Holistic producing-well improvement reduces failures/ servicing costs ///
Bottom line. Schlumberger IPM used the Producing Well Improvement Process (PWIP) in a Permian basin project with 900 active producers near Pennwell, Texas. Excessive well failures result in lost production, elevate lifting costs and can lead to premature abandonment. Through using PWIP since 1991, well-failure frequency has been reduced by a factor of about10, from 2.5 to 0.27 failures per well per year. Well-servicing costs have been reduced from $700M to $270M, a threefold improvement.
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