New algorithm asseses the productivity of shale plays

Source: DollarPhotoClub

Using the Estimated Ultimate Recovery (EUR), the approximate quantity of oil or gas that can potentially be recovered from a well or reserve, two industry consultants have devised an algorithm to asses the amount of recoverable gas in a shale play.

Rafael Sandrea, the president of the consulting firm IPC Petroleum Consultants, and George Peels, an independent information management consultant, used an algorithm to find the production potential for each shale play. The algorithm, paired with gas-in-place values estimated by the U.S. Geological Survey, established the expected recovery factors for the five major shale plays as ranging from 4 percent (Haynesville) to 11 percent (Fayetteville) with an average of 5.4 percent.

This result is considerably less than the earlier U.S. Energy Information Administration average estimates of 11 percent.

Researchers said the algorithm provides new estimates on production potential from EUR estimates, giving key insight for production planning and infrastructure.

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