How can you optimize well spacing to maximize production and minimize costs?
Well spacing is a key factor that affects the performance and profitability of oil and gas wells, especially in unconventional reservoirs. Well spacing refers to the distance between adjacent wells in a field or a section. Optimizing well spacing can help you maximize production and minimize costs by balancing the trade-offs between drainage area, interference, recovery factor, capital expenditure, and operational efficiency. In this article, you will learn how to optimize well spacing using four steps: data analysis, reservoir modeling, economic evaluation, and field testing.