Latter to me
10 replies (most recent on top)
People running the models were so out of touch with the asset it was hard to have faith in them
Reservoir simulation should be a critical aspect of your reservoir management strategy, which drives your development strategy, which drives your budget process. If you don't have a reservoir simulator, then you just cut and paste the previous year's budget and tweak as necessary. Reservoir simulators can sometimes be off because the reservoirs are often more complicated than the modelers imagined. So trying to understand the complexities of the reservoir, through simulation and classical reservoir engineering, can lead to better development strategies.
I didn’t know we had anyone doing models. Why don’t you tell us where to drill
Why bother with numerical simulation when you can just ask CoPilot.... or better yet, ask ENGINE
underappreciated, very unique and hard to acquire set of skills that are critical to manage risks in asset development.
Very few decisions were ever made off of models, if the results didn’t align with mental models people would just argue with the results
mature skill they are no longer value and few needed unfortunately.
They're hugely valuable across the broader industry.
Chevron has narrowed the Reservoir Engineering function to remove the highest value elements (economic analysis, valuation, decision making).
There is still value in volumes forecasting. However, the groups which focus myopically on simulation or forecasting without partnership from the BUs and decision makers should be worried. Similarly, the REs which are functional techs and spend their days doing DCA or building type curves should be worried.
Reservoir engineers: frequently wrong, but seldom in doubt.
Regardless of appreciation.. they are moving to India unfortunately.