--> --> A Success Case of Revival of an 80 year Old Oilfield through New 3D Seismic Interpretation and Reservoir Modeling, Lak Ranch, Weston County, Wyoming, USA

International Conference & Exhibition

Datapages, Inc.Print this page

A Success Case of Revival of an 80 year Old Oilfield through New 3D Seismic Interpretation and Reservoir Modeling, Lak Ranch, Weston County, Wyoming, USA

Abstract

Mature fields meet one or more of the following criteria: fields that have produced for more than 25 years, fields that have produced water cuts around 95%, fields that have been neglected during low demand since the1980's, and fields that are currently in operation with obsolete technology, poor facilities and market access. According to the U.S. Energy Information Administration, these mature oil fields are contributing up to 80% of world production, which could translate to 89 million barrels of oil per day. Often poor infrastructure and poor state of record keeping pose steep hurdles in monetizing these assets. A surprising fact is that in many of these fields, for example in Wyoming, Colorado, Montana and Illinois, the oil is in very low risk plays, often very shallow reservoirs, with low cost of recovery. Conservative estimates of Reserves are about 15–30 billion barrels in some of these basins. Unfortunately, it is also a fact that some of these fields are poorly managed, through various EOR techniques, without able guidance on geology. New 3D interpretation based on sound regional and prospect level geology, chronostratigraphic mapping, fit-for-purpose reservoir modeling to guide the flooding program, and a new breed of entrepreneurial spirit are key ingredients for substantial rewards in these fields. Lak Ranch Heavy Oil Field in Weston County, Wyoming is probably one such field that produced in excess of 100,000 barrel since early 1900's, and has been in neglect. Understanding complex geology, with deltaic to transgressive marine sands and stratigraphic traps has been a challenge. Recent 3D acquisition and interpretation is showing new promise in the region, and helping revival.