An industry view of the new technology and inventions needed by the independent petroleum industry by 2025
Conference
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OSTI ID:146410
- Illinois State Geological Survey, Champaign, IL (United States)
In order to remain competitive, the U.S. independent oil industry will need rapid access to relevant data such as development histories, production data, rock samples, fluid samples, reservoir test data, advanced reservoir characterization, optimized drilling and completion technologies, interpreted geophysical (including seismic) data, and a source of funds derived from investors who can expect a return on their money. State geological surveys, attuned to the needs of local independents, can play a major role in meeting these increasing demands for data availability and data interpretation. Surveys can serve as neutral third parties to aid in collecting data not required to be reported to state governments. The interface between independents and surveys and between surveys and the technology developers and providers will produce technological leaps that may include: Improved reservoir imaging in a digital format that can be readily used by an independent`s PC-based system. Availability of data and information on analogous approaches to solutions of various drilling, completion, reservoir and production problems. Development of MWD technology that will allow comparison of real-time acquisition of reservoir rock and fluid data to geological and engineering analogs such as those developed by researchers at state geological surveys. The oil business is risk-based; the price of oil is determined in the world marketplace. At current levels of technology, well abandonments will increase at a deplorable rate between now and 2025. It is in the nation`s best interest from both the natural resource conservation and national energy policy standpoints to reduce the rate of well abandonments and improve recovery efficiency. This can be accomplished through a focused effort by both state and federal agencies addressing the technological needs of the independent industry.
- OSTI ID:
- 146410
- Report Number(s):
- CONF-9406354--
- Country of Publication:
- United States
- Language:
- English
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