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SPE Summit addresses drilling risk reduction.
A 2 day summit held 17-18 March 2011 has made a number of authoritative recommendations regarding management oversight, processes, responsibility and accountability that suggest a trend towards tighter management of drilling and well construction projects.
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OGP recommends better controls and standards.
The International Association of Oil and Gas Producers ("OGP") has strongly advocated improvements in the way operators document and control well construction projects.
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JPT article - The Future Ain’t What It Used to Be, Or Is It?
This article describes the method used in Korax reports to characterise risk in well projects using the ratio P90/P50 (time). The ratio can be used to substantiate estimates in areas where data is scarce and to compare risk from one area with another. Characterising and quantifying risk is a big issue for new well projects, the Korax tool is highly effective, robust and credible.
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Contract signed with Senergy for exclusive rights to Korax
EPSL are pleased to announce that Senergy, a global energy services company, have been awarded exclusive rights to use and market Korax, the proprietary project estimating tool.
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Eikos V2.0 Launched
EPSL and Codify are delighted to launch Eikos V2.0, the groundbreaking project and knowledge management software. Eikos V2.0 has built on the succes of the first version, taking into account nearly 3 years of experience and user feedback.
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JPT article - Reality Checks for Well Time and Cost Estimates
This article describes a novel method developed by EPSL to quality check stochastic estimates for the duration and cost of new well projects.
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