Meet Senior Decision Makers From E&P's Currently Operating In & Looking To Enter The:
- Anadarko Woodford
- Ardmore Woodford
- Arkoma Woodford
- Woodford Shelves
- South Central Oklahoma Oil Province
With The Following Job Titles:
COOs, VP's, Directors, Managers, Team Leads & Chiefs Of...
- Reservoir Engineering
- Unconventional Resources
Plus Suppliers Of:
- Frac Fluids
- Well Completions Services
- Logging Tools
- Drilling Fluids
- Directional Drilling & Steering Tools
- Down Hole Tools
- Artificial Lift Systems
- Seismic Analysis
- Fracture Stimulation Technology
- Casing Programmes & Services
- Well Design Services
- Reservoir Characterization
Woodford Oil Congress 2014
The Woodford Shale, covering virtually the entire state of Oklahoma, is far more complex then other shales found in North America. Yet it is still rapidly emerging as a major unconventional energy resource due to the recent oil discoveries that could transform the economics of the play. The formation is estimated to contain large residual concentrations of hydrocarbons with data from various studies confirming 400 million barrels of recoverable oil and 250 million barrels of valuable condensate as well as associated gas. These figures combined with local production results from naturally fractured reservoirs, recent unconventional production results from the Woodford Shale in Oklahoma and successes in unconventional resource recovery from similar formations, clearly indicate that the Woodford Shale is an undoubtedly compelling exploration target.
Many of the Woodford's largest oil fields are found in the Anadarko, Arkoma, and Ardmore geologic basins and their associated shelves and platforms, with the lower Anadarko Woodford basin attracting the greatest attention due to it's high oil reserves. Attention is rapidly turning to the possibility of unlocking these resources on a commercial scale using the same horizontal drilling and hydraulic fracturing techniques that have prized millions of barrels of oil and condensates from Bakken and Eagle Ford.
But operators are faced with a high risk, high reward conundrum; the high liquids content of these wells promise operators with high rates of return but the formation is extremely difficult to drill due to its complexities and the fact that the organic material in the Woodford Shale is not well understood. This complexity is especially evident in southern Oklahoma where the Woodford consists of alternating bands of chert-like amorphous silica and silica-rich shale. The area's complex structural geology and mineralogy have broad implications, affecting drilling and completion design, production practices and ultimately well productivity. Additionally the Woodford is even deeper than Bakken and Eagle Ford, resulting in escalated drilling and completions costs. Woodford wells are between 6,000 and 11,000 feet deep and cost $3 million on average to drill and complete - but with ultimate recovery estimated to be between 2 and 2.5 bcfe per well, operators are now deeming it a high ROI pursuit and moving forward with operation scale up.
PINPOINTING AND EXPLOITING OIL WINDOWS
For producers to successfully and profitably exploit the oil windows and to drive the play towards manufacturing mode, it is important to fully understand the make or break of Woodford economics and pinpoint where oil can be found in the play to ensure favorable returns.
The mission of the first and only Woodford Oil Congress 2014 was to assess the latest well data being used to pinpoint liquid rich reservoirs and optimal completions techniques being used to make Woodford wells economic. The congress was based entirely on operator and research led data explaining the complex geology and petrophysics of Woodford oil fields and determining which type of completions design yields the highest recovery at the lowest cost. This year's congress was set to deliver the most commercially valuable and practically applicable insights for operators currently operating or looking to enter the abundant Woodford play.
Day one focused on finding sweet spots in the oil windows by using thermal maturity and seismic data to determine the maturity level at which oil can be economically produced and provide a better understanding of the reservoir characteristics of the play. The day also focused on assessing stratigraphic and petrophysical data to accurately define produceability of oil windows.
Day two scrutinized drilling and completions operations and techniques used to produce oil in the Woodford to develop the most cost-effective exploitation strategy and drive the play towards manufacturing mode as well as map the current leasing status of Woodford acreage to assess where potentially oil rich areas are available.
The Woodford Oil Congress 2014 Was Strategically Designed...
... as the only event focusing entirely on assessing reservoir variables to find sweet spots in liquid rich reservoirs and completions design to drive production and make Woodford wells economic. The event hosted speakers from all key active E&P companies in the play to deliver drilling and completions solutions that have been shown to maximize economic return in the Anadarko, Arkoma, Ardmore basins and associated shelves. Topics addressed by operators included:
OIL WINDOWS: The make or break of Woodford economics. Pinpointing where oil can be found in the play to ensure favorable economics
THERMAL MATURITY: Determining the maturity level at which oil can be economically produced in the Woodford
ECONOMICS, WOODFORD OIL: Drawing conclusions from geochemical, petrophysical and stratigraphic data to assess the long term economics of the Woodford oil windows
COMPLETIONS TECHNIQUES: Considering the variables that affect the success of completions and demonstrating the optimum frac stages, gels and proppants
DRILLING: Examining drilling techniques being used in the Woodford oil windows to reduce costs and time
LEASING: Assessing which companies have leased which acreage in the Woodford oil windows, which land is available, and how to reduce delays in starting operations
"The conference was terrific on many levels, including technical and business content, organization, and networking opportunities."