Wells

The Wells Insight report was published in 2018 followed by The Wells Strategy and Well Activity Performance stewardship expectation, both in July 2019​

Revealing the following:​

Well activity in decline:​

  • Development drilling down 50%​​
  • 30% of active wells shut-in​​
  • Intervention rates at 14% are too low​​
  • Surveillance rates at 8% are too low​

15% of well cost relate to Non-Productive Time​​

Open water suspended wells​​

  • 240 E&A wells​
  • average age of 27 years​
  • abandonment cost increased by a factor​

50% of Decommissioning cost associated with wells​

A substantial percentage of development activity associated with wells.

This generated the requirement to form the WTF to address these issues​