Miscible Flooding Provides New Potential in Mature Fields
A midsize E&P operator wanted to assess the impact of using enhanced oil recovery methods on a mature field in their portfolio. Sproule ERCE provided independent analysis of the potential of miscible flooding on a previously waterflooded reservoir.
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Project Highlights
- Supported potential investment with independent analysis
- Assessed EOR methodology risks
- Determined the risk of miscible flooding
- Identified potential recoveries from the reservoir
Challenges:
The client needed to assess potential production results using enhanced oil recovery methods on mature fields in their portfolio. Specifically, they wanted to determine the potential of miscible flooding on a previously waterflooded reservoir, as a method to increase oil recovery
To raise capital, the client required independent analysis of the range of potential future recovery from the reservoir
To raise capital, the client required independent analysis of the range of potential future recovery from the reservoir
Solutions:
Sproule ERCE evaluated the technical elements of the reservoir and development strategy, while also considering economic factors
The Sproule ERCE technical team incorporated risk inherent in miscible flooding on a previously waterflooded reservoir into their analysis and provided a low, best and high estimate to bracket the expected production outcome
An independent evaluation of the contingent resources indicated potential recoveries from the reservoir, while highlighting key risks potentially incurred as the project becomes commercial
The Sproule ERCE technical team incorporated risk inherent in miscible flooding on a previously waterflooded reservoir into their analysis and provided a low, best and high estimate to bracket the expected production outcome
An independent evaluation of the contingent resources indicated potential recoveries from the reservoir, while highlighting key risks potentially incurred as the project becomes commercial
Values:
The independent study validated some of the client’s assumptions and supported potential efforts to raise capital