Last month we hosted our annual ResFrac Symposium – our annual event for ResFrac customers. In keeping with the times, the event took place over Zoom instead of in-person. Despite the remote format, the meeting was a resounding success. In the words of one participant:
“I was blown away by the quality of the presentations, thank you so much for facilitating such a great online info sharing event!”
On a scale of 1 to 10, participants ranked the value of the Symposium 9.2!
What made the day valuable and what did we learn? There were 76 participants from 26 different companies. Presentations were given by engineers from seven operators. There were two panel discussions, with a mix of experts from operators, service companies, academia, and the investor community. A common theme was that companies are bringing an extraordinary quality of diagnostics into the history matching workflows. For example, in the last year, offset fiber optic has become increasingly popular because of the detail it provides on fracture geometries, propagation rates, closure times, and more. These observations are used by operators to calibrate their ResFrac models. In one presentation, Apache showed how they had postprocessed ResFrac outputs to simulate the waterfall plot generated by fiber. Watch for Apache’s 2021 HFTC paper on the topic in February!
Missed the user meeting? Stay tuned for next year – we have a lot coming down the pike.
Below is a recording of Mark’s introductory remarks. He reiterated ResFrac’s raison d’etre, reviewed new developments over the past year, covered a few technical highlights, and laid out plans for next year.