Lowers Operators’ Cost per BOE
HOUSTON--(BUSINESS WIRE)--Jun. 23, 2014--
Halliburton (NYSE: HAL) announces the release of the CYPHERSM
2.0 Seismic-to-Stimulation Service, a proprietary and collaborative
workflow that links geoscience and reservoir, drilling, and completion
engineering to allow operators to better predict and produce
unconventional reserves. The CYPHER 2.0 service builds on the complete
full-field solution and provides enhanced capabilities through
innovative software applications allowing operators to optimize the
development of their unconventional reservoirs and reduce their cost per
barrels of oil equivalent (BOE).
Powered by Landmark’s DecisionSpace® next-generation earth modeling
solution, the workflow is unique to the industry in that it is capable
of updating dynamically and iteratively with the seismic and well data
required to model the structure, rock and fluid properties.
Halliburton’s petroleum systems modeling technology defines the
distribution of hydrocarbons in the unconventional reservoir to aid well
placement, while the company’s integrated formation evaluation module
identifies the sweet spots for optimizing the spacing of perforation
clusters.
Key scientific and technological advances in the CYPHER 2.0 service
include modelling the interaction of the reservoir’s natural fracture
networks with the fractures induced by the hydraulic fracturing process.
This results in a more accurate fracture network model with which to
simulate the production performance of the completion design. Critical
operational factors can then be adjusted in real time between stages
during the fracture treatment to further optimize well performance.
Another advancement is the ability to evaluate, predict
and alter perforation cluster efficiency. Leveraging these models to
rapidly evaluate the production performance of different well placement
and completion design options, Halliburton is able to quickly and
iteratively optimize the development plans for operators’ shale assets.
“Since we released the CYPHER service in September 2013, we have seen
tremendous customer interest and uptake,” said Jim Brown, Halliburton’s
President of the Western Hemisphere. “Projects on shale assets in
several North American basins have delivered a 35 percent production
increase on average. The CYPHER 2.0 service is a step-change improvement
in our ability to deliver better wells for our customers at a lower cost
per BOE.”
Devon Energy first applied the CYPHER service in the Grasslands Area of
the Northern Barnett Shale. After seeing improved production results and
EURs with far less production variations between wells, Devon has chosen
to incorporate the CYPHER service in the Eagle Ford Shale as part of
their technology efforts to help them better understand the reservoir
and also aid in the stimulation design to help improve their fracture
efficiency and effectiveness.
Synergy Resources Corporation’s Chief Operating Officer Craig Rasmuson
had this to say after using the CYPHER service: “Halliburton increased
the 30 to 90-day production rates with its CYPHER service through prior
planning and diligent management of the drilling processes, ultimately
increasing the EURs and reserves for Synergy which is why we
wholeheartedly endorse the CYPHER service.”
The CYPHER service is deployed to all major shale developments in North
America and many key international markets through multi-disciplined
technical teams, with more than 300 technical professionals trained on
major elements of the workflow.
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world’s largest providers of
products and services to the energy industry. With more than 80,000
employees, representing 140 nationalities in approximately 80 countries,
the company serves the upstream oil and gas industry throughout the
lifecycle of the reservoir – from locating hydrocarbons and managing
geological data, to drilling and formation evaluation, well construction
and completion, and optimizing production through the life of the field.
Visit the company’s website at www.halliburton.com.
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Source: Halliburton
Halliburton
For Investors:
Kelly Youngblood,
281-871-2688
Investor Relations
investors@halliburton.com
or
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