Geologic/Reservoir three-dimensional (3-D) characterization and full basin 3-D models are developed to reconstruct the Permian Basin from the pre-Cambrian to the surface with primary focus to define Midland Basin Wolfberry and Delaware Basin Wolfbone original oil in-place (OOIP), technically recoverable and economically recoverable hydrocarbon resources. These 3-D Reservoir/Geocellular models incorporate a framework based on new sequence stratigraphic correlations, multiple subsurface horizons, and isochore
maps. Technical (drilling and
completion) data and interpretations from the Bureau of Economic Geology’s core and cuttings, petrophysical models, previously published research, geochemistry, reservoir pressures, decline curve analyses, and numerical modeling simulations are tied into this framework. The billion cell geocellular model for the
Midland Basin and developing model for the Delaware Basin have resulted in an integrated
interpretation of data and reliable results for 11,000 current horizontal wells
targeting these horizons and for 2018–2025 economic outlook models.
Geologic/Reservoir characterization 3-D models are compared statistically to economic outcomes using technology inputs (well landing zones, lateral lengths, completion
designs) and to predict future production results. The machine learning, analytical models define the weight of input parameters used and to predict individual well and play-wide production.
Results include modeling currently drilling and completing wells, future
investment opportunities and economic outlooks using various price and cost
scenarios. Models include the basin water-balance, infrastructure, other capital expenditure and capital structure cost sensitivities.
outlook models (2018–2025) predict the incremental location and drilling
density in Permian Basin Leonardian and Wolfcampian Resource Reservoirs from
late 2018 through 2025. These models indicate that production and recoverable reserves from the Permian Basin Wolfberry and Wolfbone plays, future drilling locations and drilling density are not limited by geologic, reservoir, technical factors (drilling and completions), production rates, Estimated Ultimate
Recoveries (EURs), nor current economic parameters but the limitation or constraint of capital deployed.