PETEX 2016

PETEX is a biennial event, held at London’s ExCeL conference centre on the 15th – 17th November, and features the latest improvements in exploration and production development, and related subsurface technologies. The event also comprises a comprehensive technical programme which highlights the most up to date activity in exploration, field development, reservoir management and unconventional exploitation.

At this year’s show we will be demonstrating the new features of our Velit software package, with our focus this year being to highlight the issue of uncertainty associated with depth conversion. Velit 1.9 contains a large number of enhancements that enable the user to derive their best depth conversion techniques and uncertainty analysis as efficiently as possible.  New features allow automated cross-validation of methods and better visualisation of velocity functions.

The uncertainty analysis tools allow your best case depth conversion model to be randomised within known constraints to derive a range of probable realisations.  Ranges may now be provided in the Wizard as you derive the depth conversion method for each layer in the model.  Constraints for volumetric computations may now be entered in the Wizard interface, and displays for animation configured as you build the model.

Many depth conversion methods are reliant on well velocities, either in the form of sonic, check shot or apparent interval velocities.  The Combinations tools, driven from the Wizard module, allow you to assess the stability of these methods with varying number of wells using a “leave P out, cross validation” scheme.  Such information can aid increasing confidence in your selected depth conversion techniques, or indicate where further analysis might be required.

There are also improvements to our Petrel link, whereby you can preview the layer definition associated with the wells graphically, prior to model building, to save time locating absent or erroneously picked formation tops.

If you have good quality log data but no background velocity model, and dynamic background velocity model can be constructed from the well logs by means of robust regression, mean or median fit for each layer.

If you are attending the conference and depth conversion, including the associated uncertainty, is of keen interest to you, then please contact us to schedule a demonstration our of depth conversion software, our seismic inversion software, or both, on sales@equipoisesoftware.com