During the last quarter of 2014, WTI crude oil price dropped precipitously from an average US$75 to a startling US$42. Production targets were difficult to achieve as the economic margin for well interventions narrowed. The revised objective was increasing oil production while minimizing investment cost and ensuring profitability of the well interventions. Identification of quick-win initiatives which required minimal investment to reactivate wells or increase their production included rig less interventions such as coiled tubing clean out campaigns and coiled tubing gas lift. Candidates which required heavy workovers were assessed through the RAPID process: R(eview) A(ssess) P(lan) I(mplement) D(iscuss). This process, though a part of our daily operations, was not aggressively implemented as oil prices further declined but was applied to the well review process to allow Petrotrin to be better prepared for more favourable oil prices. A revision to the economic feasibility of all well interventions was also re-evaluated to more lenient parameters. The estimated production from the quick-win initiatives was 500 bopd (unrisked) with a risked gain of (375bopd), whilst the estimated production increase from the application of the RAPID technique is expected the realize 1800 bopd (unrisked) with a risked production of 1080bopd. Well testing though significant, remained a challenge for proper evaluation of both the quick-wins and heavy workovers. In its absence Tubing Head Pressure (THP) and Line Pressure (LP) were monitored along with total transfer volumes at metering points to ensure expected gains were as was modelled. The economics of these projects were evaluated ensuring a Discounted Cash Flow Rate of Return (DCFROR) greater than 25%. Wells which did not meet the economic hurdle rate after the application of the RAPID technique were omitted pending more favourable oil prices, for cost optimization, Petrotrin proposes to implement the RAPID technique by project basis for operations such as fishing and well control for high pressure (HP) wells. Upon its approval, it would be included in the company's Standard Operating Procedure.

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