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ResAssure [SMART 100, 2015]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

The idea behind the innovation arose from observations by the inventor, Dr. Andrew Wadsley, initially in 1991 but continuing through to the mid-2000s, who saw that simple but generic constraints on hydrocarbon production — volume balance, mass balance and pressure response — gave excellent estimates of hydrocarbon reserves when applied probabilisitically. Since these constraints should automatically be satisfied in any reservoir simulator, the inescapable conclusion was that lack of probabilistic modelling was leading to precise, but wrong, production forecasts as used in oil field development planning.

2. WHAT & HOW

The purpose of this innovation is to…

ResAssure is an innovation in reservoir simulation currently solving fully implicit, dynamic three-phase fluid flow equations for every geological realisation. ResAssure marks a significant milestone in the history of reservoir simulation, leading technological advancements in the oil and gas industry.

It does this by…

ResAssure’s core simulator achieves tremendous simulation speeds using various advanced mathematical techniques. ResAssure’s speed breakthrough is achieved by a combination of proprietary algorithms, polygonal gridding and aggressive spatial coarsening and time stepping. It provides fully implicit simulation realisations without using proxy or approximation techniques and is able to achieve, overnight, what would take engineers years using conventional simulation technology.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

As the industry is moving away from a single deterministic representation of the reservoir, the existing methods (ensemble or gradient-based approaches) struggle to solve the inverse problem. The non-uniqueness in the history-matched solution has been accepted in recent years but long iterative processes requiring large numbers of simulation runs had made the process very difficult prior to ResAssure.

Its various benefits to the customer/end-user include…

This technological breakthrough pushes the boundaries of handling subsurface uncertainties. Oil and gas companies and consulting firms will benefit from:

  • overnight automatic history matching
  • faster and better understanding of reservoir uncertainty
  • optimised recovery and production
  • evidence-based decision support
  • better investment decisions

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

​The problem of uncertainty quantification in the oil and gas reservoir simulation has never been solved by any other reservoir simulation technology and is not possible to do with current technology other than by ResAssure.

Its predecessors/competitors include…

ResAssure’s predecessors/competitors include traditional reservoir simulators such as Eclipse, ​VIP, CMG & tNavigator. Also, specific history-matching tools such as MEPO & EnAble.

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5. TARGET MARKET

It is made for…

ResAssure is extremely useful to the global oil and gas industry including exploration and production companies, associated consulting companies and most importantly financial institutions. The stochastic simulation of hydrocarbon reservoirs provided by ResAssure reduces risk in the development of oil and gas fields and narrows the range of uncertainty in resource estimates. This reduces the potential for either over- or under-investment and provides an unprecedented level of certainty for oil and gas reserves and project profitability.

It is available for sale through…

We sell through accredited third-party consultant sales partners who support exploration and production end-users. Our services are hosted on the cloud, globally delivered and accessed via the Internet and paid for on a PAYU basis.

Our marketing strategy is to…

…partner with Industry service providers and support ​their consulting​ services to ​their exploration and production clients​ ​​using our technology ​with online​ ​content​ ​and ​​training We ​develop and publish technical papers and proven case studies, training​ material​, and interactive marketing material for users,​ ​which helps position us as thought leaders in our industry​.​

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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