Optimizing productivity and economic sustainability in conventional oil reservoirs: The impact of the HiWAY fracturing method

Abstract

The study technically and economically evaluated the application of HiWAY hydraulic fracturing in eight wells of the Shushufindi-Aguarico field, selected from a population of 18 wells stimulated using conventional fracturing and HiWAY, with the objective of determining its impact on the estimated final recovery and profitability indicators. The scope included a comparative analysis of production performance before and after stimulation. Oil and water production histories, petrophysical and PVT properties, operating parameters, and workover costs were examined; production was projected over 15 years using hyperbolic decline in pessimistic, most likely, and optimistic scenarios, and uncertainty was assessed with Monte Carlo simulation; in addition, net present value, internal rate of return, benefit-cost ratio, and payback period were calculated. The results showed increased recovery in six wells; In Shushufindi-155D, production increased from 557,530 to 1,533,580 barrels, and in several cases, production tripled or increased by up to 50%. In contrast, Shushufindi-98D experienced reduced recovery and a significant increase in water cut due to injector connectivity, while Shushufindi-74 showed economic deterioration. In successful cases, the internal rate of return exceeded 75%, and the net present value reached $36.28 million. It was concluded that HiWAY proved profitable in most wells, contingent upon adequate geological characterization, hydraulic connectivity, and proximity to the oil-water contact.