Abstract
Matrix acidizing is a well-stimulation that has evolved and is still used to increase productivity when the productivity index drastically decreases and the production rate declines. A candidate well-stimulation selection method and software are suggested in this work. The process is based on technical, workover complexity, production decline curve analysis (for future forecasting), and economics since candidate selection must be rigorous. Production data from four onshore Niger Delta stimulation candidate wells were used to validate the software developed. R-factor, productivity index, and flow efficiency were the technical parameters used, and eleven (11) indicators were used for workover complexity evaluation. The future forecast was done using the production decline curve analysis and different economic indicators such as the Internal Rate of Return (IRR), the Net present value (NPV), and the Payback time. Profitability Index (PI) was used for analysis and make decisions. All wells analyzed in this study met the technical parameter criteria, making each well a potential candidate; hence, further studies can be conducted. From further reviews based on the author selection criteria carried out with regard to production trend (decline curve analysis) and economics, it was seen that WELL XX-01 was ranked first due to its shortest payback time of 2.0899 months and highest NPV of $23,636,983, WELL XX-03 was ranked next, having a payback of 2.2472 months and an NPV of $9,627,221, WELL XX-02 was ranked following having NPV of $7,260,917 and a payback of 2.2560 months and lastly, WELL XX-04 having a payback time of 2.3615 months and NPV of $6,777,548.
