Open AccessTechnical and economic assessment of the development of a Colombian Tight Oil reservoir: a simulation case study of Valle Medio del Magdalena basin
Author(s) -
Carlos Alejandro Forero,
Camilo Andrés Guerrero-Martin,
Edgar Julian Forero,
Laura Estefanía Guerrero-Martin,
Alexandre Szklo,
Pedro Rochedo
Publication year - 2021
Publication title -
dyna
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.164
H-Index - 18
eISSN - 2346-2183
pISSN - 0012-7353
DOI - 10.15446/dyna.v88n219.94937
Subject(s) - petrophysics , petroleum engineering , structural basin , geology , drilling , tight gas , work (physics) , tight oil , directional drilling , production (economics) , fracture (geology) , oil reserves , completion (oil and gas wells) , oil production , mining engineering , environmental science , hydraulic fracturing , petroleum , engineering , economics , geotechnical engineering , oil shale , geomorphology , paleontology , mechanical engineering , porosity , macroeconomics
Conventional oil reserves in Colombia are depleted. The country´s reserve-to-production ratio is estimated as 5 years. Therefore, the search for new resources and their conversion into proven reserves are essential. In this case, the production of unconventional reservoirs is an option in Colombia. This work evaluates the technical and economic feasibility of the production of a Tight Oil source rock reservoir, considering parameters such as fracture shape factor, fracture propagation, fracture pressure, international oil price, petrophysical characteristics, fluid properties, drilling cost, completion, and fiscal regime. The methodological development of the work allowed concluding that this reservoir located in the middle Magdalena Valley basin has production potential and those factors such as the type of completion, drilling technique, and cost of lifting the resource have a significant impact on the viability of the project.