WPX Energy Selects SIGMA³ in the Bakken

Reservoir Modeling Workflows Yield Better Understanding of Horizontal Well Performance

SEG, Denver, October 26, 2014 – Sigma Cubed Inc. (SIGMA³) was selected by WPX Energy to deliver an integrated 3D reservoir model of the Bakken reservoir which identified sweet spots and predicted performance of blind wells. Using 3D surface seismic and well data, SIGMA³ created a Shale Capacity™ model using key reservoir properties, including natural fractures, brittleness, Total Organic Content, and porosity, that has demonstrated the value of 3D surface seismic data in capturing the reservoir heterogeneity that may be driving the variable well performance seen in the Bakken. The announcement was made during the SEG International Exposition and 84th Annual Meeting.

"We appreciate the value that SIGMA³ brings to our team," said Lee Steinke, Geology Manager at WPX. "After several collaborative iterations with SIGMA³ to customize the Shale Capacity model to our area, we were able to validate the results of the model against known production in other wells on the 3D. We now have a better understanding of the distribution and variability of what may be the primary geologic parameters influencing production in the area. The innovative technology and workflow from SIGMA³ helped us to extract more value from our 3D surface seismic. As a result, we have expanded our investment to include a larger area."

Using its 3D modeling software, CRYSTAL™, as a platform, SIGMA³ delivered an integrated reservoir characterization workflow tailored for shale plays and validated by production data. Seismically driven fractured reservoir characterization is now able to significantly increase the understanding as to why some wells are outperforming others in a limited areal extend.

"WPX has a keen understanding of the relevance of multi-disciplinary collaboration and integration and is making great strides in unconventional reservoir development," said Jorge Machnizh, CEO of SIGMA³. "We are pleased that our solutions have provided additional clarity to their efforts and look forward to delivering additional Shale Capacity models as part of WPX's next Bakken phase."

This project will be discussed in SIGMA³ Booth #308 on Monday & Tuesday at 4:30, and Wednesday at 12:20.


About SIGMA³
Sigma Cubed Inc. (SIGMA³) addresses the demands of the next generation of conventional and unconventional resources producers through the development and delivery of unprecedented GeoEngineering™ integration, resulting in better subsurface reservoir characterization targets and optimal frac and completion strategies. Operators can significantly increase production while reducing costs by fracturing the reservoir where it is most productive, and validating their results using the industry's most reliable microseismic acquisition, event detection and location accuracy algorithms. Through a truly integrated, commercial portfolio of proprietary software, expertise and services, SIGMA³ helps clients target the sweet spots that will yield maximum EUR.


Media Contact:
Kathy Ashmore
k.ashmore@sigmacubed.com
+1 281 363 8566