Thursday, 22 May 2014

Quantified success story #80 - ConocoPhillips

I blogged yesterday about the mention of Knowledge Management in the ConocoPhillips Analyst meeting in New York last month.

Here is a quantified success story from that meeting, told by one of the company Vice Presidents.
"Where we have a new technology we have developed in the conventional side of our business and now we are using it profitably in the Eagle Ford.  I'm talking here about integrated operation centers. These were first developed in Norway for use in the North Sea and in western Canada. We now have them employed in nine different locations around the world and we have one working at the Eagle Ford. 
"We installed this integrated operation center in the Eagle Ford in the first quarter
of 2012. If you look at the gray bars prior to that point in time, we were experiencing as many as 250 well shut-in events per quarter and obviously that was costing us production. Once we got this integrated operation center, even though the number of active wells continued to climb as shown in the green curve, we were able to drive our well shut-in events down to near 0. 
"And we added almost 7,000 barrels a day to our realized production last year just through this effect using this integrated operation center. So I think it's great to be able to see how we are able to move these technologies in both directions across our company from the conventional to the unconventional and the unconventional over to the conventional in both directions. So I think those are a couple of great examples, of many examples actually, of how we are able to leverage knowledge between the conventionals and unconventionals". 

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