Globally the oil and gas industry spends around $15BN each year assessing reservoir rock properties for production decision-making. Approximately 1 in 10 wells assessed is then incorrectly developed (at an exploration cost of $12M per well) and subsequently abandoned. Including rig costs, the estimated annual cost of wells that are abandoned during exploration and development is around $37BN.
ADP is delighted to introduce its MagPI™ tools and services; these bring an innovative reservoir evaluation method to market and will significantly improve decision making, thereby reducing the risk, time and cost of developing reservoirs. The new method will reduce the number of incorrect development decisions taken with regard to both viable and unviable reservoirs.
The method is protected by patent and has hitherto been used on a limited scale for commercial lab analysis to assess reservoir rock properties (lithology) and in particular rock permeability (the ease with which fluids flow through rock). Permeability is one of the most important parameters controlling reservoir productivity but historically has been one of the most elusive to accurately evaluate.
Company Details
- Employees
- 2
- Founded
- -
- Address
- Aberdeen
- Phone
- +44 (0)1224 909299
- in****@****bal.com
- Industry
- Oil And Gas
- NAICS
-
Oil and Gas Extraction
- Website
- magpiglobal.com
- HQ
- Aberdeen
Advanced Downhole Petrophysics Ltd Questions
Advanced Downhole Petrophysics Ltd's helpline number is +44 (0)1224 909299
Advanced Downhole Petrophysics Ltd's website is magpiglobal.com
Advanced Downhole Petrophysics Ltd's LinkedIn profile is https://uk.linkedin.com/company/advanced-downhole-petrophysics-ltd
Advanced Downhole Petrophysics Ltd has
2 employees.
View email and phone details for 2
employees at Advanced Downhole Petrophysics Ltd.
Advanced Downhole Petrophysics Ltd's industry is
Oil and Gas
Advanced Downhole Petrophysics Ltd's top competitors are
British Geophysical Association,
3eyond Consulting Group,
Axis,
Gprmax,
Ithaca Energy,
Baker Hughes.
Advanced Downhole Petrophysics Ltd's support email address is info@MagpiGlobal.com
Advanced Downhole Petrophysics Ltd's categories are Oil and Gas
Advanced Downhole Petrophysics Ltd's founding year is 2012
