Please join us for our upcoming SPE Hydraulic Fracturing Technical Section April 2025 Webinar!
HyFTS Monthly Webinar (April 8th, 2025, 12:00 PM – 1:15 PM CST)
Register here: https://lnkd.in/gGQ_5yFb
Speaker: Dr. Mark Pearson, Liberty Resources LLC
Title: “Slicing the Onion” of Multi-Variate
Unconventional Stimulation Optimization
(based on SPE-223553-MS)
Abstract:
A genetic-algorithm multi-variate optimization procedure was used on a Liberty Resources’ history-matched Bakken dataset. The first generation of optimization uses a space-filling design, sampling all regions of the completion design parameter space (where each completion/stimulation design variable is a parameter). Subsequent generations are used to goal-seek the optimal objective value based on the results of the prior generation with the overall result of generating a cloud or “onion” of optimization points as a function of the economic parameter being considered.
This presentation shows the optimized results as a “rainbow” of sliced datasets which immediately allows the completions engineer to visualize the dependence of the multivariate optimization on individual components in the completion design.
Bio: Dr. Mark Pearson is President & CEO of Liberty Resources LLC, a Denver-based operator in North Dakota for the past 15-years. He has over 40 years of experience and has authored over fifty technical papers and six patents covering field development, “fracking”, and oil and gas operations. He graduated with BS and PhD degrees from the Camborne School of Mines, University of Exeter, UK, is a graduate of the Harvard Business School Advanced Management Program, and is a former professor in the Petroleum Engineering department at Colorado School of Mines. He is an SPE Distinguished Member who in 2018 received the SPE International Completion Optimization & Technology Award.
Thank you to e-Frac® for sponsoring!