CONTINUED 132 PRODUCTION U.S. RECENT ENHANCEMENTS Texas The Texas Railroad Commission continues to experience significant delays in releasing approved production volumes, which can have a direct impact on the accuracy of our allocation from lease to well level volumes. Our allocation process relies on IP volumes, allowables, dates, tests and well status and when any of these values are missing, the allocation calculations are impacted. It is important to note, allocation for wells that have produced for six months or less will be less accurate than those that have more production history and associated tests. Oklahoma Aggressive efforts put forth in 2013 lead to significant improvement in the overall quality of the Oklahoma production data. IHS has several teams dedicated to resolving Production issues in Oklahoma. These teams are not only resolving errors in the Oklahoma Corporation Commission (OCC) and the Oklahoma Tax Commission (OTC) production data but are also focusing on the development and execution of enhanced workflows to capitalize on other available sources to enhance the State provided production sources currently being utilized. IHS is continuously developing additional processes and technology to ensure we provide the most accurate and complete data available. We have initiated a dedicated team focused on integrating data from the 300R Gatherer reports to address the significant data gaps in the OTC Tax File related to oil production volumes. We started this project in late 2013 as a manual research effort and have quickly escalated this to a full development project using Optical Character Recognition (OCR) technology to minimize the time required to infill the missing volumes in the OTC oil data. We are currently focused solely on horizontal and directional wells, but once the OCR process is fully integrated into the work flow we will then move to address oil production from all wells. The 300R OCR technology, to be launched live in late April 2014, will not only infill historical missing oil volumes but also bridge the currency gap related to the time the Gatherer’s report the data to the OTC and the time the OTC makes the data publically available. This data gap is currently 4-6 months which over time, we anticipate will be reduced to 60-90 days. The graph below is a comparison of production volumes for the top 10 oil producers before and after implementing our manual 300R project initiatives addressing the months of Nov 2013 thru April 2013. Over 70% of the increase in production volume is directly related to the 300R project. To date, in total this initiative has added 7006 individual monthly volumes totaling 7.38 million bbls of oil for the months of Aug 2011 thru September 2013.
IHS Global Energy Information Review
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