{"id":8985,"date":"2018-03-18T00:00:00","date_gmt":"2018-03-18T00:00:00","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/how-effective-is-your-appraisal\/"},"modified":"2022-09-07T02:53:23","modified_gmt":"2022-09-07T01:53:23","slug":"how-effective-is-your-appraisal","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/reports\/how-effective-is-your-appraisal","title":{"rendered":"How Effective is Your Appraisal?"},"content":{"rendered":"<h1>Why do so many oil and gas projects fail to\u00a0produce as expected?<\/h1>\n<hr \/>\n<h4>Half of oil and gas fields are not producing to expectations due to\u00a0reservoir issues. This could have been mitigated before project startup\u00a0with more efficient appraisal.<\/h4>\n<p>This report examines the appraisal scope and strategies of 70 oil and gas fields, as selected from the Appraisal module within Westwood Global Energy\u2019s Wildcat service. The assets\u00a0are spread globally, with operators ranging\u00a0from supermajors to small E&amp;P companies. Appraisal programmes are benchmarked to\u00a0understand how production performance\u00a0is related to the effectiveness of appraisal.\u00a0Lessons learnt from this study show there is room for improvement in appraisal\u00a0practices to increase the chance of success\u00a0of future upstream projects.<\/p>\n<p>Use the report to:<\/p>\n<ul>\n<li>Understand how field production performance relates to the effectiveness of appraisal<\/li>\n<li>Examine the most common subsurface causes of field non-performance<\/li>\n<li>Identify appraisal analogues and benchmark appraisal programmes<\/li>\n<li>Access lessons learnt and recommendations to improve appraisal practice and reduce development risk<\/li>\n<\/ul>\n<p>Report structure:<\/p>\n<ul>\n<li>Analysis of reservoir issues encountered in non-performing fields<\/li>\n<li>Appraisal benchmarking<\/li>\n<li>Relevance of appraisal strategy \u2013 four case studies<\/li>\n<li>Lessons learnt and recommendations<\/li>\n<li>Selected examples of \u2018non-performing\u2019 fields from the Wildcat database<\/li>\n<\/ul>\n<p>Key Findings:<\/p>\n<ul>\n<li>50% of the fields were subject to reserves revisions after production started, on average +68% for those with reserves increases and -60% for those with decreases.<\/li>\n<li>84% of the assets not matching expectations had unexpected reservoir production performance and 51% required reservoir volume estimate revisions.<\/li>\n<li>70% of fields with limited appraisal did not perform to the development plan. The number of reservoir penetrations is important, but is not the only factor.<\/li>\n<li>Appraisal well location, the type of data\u00a0acquired and the timing of the data acquisition\u00a0are also important factors.<\/li>\n<li>Improvements in appraisal practices that can increase the chance of success of future upstream projects are identified.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4>Obtain the report<\/h4>\n<p>Should you wish to purchase this report, please contact <a href=\"mailto:sales@westwoodenergy.com\">sales@westwoodenergy.com<\/a><\/p>\n<p>The Appraisal database within Wildcat is available\u00a0on a subscription basis and can be used to scope\u00a0duration, cost and number of wells, early in the\u00a0appraisal programme.\u00a0Please <a href=\"mailto:sales@westwoodenergy.com\">contact us<\/a> for a demo of the Wildcat\u00a0Service and see the Appraisal Module in action.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why do so many oil and gas projects fail to\u00a0produce as expected? Half of oil&#8230;<\/p>\n","protected":false},"author":1,"featured_media":9727,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[326,347,338,320,318,335,334,336],"tags":[],"class_list":{"0":"post-8985","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-atlas","8":"category-exploration-and-production","9":"category-nw-europe-subsectors","10":"category-nw-europe","11":"category-reports","12":"category-sectors","13":"category-solutions","14":"category-subsectors"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Effective is Your Appraisal? - Westwood<\/title>\n<meta name=\"description\" content=\"Examining the appraisal scope and strategies of 70 oil &amp; gas fields, as selected from the Appraisal module within Westwood Global Energy\u2019s Wildcat service.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.westwoodenergy.com\/reports\/how-effective-is-your-appraisal\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Effective is Your Appraisal? 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