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Osprey Risk
Well construction operators worldwide understand that lack of time and inefficient tools result in inadequate well planning. Redesigning a well in progress will often result in a poor plan because of late notice and insufficient time to work on the problems. Often, risk analysis is based on drilling history, which can mask serious risks in your current well design project. Inconsistent risk assessment processes fail to identify the primary cause of costly drilling problems: stuck pipe, kicks, and losses. These problems lead to significant nonproductive time (NPT) and cost overruns. At the same time, E&P companies face growing pressure to reduce costs, while fewer engineers are drilling increasingly difficult wells.
The Osprey Risk drilling risk prediction model helps you achieve a step change in performance by improving and standardizing your well planning process. You can update well construction scenarios while drilling to evaluate changes to the risk profile and forecasted time/cost estimates. If your rig needs to sidetrack at short notice, you can
- quickly review alternatives (with their time, cost, and risk estimates)
- select the best option
- generate all necessary documentation to obtain a supplementary budget
- provide a drilling program to the rig.
Using this breakthrough technology, engineers throughout your organization will better understand and manage risks, deliver more accurate cost estimates, reduce NPT, and avoid costly drilling problems.
Benefits
- Evaluate drilling projects with a consistent method by implementing a standardized planning process throughout your organization
- Reduce NPT by quickly identifying high-impact drilling problems and focusing detailed engineering efforts
- Understand critical risks based on engineered well plans that incorporate earth model information
- Better understand cost versus risk trade-offs by easily testing alternative scenarios
- Generate probabilistic time and cost estimates to better understand your schedule risk and financial exposure
- Automate drilling program documentation, including an operational activity plan to benchmark rig activities and AFE-grade cost estimates, to improve staff productivity
Focus on critical risks for smarter cost estimation
The Osprey Risk prediction model is the first E&P software application that incorporates earth-property data to estimate drilling risk and cost. You can rapidly test well design concepts and easily evaluate various cost estimates, taking into consideration trade-offs to balance rate of penetration versus stuck pipe and kicks. Results of Monte Carlo simulation for probabilistic analysis show the full range of possible time and costs, providing you with a better understanding of your schedule risk and financial exposure. By automatically assigning time and cost to all phases of the well operation, the Osprey Risk model provides accurate estimates for budgetary purposes with greater consistency, reducing the time your engineers spend on cost estimation.
Reduce operational risk and cut cost
Osprey Risk technology supports
- standard workflow to quickly and objectively rank prospects relative to cost and risk
- advanced workflow incorporating geomechanical earth-model information to more accurately model and mitigate risks caused by wellbore instability.
Using only a well trajectory and minimal rock property information or a complete geomechanical earth model, Osprey Risk software automatically designs the entire well, providing a fit-for-purpose well plan. By integrating a comprehensive geomechanical model, the Osprey Risk model delivers more accurate well plans when drilling in complex geological settings. Thus, you can avoid cost overruns from NPT caused by wellbore instability or lost circulation. Additionally, costly drilling problems—extra casing strings, tools lost-in-hole, sidetracks, or loss of the entire well—can be circumvented.
Generate automated reports
Automatically created reports highlight trouble zones and indicate the severity of potentially high-impact risks. With this information, drilling engineers can focus their time on mitigating critical risks. Additional reports present detailed engineering results, including an editable operational activity plan that can be used to benchmark rig activities or for technical limit exercises.
The well-on-a-page summary and well-engineering montage can be used for peer reviews or as drilling road maps. The probabilistic authorization for expenditure (AFE) makes it easy to create the required documentation for internal approval and project sanctioning. The drilling program can be created with summary charts, tables, and text, dramatically improving the efficiency and productivity of your engineers.
Integrate with other products
The Osprey Risk application makes it easy to integrate planning, execution, and evaluation workflows with other E&P and drilling solutions from SIS, such as the following:
- Interactive Petrophysics log analysis system generates the earth model inputs for the Osprey Risk model, such as pore pressure and fracture gradient.
- Petrel seismic-to-simulation software offers collaborative visualization on the desktop, with modules for well path design and for quickly estimating the cost, time, and risk of proposed wells and sharing these results with the Osprey Risk application.
- Drilling Office integrated drilling engineering suite loads directional drilling proposals for focusing detailed engineering efforts.
- Osprey Reports well operations reporting system uses shared operational plans, well design elements, and predicted risks for bench marking rig activities and alerting wellsite teams to elevated risk levels.
- Osprey Operations Manager drilling operations surveillance and performance analysis system provides the plan used for comparing actual performance and updating the equipment and performance used as the design basis within the Osprey Risk Model.
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