Offshore Well Servicing Performance Analysis Study
Driven by client feedback, Solomon is now offering an Offshore Well Servicing Performance Analysis Study to identify opportunities for cost and activity optimization.
This new study focuses on the execution and delivery performance of individual well servicing projects. Well servicing encompasses multiple types of well-related work activities, including well interventions, production optimization, surveillance, and preventive maintenance work. Routine surveillance, preventive maintenance, abandonment, and drilling activities are excluded from our analysis.
- Primary categories of Well Servicing activities addressed by the study include:
-Projects that restore or protect existing production.
-Projects intended to optimize or generate new production.
A well-defined catalog of well servicing activities is identified within each of these two categories, ensuring both consistency and meaningful comparative performance analysis across participating companies.
Beyond Traditional Performance Benchmarking
The study goes beyond traditional performance benchmarking by including both capital and expense activities and analyzes qualifying activities over a 3-year period. The multi-year evaluation period provides a comprehensive dataset in the highly variable segment of offshore well servicing, delivering improved trend analysis on activity and spending levels. The analysis offers a unique view of qualifying well servicing costs by individual well activity.
The analysis also provides a view of individual asset overall program delivery performance, as well as a breakdown of performance delivery by category and individual activity type.
The compiled study results will enable you to understand how your program compare to your peers. Those same results also highlight potential gaps in terms of intervention success, the number and distribution of intervention activities, well failures and idle/inactive wells.
Insights from Performance Analysis
- Gain a perspective of how your asset’s well servicing activity level, type, cost, and performance delivery distribution compare to peers.
-Types of jobs peers are doing versus jobs in your asset.
-How levels of well servicing activity and spending over time compare to peers.
-How cost efficiencies ($/BOE) of your jobs compare to peers.
-Technical success rate of your jobs versus peers.
- Provide a view of where peer companies are focusing efforts: rate restoring and protecting versus rate generation and optimization.
-How initial rate uplift by job type and category of your jobs compares to peers.
-Which jobs resulted in the highest first-year incremental volume by job type and
category versus peers.
- Insights into the types of equipment that you and your peers are using to execute specific types of work. For example, one asset may be doing wellbore cleanouts using a rig, whereas another could be using coiled tubing.
- Data that could reveal whether certain well construction methods show higher for certain types of jobs. For example, one method of original sand control could correlate to wells that have higher rates of future cleanout jobs.
Scorpion plots are a recognized method for presenting the performance of well intervention, production optimization, and new well delivery programs. These plots allow you to quickly see the performance distribution of your well intervention and optimization program. Multiple scorpion plots are presented in the study, illustrating both asset and peer average comparative performance, including total program delivery and well intervention type category.
Total Asset Wellwork Performance
Asset vs. Peers Total Wellwork Program Performance
The following figure illustrates wellwork metrics (total counts by activity type, cost, and incremental volume performance distribution) for each asset compared to peer average.
Asset vs Peers Wellwork Metrics by Intervention Subcategory
Process and Study Deliverables
- Kick-off meeting between the Solomon team and your team members.
- Data collection via Microsoft® Excel®-based questionnaire.
- Participants receive:
- Customized analysis including conclusions and recommendations.
- Customized executive summary.
- Private debriefing with Solomon operations advisor.