Post Tagged with: "Consortium"

Core Lab and Fracture ID Launch Consortium to Study the Wolfcamp

Core Lab and Fracture ID Launch Consortium to Study the Wolfcamp

Core Lab (ticker: CLB) and Fracture ID, two companies coming to EnerCom’s The Oil and Gas Conference® in August, have worked together to launch the Horizontal Reservoir Characterization Consortium—Midland Basin. The idea is to evaluate geologic heterogeneity within the entire basin, and how it impacts well production. The consortium of operators will use Fracture ID’s Drillbit Geomechanics™ technology to collect data on reservoir heterogeneity in the Wolfcamp basin. The data collection will also rely on Core Lab’s analysis of rock cuttings samples from the drilled wells. Collected data will be added to Core Lab’s existing Midland-centric database, the Midland Basin Joint Industry Project (JIP). The study and data collection will be undertaken with the intent of eventually exploring how the geologic understand and new data might allow operators to make more informed decisions regarding perforations strategies. Any collected data will also be used to update existing reservoir models. The industry[Read More…]