Paper Summary

Oklahoma is one of the most mature oil- and gas-producing states, yet the industry continues to innovate and make headlines with new investment opportunities. As the industry focuses on resource plays, advances in drilling and completion technologies along with the accumulated geoscience knowledge continue to tighten constraints on technical uncertainties. The science of running risk-based economics has migrated to a broader matrix of engineering sensitivities focused on optimizing operational investments. Fundamental to calibrating these complex economics is the accuracy and availability of well performance data for forecast models. Investment decisions continue to pivot on the context that forecasting provides in terms of ultimate recoveries and breakeven points.