Financial methods for waterflooding injectate design

• US 9,727,928 B2
• Filed: 03/05/2014
• Issued: 08/08/2017
• Est. Priority Date: 03/14/2013
• Status: Active Grant

• Current Assignee: National Technology & Engineering Solutions Of Sandia LLC (Honeywell International Inc.)
• Original Assignee: National Technology & Engineering Solutions Of Sandia LLC (Honeywell International Inc.)
• Inventors: Brady, Patrick V., Heneman, Helmuth J.
• Primary Examiner(s): Shah, Kamini S
• Assistant Examiner(s): Hann, Jay B
• Application Number:
  US14/198,228
• Publication Number:
  US 20140311750A1
• Time in Patent Office: 1,252 Days
• CPC Class Codes: C09K 8/00 Compositions for drilling of boreholes or wells; Compositions for treating boreholes or wells, e.g. for completion or for remedial operations
• CPC Class Codes: E21B 43/16 Enhanced recovery methods for obtaining hydrocarbons
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 50/02 Agriculture; Fishing; Forestry; Mining

Abstract

A method of selecting an injectate for recovering liquid hydrocarbons from a reservoir includes designing a plurality of injectates, calculating a net present value of each injectate, and selecting a candidate injectate based on the net present value. For example, the candidate injectate may be selected to maximize the net present value of a waterflooding operation.

Claims

1. A method, comprising:

measuring physico-chemical data that is at least in part representative of electrostatic interactions between a liquid hydrocarbon in a reservoir; and

determining a transition point between primary and secondary extraction based on a theoretical model of the electrostatic interactions using the physico-chemical data and financial data;

wherein the physico-chemical data and the financial data collectively comprise static, dynamic data, or both; and

wherein determining the transition point comprises;

measuring the static data;

iteratively gathering the dynamic data;

selecting a composition of the injectate based on the static data, the dynamic data, or both;

calculating a net present value of the injectate based on the composition of the injectate; and

determining the transition point based on the net present value of primary and secondary extractions taken from the reservoir.

2. The method of claim 1, comprising recovering hydrocarbons from a reservoir through secondary extraction using an injectate after the transition point.

3. The method of claim 2, comprising recovering hydrocarbons from the reservoir through primary extraction before the transition point.

4. The method of claim 1, wherein the static data comprises liquid hydrocarbon chemistry, connate water chemistry, reservoir mineralogy, reservoir physics, a decline curve, or any combination thereof.

5. The method of claim 1, wherein the dynamic data comprises liquid hydrocarbon chemistry, water chemistry, a liquid hydrocarbon to water ratio, oil and water permeabilities, a cost of the injectate, a market price of hydrocarbons, potential environmental compliance costs, or any combination thereof.

6. The method of claim 1, and further including the step of periodically updating the model of the reservoir.

7. The method of claim 1, wherein calculating the net present value comprises evaluating a primary decline curve, a secondary decline curve, a cost of the injectate, a market price of the hydrocarbons, or any combination thereof.

8. The method of claim 7 wherein calculating the net present value is done iteratively to provide a real-time valuation of the reservoir.

9. A method of selecting an injectate for recovering a liquid hydrocarbon from a reservoir, comprising:

designing a plurality of injectates, each injectate having a distinct composition;

calculating a net present value of each injectate of the plurality of injectates; and

selecting a candidate injectate from the plurality of injectates based at least in part on the net present value of hydrocarbon recovery using each injectate;

wherein calculating the net present value comprises determining a transition point between primary extraction and secondary extraction based on physico-chemical data and estimating hydrocarbon recovery through the secondary extraction at or after the transition point;

wherein the physico-chemical data comprises static data, dynamic data, or both; and

wherein determining the transition point comprises;

measuring the static data;

iteratively gathering the dynamic data;

selecting an injectate composition based on the static data, the dynamic data, or both;

calculating a net present value of the primary extraction using an electrostatic model that links connate water chemistry, wettability, and primary recovery;

calculating a net present value of the secondary extraction using the injectate composition; and

determining the transition point based at least in part on the net present value of the primary and secondary extractions.

10. The method of claim 9, wherein the net present value of hydrocarbon recovery comprises market value of oil and other hydrocarbons co-produced from the reservoir.

11. The method of claim 9, wherein designing the plurality of injectates comprises:

measuring the physico-chemical data representative of electrostatic interactions between the liquid hydrocarbon and the reservoir materials; and

designing the composition of each injectate of the plurality of injectates based on a theoretical model of the electrostatic interactions using the physico-chemical data.

12. The method of claim 9, wherein calculating the net present value comprises evaluating a primary decline curve, a secondary decline curve, injectate cost, a market price of hydrocarbons, or any combination thereof.

13. A method of determining the composition of an injectate for recovering hydrocarbons from a subterranean reservoir with an economic outcome, comprising:

a. selecting (1) physico-chemical dynamic data for a plurality of injectate compositions, and (2) financial data for determining profitability of using the injectate compositions;

b. calculating economic outcomes of the plurality of injectate compositions using the physico-chemical dynamic data and the financial data; and

c. comparing the economic outcomes for the plurality of injectate compositions for determining an injectate composition with a desired economic outcome;

wherein the selecting physico-chemical dynamic data comprises;

measuring physico-chemical data representative of electrostatic interactions between the liquid hydrocarbon and materials in the reservoir; and

designing the composition for the injectate based a theoretical model of the electrostatic interactions using the physico-chemical data;

determining a transition point between primary and secondary extractions of the subterranean reservoir based on a theoretical model of the electrostatic interactions using the physico-chemical dynamic data, and selected financial data;

wherein the physico-chemical dynamic data and the financial data comprise static data, dynamic data, or both;

wherein determining the transition point comprises;

measuring the static data;

iteratively gathering the dynamic data;

selecting an injectate composition based on the static data, the dynamic data, or both;

calculating a net present value of the primary extraction using an electrostatic model that links connate water chemistry, wettability, and primary recovery;

calculating a net present value of the secondary extraction using the injectate composition; and

determining the transition point based at least in part on the net present value of the primary and secondary extractions.

14. The method of claim 13, wherein determining the desired economic outcome comprises determining a transition point between primary extraction and secondary extraction based on the physico-chemical data and estimating hydrocarbon recovery through the secondary extraction at or after the transition point.

15. The method of claim 13, wherein determining the desired economic outcome comprises evaluating a primary decline curve, a secondary decline curve, a cost of the injectate, a market price of hydrocarbons, or any combination thereof.

16. The method of claim 13, wherein the injectate is combined with a fluid used for at least one of the following purposes:

fracturing subterranean rock, emplacing polymer, and following a CO₂ injection.

17. The method of claim 16, wherein the step of estimating net present value further comprises determining a present value ranking of alternative injectates subject to local environmental/regulatory constraints.

18. A method of recovering hydrocarbons from a reservoir using an injectate, comprising:

recovering a liquid hydrocarbon from the reservoir through primary extraction;

measuring physico-chemical data that are at least in part representative of electrostatic interactions between the liquid hydrocarbon and other reservoir materials;

determining a transition point between primary and secondary extraction based on a theoretical model of the electrostatic interactions using the physico-chemical data, and selected financial data; and

recovering the hydrocarbons from the reservoir through secondary extraction using an injectate at or after the transition point;

wherein the physico-chemical data and the financial data comprise static data, dynamic data, or both;

wherein determining the transition point comprises;

measuring the static data;

iteratively gathering the dynamic data;

selecting an injectate composition based on the static data, the dynamic data, or both;

calculating a net present value of the primary extraction using an electrostatic model that links connate water chemistry, wettability, and primary recovery;

calculating a net present value of the secondary extraction using the injectate composition; and

determining the transition point based at least in part on the net present value of the primary and secondary extractions.

19. The method of claim 18, further comprising:

selecting a composition of the injectate based on the physico-chemical data and the financial data including but not limited to financial data for liquid and co-produced hydrocarbons.

20. The method of claim 18, wherein determining the transition point comprises calculating a net present value of the secondary extraction using the injectate, wherein the financial data net present value comprises a sum of outgoing and incoming cash flows from the secondary extraction.

21. The method of claim 20, wherein calculating the net present value comprises evaluating a primary decline curve, a secondary decline curve, injectate cost, a market price of the liquid hydrocarbon, or any combination thereof.

22. The method of claim 18, wherein the static data comprises liquid hydrocarbon chemistry, connate water chemistry, reservoir mineralogy, reservoir physics, a decline curve, or any combination thereof.

23. The method of claim 18, wherein the dynamic data comprises liquid hydrocarbon chemistry, water chemistry, a liquid hydrocarbon to water ratio, a cost of the injectate, a market price of the liquid hydrocarbon, or any combination thereof.

24. A method for estimating a net present value of hydrocarbons in a subterranean reservoir, comprising the steps of:

a. calculating an oil wettability state for the reservoir by using (1) an oil-reservoir electrostatic adhesion model, and (2) reservoir data;

b. determining potential hydrocarbon production from the reservoir through at least one of a primary or secondary extraction process by using (1) the oil wettability state from step “

a”

, and (2) reservoir data; and

c. estimating a net present value of hydrocarbons in the reservoir from a combination of (1) the potential hydrocarbon production from at least one of a primary or secondary extraction process from step “

b”

, (2) selected financial and/or market data for the hydrocarbons and available injectates;

wherein the step of determining potential hydrocarbon production further comprises the steps of calculating decline curves for primary and secondary extraction;

wherein the step of estimating potential hydrocarbon production further comprises the steps of calculating a plurality of decline curves for primary and/or secondary extraction based on different injectate chemistries;

and further comprising the steps of optimizing the net present value estimate by (1) calculating hypothetical cash flows for continued primary production and for each primary and/or secondary extraction for which decline curves are calculated using the different injectate chemistries, (2) combining the discounted cash flow curves for each primary and secondary extraction calculation, and (3) selecting a transition point and injectate chemistry that achieve maximum net present value.

25. The method of claim 24, and further comprising repeating steps (1)-(3) of claim 24 periodically.

26. The method of claim 25 and further including the step of altering the injectate composition to maximize net present value.

27. The method of claim 24, where in the reservoir data in step “

a”

comprises one of more of;

the acid and base number of the oil, the chemical composition of the connate fluid, the mineralogy of the reservoir, temperature and bubble point of the oil.

28. The method of claim 24, wherein the reservoir data in step “

b”

comprises one or more of;

the acid and base number of the oil, the chemical composition of the connate fluid, injectate composition, the mineralogy of the reservoir, and reservoir temperature and bubble point of the oil.

29. The method of claim 24, where the financial data in step “

c”

comprises one or more of;

a discount rate and capital costs.

30. The method of claim 24, wherein the market data in step “

c”

comprises one or more of;

price of oil and any co-produced hydrocarbons, cost of injectate production, field workover costs, drilling costs, and cost of water disposal.