Water Production in Declining Unconventional Oil Basins

Dear Subscriber,

This week's newsletter highlights Novi's SPE presentation, in which we delve into the factors influencing production in the Permian Basin.

Building on our previous newsletter's theme, we've got two must-read posts by our VP of Product Management, Ted Cross: "Analyzing Drilling Efficiency Across Different Basins" and "What happens to water production as an unconventional oil basin enters decline?"

Also, we're sharing a PDF with 5 common myths of AI in oil and gas and why they are stopping you from optimizing your energy business.

Additionally, as we enter November, our VP of Product Management, Ted, will be speaking at various events. If you're thinking of attending any of the listed events, don't hesitate to connect with Ted on LinkedIn for a chat.

What happens to water production as an unconventional oil basin enters decline?

Can you use unconventional well performance trends to predict when a basin production will peak?

If wells start becoming less productive, perhaps that is an indication that operators are running out of quality inventory, and production declines will logically follow.

We took a quick look at this across the major oil and gas plays, and the story is definitely not so simple.

Across all the plays, no clear signal emerges from the well performance trends. On the first order, activity levels are more important than performance trends.

Understanding the trajectory of these plays requires a more sophisticated analysis, combined with sensitivities around operator activity levels. Previously, we have published studies on inventory exhaustion in the Williston and Midland Basins, which gives a more accurate view on the quality of locations remaining within a play.

Novi's SPE Permian Basin Oil & Gas Recovery Symposium Talk

In this PDF, you will learn the key drivers impacting performance trends in the Permian and how machine learning is being used to crack the code!

Get your copy today: https://novilabs.com/resources/recap-of-novis-spe-permian-symposium-talk/

Analyzing Drilling Efficiency Variations Across Different Basins

Drilling efficiencies varies significantly by basin, and through the years.

Since 2012, drillers have more than doubled their efficiency in the DJ and Williston. The DJ (Niobrara) stands as by far the fastest to drill of the major oil plays, at over 2x the rest of the pack.

Of course, these gains have occurred WHILE ALSO increasing lateral lengths, with the Permian leading the pack at an 80% increase in average lateral length per well.

So even though rig counts are far below previous peaks in 2018 and 2014, operators are getting more out of each rig.

5 Myths About AI in Oil and Gas - Busted!

No need to stress about AI's impact on your team. Our short PDF illustrates how AI is here to assist, not replace your workforce.

The PDF is based on one of our popular blog posts: https://novilabs.com/blog/5-myths-about-ai-in-oil-and-gas-busted/

November's Upcoming Events

November is just around the corner, and we're thrilled about the exciting lineup of events where we'll be speaking.

For more information and event details, please visit: https://novilabs.com/events/

We can't wait to see you there!