Maximizing asset value through focused well and reservoir management (WRM)

Luis Blanc 
20 hours online

Business context

In today's world economy of low oil and natural gas demand, opportunities for new developments are becoming harder to find and even more difficult to make them economically attractive. In this environment, maximizing production from existing assets has become the key focus for E&P companies to expand and grow their businesses.

Well and reservoir management (WRM) is the process of continuously maximizing value from existing assets by understanding and optimizing the performance of the existing wells and the reservoirs they produce from. This is not a straightforward task. It is creatively challenging, requiring multi discipline integration, and a commitment to continuous performance improvement. When effective WRM becomes embedded in the business, the rewards are substantial. Production gains of over 20% are commonplace using defined techniques and strategies and come at the lowest possible unit cost. Sustaining such gains requires new ways of working and committed leadership.

Course content

This online course has a duration of 20 hours and covers the main topics in the area of WRM. The course presents, in a concise manner, an overall framework for WRM, describing best practices in key action areas, and how to turn these practices into a continuous improvement process. The attendee will leave this course with a better appreciation of the following topics:

  • Well and reservoir management value loop: how a well-designed and implemented WRM plan can have a direct impact on production and reserves increase.
  • Key components of the process of WRM and how they require an integrated approach, from field personnel to upper management, to see positive results.
  • Understand the benefits of: 
  1. Better data gathering using the concepts of value of information,
  2. Practicing anomaly identification and value extraction using simple surveillance,
  3. Modelling based surveillance,
  4. Integrating multidiscipline teams to organize and conduct periodic optimization meetings,
  5. Providing support from upper management and leadership for achieving sustainability and most benefit from WRM.