LAS is a critical part of our technical team and has added tremendous value to our assets. Their full suite of formation evaluation, frac design, frac bidding and frac execution has resulted in substantially higher IP’s and much lower frac costs for Hibernia Resources. The LAS partnership has allowed us to grow to a multi rig development program without having to hire additional in-house employees.
LAS has been very helpful to our company in aiding in the evaluation and optimization of our current Wolfberry assets. With the integration of their log suites and completion experience, we have been able to raise the bar for our production and significantly increase our reserve projections for those assets. The technical team has been a pleasure to work with and we have seen a direct correlation between using LAS and increased production!
Log Analysis Solution, LLC (LAS) was asked by Spiral Energy Corporation to evaluate an underperforming, uneconomical well making approximately 5 BOE. LAS has a simple belief that oil in the tank is the only way to prove success, and felt that this well could become another success. First LAS evaluated the open hole log data, using its PayFinder software. Next with help from another LAS product SWA (Sulfur Water Analysis) perforations where picked to avoid the possibility of producing sulfur water. Finally using a third LAS product RockPro a fracture design was developed. Using LAS recommendations Spiral Energy Corporation, was able to increase production eight fold, another success story, a barrel at a time.
Since we started using LAS in 2015 our new well production has increased 25%. We contribute this to their technical team’s years of experience in the Permian Basin and proven technologies. Their OneLook log analysis answer product has allowed us to better optimize the completion and save money by eliminating waste stages. The OneLook rock properties allow the frac design to be optimized and LAS’s field consultants ensure the job is pumped per design. The increase in production coupled with the cost savings of bidding completion work has allowed us to continue to drill and make money in our current low oil price market.