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Economics

Enhanced Oil Recovery Institute of Wyoming documents, studies & presentations relating to the topic of economics.

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At Rozet Field, the lack of abundant core analyses or modern logs necessitates the adoption of more assumptions than usual in order to estimate OOIP and remaining recoverable reserves. Two different methods for calculating the recovery efficiency of the waterflood were applied withinnine 5-spot patterns resulting in maximum rates of 40% and 30% respectively. Average recovery factors in the combined 5-spot patterns are 27.5% and 24.4% respectively. Both values indicate the waterflood is probably not as effective as it could have been when compared to similar fields producing from the Muddy Formation.

The calculated OOIP for the Muddy Formation at Rozet is about 74.7 million barrels, of which a little over 19 million barrels have been recovered. The recovery factor for the field is then about 25.5%. If a 40% recovery factor is achievable with an efficient waterflood, then the remaining recoverable oil reserves from the Muddy Formation at Rozet Field are approximately 10.8 million barrels. This magnitude of a target should warrant further investment in improved and enhanced recovery methods there.

At nearby Windmill Field, secondary recovery has yet to be implemented in the Muddy reservoir. Wireline log suites containing porosity logs in this field enable more confidence in the geologic mapping and OOIP calculations than at Rozet. Cumulative oil production there is 677,735 barrels, resulting in a recovery factor of about 14.8%. Assuming the clay content does not vary significantly from that observed at the adjacent Rozet Field, a well-designed waterflood should be effective at increasing production in Windmill Field. If a recovery factor of 40% could be achieved by implementing secondary recovery efforts there, it could result in the production of an additional 1,157,465 barrels of oil.

• Nine different reservoirs in seven fields have employed fieldwide CO2 EOR in Wyoming.
• Between 2010 and 2020, incremental oil recovery from the nine CO2 EOR projects accounted for over 10% of Wyoming’s total oil production.
• Wyoming is not constrained by CO2 sources that can be used for EOR projects.
• Wyoming is also not constrained by fields potentially amenable to CO2 EOR.
• Wyoming is not constrained by pipeline capacity for additional CO2 transport, but is hampered by the existing pipeline system not reaching many of the best-potential fields, especially in the Big Horn Basin.
• The most successful CO2 floods resulted from proper reservoir characterization and associated optimized project design. Wyoming has seen incremental oil recovery from individual CO2 EOR projects as high as 18% of OOIP and volumes as high as 30 million barrels.
• Where net CO2 efficiencies could be calculated, CO2 efficiency is as low as 6 Mcf/bbl of incremental oil recovered, which compares very favorably to other successful projects around the world.

The results of EORI’s sponsored test of Viper Drill’s ultrashort radius (USR) drilling technology could be a sound investment for Wyoming operators.

Ultrashort radius drilling technology was successfully tested in two wells (an injector and a producer) at Thompson Creek Field in northeastern Wyoming that were experiencing problems due to near-wellbore formation damage.  Both wells exhibited marked improvement in performance after the drilling of four short (<30’ long) USR laterals from each borehole, indicating that this method should be considered in other wells throughout the state that are experiencing similar problems.

Reservoir characterization and predictive modeling has provided options for enhancing production in a recently discovered trend in the Muddy Formation near Hirsch Field, in northeastern Campbell County, Wyoming. This report outlines the procedures followed to develop a detailed 3-D geologic model of the Muddy Formation in the Hirsch area and provides the results of simulations run on 73 different scenarios for developing the reservoir. This study can serve as a template for operators interested in exploring possible ways to improve production in their own fields.

The primary objective of the study is to assess the possible implications to GHG emissions associated with this proposed ban and to do so, estimate the drilling and production losses from policies to restrict oil and gas development on federal lands. From that estimate, the emissions impacts are assessed by examining the difference in emissions associated with possible makeup production, compared to the production loss resulting from the ban, or from higher natural gas drilling levels that may be required to make up for lost supplies.

This study estimates the investment and production losses from policies to restrict oil and gas development on federal lands. The first policy is a moratorium on all new federal leases. The second involves an outright drilling ban on all onshore federal lands. The scope of this inquiry includes a study region that includes eight states: Wyoming, New Mexico, Colorado, Utah, Montana, North Dakota, California, and Alaska. These lost opportunities are estimated by first projecting how drilling and production activity is likely to evolve from 2021 through 2040 and then identifying what portion would be affected by the two policies.

The Institute predicts unconventional drilling will become less important while improved and enhanced recovery methods in conventional reservoirs will be of critical importance to Wyoming’s oil and gas sector due to expected oil prices. The Institute offers immediate changes be considered to the Wyoming Oil and Gas Conservation Commission (WOGCC) policies regarding the approval of idle well bonds to initiate construction.

EORI Offers Imperative and Immediate changes to WOGCC Policies that May Improve Production in Wyoming:

The Institute predicts unconventional drilling will become less important while improved and enhanced recovery methods in conventional reservoirs will be of critical importance to Wyoming’s oil and gas sector due to expected oil prices. The Institute offers immediate changes be considered to the Wyoming Oil and Gas Conservation Commission (WOGCC) policies regarding the approval of idle well bonds to initiate construction.

EORI Offers Imperative and Immediate changes to WOGCC Policies that May Improve Production in Wyoming:

• Eliminate the Idle Well Bond Policy
• Consider establishing a tiered Blanket Bond
• Incentivize EOR activity
• Establish a maximum 60-day time limit for reviewing and actioning water flood and disposal well applications
• Extend the time period of inactivity before a well is considered “Idle” to consecutive 24 months.
• Before the state demands that a well should be plugged, it should be evaluated to determine if it has any remaining recoverable reserves.

Is CCUS Feasible in WY? Wyoming’s Unique Position in the World’s CCUS Arena - The Cowboy Unicorn.

Summary of Executive Orders Actions taken by the Biden administration in January 2021 which will have a direct impact on Wyoming’s economy. 

In their study, Open Water Capital Partners highlights solutions to mitigate the long-term effects of a sustained downturn in coal, oil and natural gas and introduces strategies to limit the downturn’s impact while supporting Wyoming’s energy industry.

Open Water Capital Partners introduce strategies to curtail this impact to Wyoming’s economy with a three-pronged approach providing “immediate financial relief to operators, access to longer term liquidity amidst the volatility, and establishes a platform to more broadly diversify state revenue streams. 

Polymer-augmented waterflooding of the Minnelusa in Wyoming has proven to be a successful method for improving production in most cases compared to normal waterfloods. Polymer is a lowcost, low-risk option when considering a method for enhancing production of a particular field. Its primary function is to improve the mobility ratio of the injected water by increasing its viscosity, thereby improving the volumetric sweep and conformance within the reservoir.

Advantages of using polymer include: (1) low cost, (2) preventing early water breakthrough, (3) improving volumetric sweep and conformance, (4) increasing oilwater ratios, (5) mobilizing oil that would likely have been bypassed under normal waterflood conditions, (6) mitigating heterogeneous permeabilities within the reservoir, and (7) other enhanced oil recovery injection technologies can still be applied after the polymer flood. Most, but not all, Minnelusa fields examined exhibited improved recoveries using polymer compared to fields under conventional waterfloods. Uneconomical polymer floods can be caused by a variety of factors, chief of which is the failure to properly understand the internal architecture of the reservoir prior to initiating the flood.

WPA Update
 59 Downloads
 189.38 KB

Presentation October 2010 by Brian Jeffries.  Topics include Wyoming natural gas price compared to Louisiana gas price and more.

Niobrara Shales in Wyoming
 56 Downloads
 807.37 KB

Presentation October 2010 by Andy Finley.  Topics include Niobrara Overview and more.

Presentation October 2010 by Bob Cornelius.  Topics include Transferring Gulf Coast CO 2 Success to the Rockies and more.

Presentation October 2010 by Tad True.  Topics include Logistical Constraints for Rockies’ Production, Getting Barrels out of the Rockies and more.