (Days) 14000 Delciotto 2 12000 10000 Daily Production (mscf) 8000 Del 2 Hist 6000 CMG 4000 2000 0 1/22/2010 5/2/2010 8/10/2010 11/18/2010 2/26/2011 -2000 Time (Days)
  22. 22. Delciotto 1 History Match 250000 Delciotto 1 200000 Cumulative Production (MMscf) 150000 100000 CMG Historical 50000 0 1/22/2010 5/2/2010 8/10/2010 11/18/2010 2/26/2011 -50000 Time (Days) 3000 Delciotto 1 2500 Daily Production (mscf) 2000 1500 Del 1 1000 CMG 500 0 1/22/2010 5/2/2010 8/10/2010 11/18/2010 2/26/2011 -500 Time (Days)
  23. 23. Graham 2 History Match1600000 Graham 2140000012000001000000 800000 Graham 2 600000 Modeled 400000 200000 0 1/22/2010-200000 3/13/20105/2/20106/21/2010 8/10/2010 9/29/2010 11/18/2010 1/7/20112/26/201116000 Graham 2140001200010000 8000 Historical 6000 Modeled 4000 2000 0 1/22/20103/13/2010 5/2/2010 6/21/20108/10/20109/29/2010 11/18/20101/7/2011 2/26/2011-2000
  24. 24. Pure Energy Consultants, LLC • Gas Produced 3.86 BCF • Recovery Factor 67% • With no additional Wells
  25. 25. Pure Energy Consultants, LLC
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