Beaver Creek CO 2 Project (WY) Update

Transcription

1 Beaver Creek CO 2 Project (WY) Update Veronica Chodur Devon Energy Corporation Presented at the 16 th Annual CO 2 Flooding Conference December 9-10, 2010 Midland, Texas

2 Presentation Outline General Field Info and History Brief CO 2 Project Evaluation Performance & Reservoir Management NYSE: DVN page 2

3 Basin Outline and Field Location Wyoming Wind River Basin Beaver Creek area NYSE: DVN page 3

4 Madison Reservoir Characteristics Geologic Characteristics Limestone/Dolomite Matrix Approx. Prod. Area = 974 Acres Approx. Oil Column Height = 820 Avg. Net Pay Thickness = 212 Avg. Depth to Madison Top = 11,100 Reservoir Characteristics Porosity = 10% Permeability = 9 md Reservoir Temp = 234 o F BHPi = 5301 psia GORi = 288 scf/bbl Bubble Pt. = 673 psia Swi = 10% Oil Gravity = 39.5 o API NYSE: DVN page 4

5 Stratigraphic Column and Typelog Madison is subdivided into 4 zones, with the D zone being the primary producing zone Madison Ls NYSE: DVN page 5

6 Beaver Creek Madison Production History 100,000 10,000 Monthly Volumes BPD / (Bpd, MCFD Mcfd) 1, First Production 1955 Peak Rate 8500 bopd Waterflood initiated in 1962 OOIP = 109 MMbo Cum Oil (prim + sec) = 42.5 MMbo Remaining Reserves (WF) = 2.6 MMbo Jan-50 Jan-60 Jan-70 Jan-80 Jan-90 Dec-99 Dec-09 Oil Gas Water WINJ NYSE: DVN page 6

7 CO 2 Project Evaluation Initial Screening Phase I: 2005 Testing & Sector Model Phase II: 2006 Full Field Model Phase III: Analogs & Screening -Basic Reservoir & Geology Study - Risk & Economics -Perform Testing (MMP, MCM, PVT, Core, etc.) - Build Sector Model - Update Risk & Economics - Full Field Simulation - Develop Flood Strategy - Finalize Economics (D&C, Facilities, CO 2 Purchase) Execution Phase IV: Finalize Flood Strategy - Contract CO 2 & Build Pipeline - Drill & Complete - Facilities & Recycle Plant NYSE: DVN page 7

8 Flood Execution Preparation PhaseWork Requirements Build CO 2 supply pipeline Construct production & injection recycling facilities Drill 7 new producers & 5 new injectors Install new flowlines for producers & injectors Rework or recomplete 9 producers & 7 injectors Convert 2 wells from producer to injector NYSE: DVN page 8

9 Madison CO 2 Flood Original EOR Flood Strategy CO2 Injector WAG Injector Producer Observation Flood Strategy Combo Peripheral + Gravity Stable Best Modeled Recovery Most Flexible Well Plan NYSE: DVN page 9

10 Madison CO 2 Flood Production Results Initiated CO 2 Injection 7/3/08 BPD / MCFD Pre-Flood 300 Bopd 32,000 Bwpd Current Avg Rate 4200 Bopd 30,000 Bwpd NYSE: DVN page 10

11 Madison CO 2 Flood Current Oil & Gas Rates by Well Oil Rates (bopd) Gas Rates (Mcfd) NYSE: DVN page 11

12 Madison CO 2 Flood Managing Reservoir Pressure Maintain Reservoir Pressure > 2600 psi MMP Began WAG in 5 Down-dip Injectors Current Reservoir Pressure >3000 psi Choked Back / SI Interior Producers Converted 2 Wells to Injection Balance Injection with Production NYSE: DVN page 12

13 Madison CO 2 Flood Reservoir Management Unexpected production response in the BCU #124 Re-evaluated Seismic & Geo-Model NYSE: DVN page 13

14 Beaver Creek Seismic Coverage Riverton, Wyoming 3D survey outline Riverton Dome Beaver Creek Seismic Line A A NYSE: DVN page 14

15 Original 3D vs. Reprocessed 3D Seismic Line A-A Fault was previously un-defined on seismic Fault separates upper Madison block from lower Madison block. Primary objective (Madison LS) Primary backthrust fault Original Vector processing NYSE: DVN page 15 Excel processing using DMI PSTM

16 NYSE: DVN page 16

17 NYSE: DVN page 17

18 Well 124 responds to CO 2 injection well 139 BCU #139 injector BCU #124 producer NYSE: DVN page 18

19 The Madison CO 2 zone is in the lower SE plate at both wells Area of Overlap BCU #139 injector BCU #124 producer NYSE: DVN page 19

20 Madison Structure Map Old Madison Structure Map New Madison Structure Map NYSE: DVN page 20

21 Madison CO 2 flood Reservoir Management Simulation Updates - History match actual CO 2 flood performance Optimize Flood Performance - Improved rate and reserve forecasting - Optimize reservoir and operating pressures - Forecast Impact of Various Operating Scenarios (Well Placement, WAG Ratio, Slug Size, CO 2 Utilization, Conformance) NYSE: DVN page 21

22 Reservoir Simulation Update NYSE: DVN page 22

23 Actual vs. Modeled Oil Production GROSS OIL PRODUCTION FORECAST P50 Model Actual MMBO Net Reserves Anticipated Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 BOPD NYSE: DVN page 23

24 Tertiary Recovery NYSE: DVN page 24

25 CO 2 Utilization NYSE: DVN page 25

26 Continued Reservoir Monitoring NYSE: DVN page 26

27 Thank You.