2017 Year in Review & Looking Ahead
Season’s Greetings from RDS!
It’s been a productive 2017 for us as the industry has started to respond to improved market conditions, and we are proud to say that we did not sit idle during the recovery period. We instead used the past year to strategically improve upon our services, grow our team, and continue to advance our company.
As another year of growth and reflection comes to a close, we would like to take a second and share a brief overview of the industry trends we observed over the past 12 months.
2017 saw a sizeable upsurge in onshore activity from clients who are major players in oil and gas — and it’s no surprise that a substantial amount of this activity was in the Permian Basin. We observed an increased demand for our REAL TIME data transmission services coupled with EBOT (surface) and JBOT (downhole) pressure gauges, as operators have once again begun placing emphasis on better understanding reservoir characteristics. We are seeing more DFITs and Frac Interference Monitoring with the operator’s intent of applying captured depletion, net pressures, BHP, etc. to their “big data” systems to make more informed decisions going forward.
It is also worth mentioning that we noticed different strategies employed by our small to mid-sized E&P clients. Many of these, particularly the smaller, private equity-backed, have begun using RDS to perform DFITs to better understand recently acquired fields, or to expand upon portfolio details in preparation of marketing their acreage position. Additionally, in this class of operator we saw a rise in both interest and utilization of newer technologies relating to Frac Interference Monitoring and emphasis placed on well-spacing optimization.
Looking at trends for 2018, we anticipate activity levels to improve further still as confidence in the market is restored and companies are eager to advance the development of existing acreage and prove up new acquisitions.
On the RDS front, next year will see the release of innovative new service lines and tools, and a full reimagining of our online portal that will change the way you receive data!
Best wishes to all for 2018, and stay tuned for more updates after the New Year. Have a safe and happy Holiday Season!
— The RDS Team
Hurricane Harvey Relief
Though much of Texas’ coast is still reeling from the initial blow of Hurricane Harvey, it has been subsequent flooding that has brought massive and wide-reaching devastation to the Greater Houston Area and beyond. The painful sting of loss and ruin knows no race, gender, creed, or social status – it is a universal hurt that is shared by everyone.
Headquartered in the Houston area, Reservoir Data Systems is no stranger to the wicked weather patterns of the Gulf Coast, and though we’re not invulnerable to acts of God, we count our blessings to be amongst the lucky few to have escaped Harvey’s wrath. That being said, our heads hang low and we weep for our brothers and sisters that did not fare as well — our hearts lay broken amongst the wreckage of so many family homes, businesses, schools, and places of worship.
Regardless of circumstance, it is in times like these that the human spirit is insurmountable. Families, neighborhoods, and communities will all band together, hand-in-hand, with love, compassion, and selflessness, to rebuild.
In the challenging months ahead, the RDS family will stand steadfast with Houston on it’s turbulent road to recovery. Working in tandem with Second Baptist Church, we hope to provide whatever assistance needed to as many of those that need it.
If Hurricane Harvey has impacted you or someone you know, or if you would like to join us in volunteering, please reach out to us and let us know. Share or visit this link to Second Baptist’s homepage for relief support, volunteer opportunities, and donations.
URTEC 2017 is NEXT WEEK– Come by booth 803 and say hello!
SPE DFIT Conference Takeaways
Two weeks ago, Reservoir Data Systems sponsored a DFIT Processes and Applications SPE Workshop in Houston and it was a huge success! Over 90 industry experts, experienced engineers, and distinguished academics came together to share best practices and provide valuable insights.
Before the workshop, I spoke to various reservoir and completion engineers from different companies about their DFIT programs. Several folks asked the me the same question—how do we creatively use DFITs to maximize value to the organization? In other words, what all can we do with a DFIT program? How do we maximize the ROI for DFITs? What other advantages can we realize?
I was so pleased and intrigued when operators shared their DFIT stories at the workshop. One of the most significant take-aways (there were several) from the workshop was hearing the ways operators found value (oftentimes unintentionally) from their DFIT programs. I want to share a few of these with you. Below is a brief summary from the workshop on ways operators have used DFIT information to bring value in development decisions:
- The Life of Pi: Describe and understand initial pressure for more accurate reserves calculations. DFITs remain the best way to quantify initial pressure in unconventional and pseudo-unconventional reservoirs
- To stagger or not to stagger: Optimize well spacing and placement. DFITs in parent and child wells can provide a measure of depletion and therefore help operators determine the most cost-effective well spacing patterns
- Put your field on the map: Recognize attributes and patterns that hinder fracture growth and map it out accordingly. Use this to visually determine the optimal completion and well placement strategies
- Go off the deep end: Outline your vertical profile so you can find pressure anomalies and potentially uncover stacked-play possibilities
- Turn on the lights: One DFIT test in a field is like lighting a match in a dark room, but a DFIT program will turn on the lights. Performing DFITS provides crucial pieces of information that, when combined, can really show the big picture and aid in decision-making
Obviously, there are other ways to utilize a DFIT program to add value and insight for development decisions. We will be writing on the above topics in more detail over the next few months. In the meantime, please comment on other ways your team or organization has advantageously used DFIT information, realized value from DFIT campaigns, or measured the ROI from a successful DFIT program? Looking forward to the hearing from you!
URTEC 2016 – Making Data Great Again
Our experience at URTEC 2016 was one for the books! Amazing exhibits, papers, and technical talks topped off by networking with industry thought leaders from around the globe—what a conference!
It was an honor meeting so many amazing, forward-thinking folks with a passion for innovation in the O&G world– their optimism and dedication to advancement, despite uncertainties both forward and behind, is truly contagious!