Delivering Best in Class through Offset Analysis & Benchmarking
The purpose of an upfront offset analysis & benchmarking exercise is to Learn Before commencing a high-cost project. This involves identification of all the unknowns, query all potential sources of relevant knowledge and expertise to determine the gap to best in class, to understand what is possible and the size of the improvement zone, and - ultimately- defining a strategy to close that gap.
The analysis starts with identification and interrogation of all available knowledge bases, e.g. DIMS. IADC, Rushmore, Service Companies knowledge bases, SPE, Internal knowledge bases, historical lessons learned and key technical communities of expertise that can contribute to the Learn Before analysis.
The offset analysis and benchmarking essentially maps the operating environment conditions (region, weather, maritime conditions, logistics supply chain), the geophysical conditions (pore pressure, frac gradient, temperatures, depths, geological sub surface risks), typical well designs, and lessons learned from previous projects conducted under similar circumstances with comparable technology and equipment.
The objectives of the offset analysis are:
- Define the Engineering Technical Limit for the longer term field development strategy
- Illustrate what is possible.
- Clearly define the AFE time, Best of the Best time / Best in Class time
- Identification of all significant risks based on offsets
- Interrogate and apply all lessons learnt
- Identify any potential improvement opportunities to the well design
Specific studies that may need to be considered as part of the offset analysis include:
- Wellbore stability
- Pore / Frac pressure analysis
- Shallow hazard assessment
- Mud selection
- Environmental Impact assessment
The gap between the rig target and the engineering technical limit should be identified such that major drivers causing the gap can be tracked to evolve longer term strategy for future field development in the region(e.g. rig selection, well / completion design, the selected technology, weather impact , and environmental conditions).