| Topic: | Hydraulic Fracturing - The Data Management Challenge |
| Date: | February 2, 2012 |
| Time: | 11:30 am - 1:00 pm
** Lunch will be provided |
| Location: | Whiting Petroleum Corporation
1700 Broadway, Suite 2300
Denver, Colorado 80290
Go Directly to the 14th Floor |
| Please RSVP to: |
This event has limited capacity!
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Overview:
A majority of the new wells being drilled in the US today (60%) are horizontal wells that are designed to unlock the vast quantities of oil and gas in shale plays that were previously considered non-commercial. The success of these wells depends upon complex completion technology involving the fracturing of hydrocarbon bearing formations through the injection of fluid under extremely high pressure - hydraulic fracturing. This process is garnering tremendous attention from outside industry because of the potential environmental impact associated with:
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Surface activities - air, noise, and visual pollution
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Water sources - a single Frac job can require 4 million gallons of water
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Chemicals - added to the water to increase fracturing effectiveness
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Water disposal - the Frac fluid needs to be safely reclaimed or disposed of
The responsibility for complying with regulatory requirements belongs with the regulatory compliance staff. However, there is a significant impact from a data management perspective:
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Companies will need to manage and report a great deal more information than in the past
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There are changes in fracturing techniques that will result in the collection of even more data
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The archiving of historical data will gain more attention
Effectively capturing and managing all of this data is becoming of critical importance to oil and gas companies from regulatory, legal, and resource development viewpoints.
This lunch & learn session is intended to present an overview of the changes in regulations/reporting and then open up for discussion around the associated data management challenges. Bruce Smith, VP at IHS Inc., will report on some of the changes in regulatory reporting.
Discussion Items:
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How do companies receive hydraulic fracturing data today, how is this managed, and what are the challenges with this?
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What impact will recent changes and trends in regulatory reporting have in terms of data management?
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What are the key requirements in the design of a system to capture and manage complex completion and hydraulic fracturing data to support the needs of the organization both now and in the future?
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Is there interest in establishing a working group to keep track of the issues and share information about solutions?
