Baker Hughes releases DeclineShift™
Baker Hughes announced the commercial release of its DeclineShift™ mature asset solution, which helps operators maximize capital efficiency and extend profitable production from their older oil and gas investments. The DeclineShift solution boosts recovery and lowers operating costs rapidly and efficiently through a combination of detailed analysis of the asset and fit-for-purpose technology applications.
“As wells and fields age, operating costs tend to rise as production declines. Operators have generally tried to meet this challenge by lowering cost per barrel, either by cutting costs or trying to improve production,” said Hans-Christian Freitag, Vice President, Integrated Technology at Baker Hughes. “Unfortunately, the positive effects of these tactics are usually short-lived. The DeclineShift solution offers a more strategic approach – one focused on maximizing capital efficiency.”
The foundation of the DeclineShift solution includes a close examination of the areas that can have the greatest positive impact on the asset’s overall economics, whether individually or collectively. The process focuses on three primary areas to increase the value of an asset: optimizing hydrocarbon flow from existing wells, maximizing production revenues and increasing economically recoverable resources.