August Luncheon Meeting

LOCATION: Luncheon will be held at the Museum of the Southwest in the Blakemore Planetarium.

TOPIC: How advanced formation evaluation makes Permian Basin operators profitable with oil price $20 per barrel - Dr. Vladimir Ingerman

ABSTRACT: Amros ShaleVision™ technology identifies the highest producing zones (sweet spots) in shale and tight rock. It is based on the advanced interpretation of open-hole log data using an equation that was distilled from a unique set of data. The set included permeability derived from hundreds of pressure build-up well tests. The permeability represents the real drainage area in actual in situ conditions. This is extremely critical information to optimize not only well placement but also well spacing. It shows that the drainage areas for different formations, for example Wolfcamp A and Wolfcamp B, can vary significantly. It also shows that the drainage area for any formation can change significantly with lateral shift, even just a few miles.

The technology is validated in the Permian Basin by several operators and Chevron Technology Ventures. We can see that developing only sweet spots allows operators to decrease production costs by a factor of three as compared with geometrical drilling.

ShaleVision™ radically changes Operator’s success rate:

· Increasing production and reducing development cost

· Increasing recovery efficiency

· Reducing environmental impact

It can be easily tested using the data that operators already have. The trial will provide valuable information to increase production from areas considered depleted. Then ShaleVision™ can be applied for new development.

BIO: Dr. Ingerman received a Doctor of Technical Science, as well as a Ph.D. in oil field development, and a Master of Science in geophysical methods. He has 54 professional publications including a book. He has advised all major Russian oil companies, Schlumberger, Halliburton, Amoco, Shell, El Paso and others in the US, most major oil companies in South America, Maersk Oil in Denmark and ONGC in India.

He founded Amros corporation in 1994. Amros Corporation has been providing innovative geoscience solutions to help operators optimize the development of both conventional and unconventional reservoirs around the world:

· Made successful testing of the new technique for direct hydrocarbon identification using seismic data in USA and Columbia.

· Developed the methodology to identify the formation signature that was successfully used to verify formation tops and determine which wells belonged to the same structure without seismic data for offshore Brazil.

· Developed technology for calculating the oil saturation factor for oil-wet, unconsolidated reservoirs with heavy oil in Venezuela.

· Developed the methodology for interpretation of marine littoral shale deposits that allows obtaining a commercial oil flow in the environment where conventional methods were ineffective in India.

In 2013 Amros Corporation introduced ShaleVision™, our proprietary technology based on decades of research and analysis that identifies the highest producing zones in shale plays, allowing operators to target the best producing zones and avoid the cost of drilling low productive wells. ShaleVision™ awards:

· Selected to participate in the InnoSTARS Competition 2019, hosted by the US - China Innovation and Investment Summit.

· Award Winner in Innovation in Technologies in The Global Petroleum Show 2018.

· Finalist in the category New Horizons Idea in The World Oil Awards 2016.

· Named Most Promising Company by Rice Alliance 2015