Geophysical Technology, Improving Returns in the Permian Basin

Abstract

The Permian Basin, currently producing roughly 3 million barrels of oil per day, is one of the largest hydrocarbon resources in the world. Pioneer Natural Resources holds one of the largest contiguous acreage positions in the Midland Basin side of the Permian. However, shale plays require significant capital to exploit, and economics can be tight. As scientists we have two roles to play, reducing the required drilling and completions cost and improving the production profile. Technological advancements can tackle both variables in this equation and geophysics is providing answers. In this talk I will describe how geophysics provides solutions through the various data types and technologies we are using. Examples will include surface seismic, vertical seismic profiles, microseismic, and fiber based distributed acoustics being applied to a range of situations including reservoir characterization, overburden description, and hydraulic stimulation.

AAPG Datapages/Search and Discovery Article #90343 ©2019 AAPG Southwest Section Annual Convention, Dallas, Texas, April 6-9, 2019