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Story Courtesy of Rushmore Reviews<\/p>\n
Apache Corp and Midstates Petroleum are the latest of a series of Operators to start sharing key performance data on the drilling, completions and frac\u2019ing operations of their tight gas, tight oil and shale wells. Their participation in the \u201cRushmore Reviews\u201d enables them to efficiently exchange high quality and reliable data with other performance-focussed Operators in the resource plays. They use this data to help them improve their well planning, budgeting, performance management and benchmarking processes.<\/p>\n
Mitch Elkins, Vice President of Drilling and Completions for Houston-based Midstates Petroleum said ‘I have participated in the Rushmore Reviews in a variety of international locations since the early 1990\u2019s. I have found them to be a great tool for both internal and external evaluation of our operations. It is critical that we continually evolve and improve both our operations and those of the industry as a whole. The Reviews are also key to sharing industry best practices and promoting discussion and cooperation between companies. We are excited to become part of the Reviews with our North American operations and look forward to the benefits it will deliver’.<\/p>\n
Apache and Midstates are joining with BHP \/ Petrohawk, Chesapeake, Chevron \/ Atlas, ConocoPhillips, Eni, EP Energy, Hess, Hunt, Husky, Marathon, Murphy, Newfield, Nexen, Pan-American, Pioneer, Samson Resources, Santos, Shell, Statoil \/ Brigham, Suncor, Talisman and Total in this fast-growing data sharing consortium.<\/p>\n
Mitch continued, ‘I like the fact that the participating Operators decide what data to share and the rules that govern the sharing process as this puts us firmly in the driving seat. The option to also share IP (initial production) data, that was agreed at the last participants meeting, also adds a new and valuable option’.<\/p>\n
Established by a group of Operators in 2012, this Review covers wells in \u2018tight\u2019 reservoirs that require multi-stage fracturing as well as shale oil and gas wells.<\/p>\n
Helen Rushmore, Director of Rushmore Reviews, who manage this process on behalf of the Operators, said ‘The fact that all these Operators has committed to provide between three and five years\u2019 worth of data shows how committed they are to achieving \u2018top quartile\u2019 performance\u201d.
\nHelen concluded \u201cThere can be no doubt that performance excellence is vital for success in the shale and tight reservoir plays and the only way an Operator can measure its comparative level of performance is through access to high quality, reliable offset data.’<\/p>\n
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