Multi-well planning approaches are often considered better than single well planning for several reasons. This is primarily due to their potential to optimise drilling operations through improved efficiency, reduced costs, better collaboration and historic data analysis.
Let’s explore in more detail some key advantages well planning software offers for multi-well planning.
Efficient Resource Utilisation
Multi-well planning allows for the efficient use of resources, including drilling rigs, equipment, and personnel. By strategically planning and grouping multiple wells in close proximity, operators can reduce downtime and mobilisation costs associated with moving equipment between well locations.
Rig scheduling plays a pivotal role in managing resources efficiently. With built-in Draft and Master schedule capabilities, iQx RIG software allows the user to test and optimise alternative schedules based on constantly updated estimations. In the quest to identify the optimal drilling unit for a prospect, one should navigate through the various phases of a well's lifecycle, from conceptualization to completion, while making necessary schedule adjustments. This approach allows for the identification of opportunities within the process, ultimately leading to efficient use of time and resources.
Cost Savings through Improved Performance
Multi-well planning can reduce overall drilling and development costs.
Drilling software iQx enables drilling engineers to generate one AFE for an entire drilling campaign. And with the option of adding a learning curve to the well cost model, workflow performance increases significantly as the campaign develops.
iQx PLANS application runs thousands or millions of iterations, revealing the probabilities of different outcomes. This means better understanding of the potential overruns and more informed decisions.
Sharing data and information among multidisciplinary teams and among teams located in different locations helps be a step ahead of cost barriers.
Through open API, iQx CT time and cost tracking application synchronises with other industry leading software systems, such as logistics management tools and daily drilling reports, ensuring that all data is accurately shared and updated across multiple platforms.
With real-time drilling time and cost tracking capabilities, iQx CT empowers collaboration and helps the user to stay in control of their well project costs, avoid costly overruns, and monitor the actual costs vs sanctioned budget in real time.
Learning from Historical Data
Well engineering software enabling storage and analysis of past drilling campaigns informs future decisions and continuously improves performance.
iQx Ex application facilitates the gathering, storage, and analysis of experiences and lessons learned. As centralised cloud archive, iQx Ex offers an intuitive search functionality that allows users to quickly locate past experiences based on specific parameters such as rig, location, or similar events. The application fosters a culture where valuable insights are actively sought and applied.
While multi-well planning offers many advantages, multi-well projects can be more complex and time-consuming compared to single well planning. However, with the right campaign planning software, the potential long-term benefits often outweigh the initial single well planning challenges.
Would you like explore more how iQx can help you gain efficiencies in multi well planning? Contact our sales team for demo @ firstname.lastname@example.org