Our optimisation and analysis software uses a proprietary genetic algorithm to generate schedules maximising value, production or the addition of proved reserves. In addition, our tools enable operators to catalogue schedules and quantify the business impact of their decisions.
Major EP companies need to create and maintain a drilling schedule for a large number of drill strings. The objective is to maximise value, production or reserves from limited resources of cash and rigs/crews. The task is complicated by the following factors:
For any significant activity levels, it is impossible to optimise this manually or by inspection. The Dundas tools contain a powerful proprietary optimisation algorithm developed to handle the complex scheduling problem faced in the operation of regional development programmes. The tool may be used to automatically optimise drilling schedules:
The optimiser objective function can be either:
The Dundas schedule optimiser will complement existing schedule planning processes, and currently has the following functionality:
Our tools enable compliance with all of your business constraints, e.g.:
Optimisation of the scheduling of drilling activities can liberate significant value. For example: accelerating a $100m project by four months at the expense of two $25m projects would yield an NPV gain of $1.2m; avoiding a single day of rig idle-time could save, for example, $400,000. A single improvement in scheduling decisions delivers payback on an optimisation project.