In the exploration and appraisal lifecycle, if the asset economics are confirmed for development the process then moves to the reservoir development lifecycle where detailed analysis and asset modeling provides information needed for strategic development planning.

Asset teams gain understanding of their asset’s potential and uncertainty through reservoir characterization modeling, the process of integrating subsurface G&G data to create a static 3D earth model that provides critical information for the next phase of lifecycle activities. Residing on a single collaborative platform, Landmark DecisionSpace^® Earth Modeling provides companies a way to seamlessly integrate all their G&G subsurface data to create a high resolution earth model in a cross-disciplinary effort while preserving data consistency. The resulting earth model offers a clear understanding of the reservoir geometry, and rock and fluid properties along with their uncertainty.

Once you have characterized the reservoir, reservoir simulation is used to predict the potential flow of oil, gas, and water through the reservoir. The impact of proposed operating plans on recovery efficiencies can be modeled, from which an optimized plan can be devised and validated. The reservoir simulation model combines the earth model, well locations, and completion design, along with well controls imposed or proposed during the simulated time period. Predictions of future production can be made more accurate by including surface pipelines and facility behavior in the simulation model, and determining their potential effects on the performance of the wells. With Landmark Nexus^® Software Suite, companies can create reservoir simulation models most representative of their assets behavior for field development strategies.

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Validate Model Against History

Once the reservoir simulation model has been satisfactorily matched to production history, the process now turns to forecasting production and development planning. Forecasting is performed from the end of the field history through the expected operating life of the field, using the history-matched model to predict future behavior. The most frequent scenario is to forecast the base case in which no additional wells are drilled. Landmark Nexus® Software Suite not only provides companies forecasting capabilities for their reservoir simulation models but offers them the option to include surface facilities and pipelines to increase the accuracy of their future production forecasts for the life of the asset.

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Optimize Development Plan

Most companies will seek an optimized development plan once the base case forecast has been completed, with the goal of increasing asset value. This process involves proposing one or more development options (e.g., waterflooding or gas re-injection) which usually includes drilling additional wells. These development options are then modeled with multiple operating scenarios (different rates and pressures) which can be implemented in the field. Best practices dictate that development decisions should be made based on a comparison of forecasted behavior for various planned development options with the base case forecast. Production improvements, overall economics, field lifetime, and investment recovery time can all be considered, individually or in combination. With Landmark Nexus® Software Suite companies have the ability to find the development plan which provides the greatest potential asset value.

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