RETURN OF INVESTMENT IN WELL PLANNING

Pouring peas in a can on a production line can be a pretty demanding job if it's poorly structured and the belt is running fast.

Posted 03.06.2020 10:34 by Magnus Tvedt
RETURN OF INVESTMENT IN WELL PLANNING

Sure, it calls for many fast and personal decisions, and makes the people on the line feel important, but is it the right way to optimize?

Don't spend too much time planning, they will fix it offshore

When I started planning wells I was told to not spend too much time on the details, as they will fix that offshore. In fact, overly detailed planning was frowned upon as it would

  • create a report too long to read
  • I couldn't predict the outcome of operations anyway so my efforts were probably wasted
  • decisions in operations are made based on who are on the rig and operations team, not what is written in the plan

MAXIMIZE YOUR RETURN ON INVESTMENT

From project management training we know that early planning have a more confound impact on the result and at a lower cost than late changes.

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Think about what discussions frequent around operations, they are commercial, right? Projects are more technical in the beginning and more commercial towards the end.

In drilling operations the commercial terms are important, but the technical decisions can have a bottom line impact in 10's of millions of dollars, and expose drilling crews of weeks of unnecessary exposure to operations.

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Speaking for your climate responsibility, if that rig is running a week extra because of a poorly planned well, you won't reach your company KPI's.

WHAT'S CHANGED?

With data science and modern well planning platforms like Pro Well Plan's, you can transfer experiences efficiently in your organization, and use seconds on what used to take weeks and months.

So invest now to make the planning better and see a big impact on the bottom line. It's easy to get started with on-boarding of data, engineers and managers.

NAH, THIS HAS WORKED FOR TWENTY YEARS

You might argue that improving the planning reduces the enthusiasm the operational team are putting into the operations, and I agree.

But I also think you should revisit the decision structure of your operations. Are you sure you are harvesting all the operations you can from each operation? Or are you supporting an organization where only a few operational people earn all the experience and the company gets the bill?

How many wells can you afford to lose to last minute decisions?

OPERATIONS DATA IS 1/10TH OF THE PLANNING DATA

But do you treat the planning data as the gold it is?

You probably have experience capture systems and daily reporting tied to each well, but the planning is in documents, spreadsheets and presentations stored in local sites and drives.

Corporate knowledge transfer is the game of digitalization, and most large companies fail to live up to the modern employees expectations of a meaningful and challenging work day.

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BOOST PLANNING NOW!

Pro Well Plan let you collaborate and share experiences when they surface, and cuts the reporting and data search from weeks to seconds. We take your well data seriously and let you build an organization which get's to the finish line long before the spud line.

Contact our sales rep here to learn how we guide small and large oil companies in the digital transition.



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