Seifert Subsurface Understanding, LLC
Key Concerns in Subsurface
While each organization is different, subsurface teams typically consist of members of the main subsurface disciplines (Geology, Geophysics, Petrophysics, Reservoir Engineering, Production Technology). Additional technical staff are brought in when needed. These subsurface professionals, often generally referred to as “Petroleum Engineers”, collect, process and interpret the data and integrate the results into a subsurface project which typically results in production forecasts and economic evaluation. The scope of such projects can be drilling a single infill producer or injector well, reviewing a well proposal from a partner company for approval, adding another development phase to a producing reservoir, converting a reservoir under primary depletion to a waterflood or even making a full Field Development Plan (FDP) for a new reservoir.
While the PE Discipline has made great strides in developing sophisticated tools and better integration, several key concerns remain:
The outcome of many projects may cluster below the P50 mark of the forecast range, while too many projects are near the low end of expectations or even outside the predicted range (P10-P90) for both static volumes and dynamic performance.
The Business Plan may contain projects as placeholders (especially +2 yrs out), and when the time approaches to mature them, then the asset teams are hesitant (because subsurface and reservoir behavior have moved on). How to evaluate/replace/decide under time pressure with limited resources?
Because the 'easy oil' is already under production, decision makers are facing more difficult development projects (new reservoirs may be deeper, tighter), where decisions must be made with greater uncertainty and risk, while often under organizational pressure (fill the funnel, keep production up).
Technical project work for these projects often takes long and is very complex. The results often depend entirely on simulation tools, and sometimes one does not know how robust the forecasts are until it is too late (“…the model says…”).
At the same time, these difficult projects are worked under time pressure with fewer and possibly less experienced staff (“Crew Change”), juggling many projects in parallel.
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What does Seifert Subsurface Understanding, LLC bring to help?
Understanding, communicating and improving many key issues in the subsurface.
Rather than taking a traditional discipline-based approach, an integrated “Big 5 Questions” approach will be taken, focusing on integration, emphasizing uncertainties, risks and analogs/benchmarking. Embed these topics in technical work and communication to leaders (incl. assurance review or reviews of FDP). Guide targeted documents for risk and uncertainty communication if necessary.
Increase better subsurface understanding through ‘true integration’, e.g., by leading integrated workshops and formal IRM framing events. Past experience has shown significant improvement in project quality and confidence.
Emphasize better subsurface understanding, analytical screening and multi-scenario evaluation before decision making (incl. portfolio ranking) or embarking on longer studies (including IRM).
As SME for IRM, bring focus to Decision-Based Integrated Reservoir Modeling (DB-IRM) and Multi-Scenario Modeling, when static/dynamic modeling is needed.
Please refer to more detailed information under “Services”.