Petrolern Llc Receives $1.15 Mm Doe Grant To Develop Advanced Technology For Characterization Of Subsurface In-Situ Stresses Without Well Logs

Petrolern LLC has been awarded a $1.15 million grant from the United States Department of Energy (DOE) to further develop and commercialize its state-of-the-art artificial intelligence-based technology for estimation of earth stresses without requirement for costly well logging. Failure to construct reasonably accurate in-situ stress models costs the industry billions of dollars annually due to wellbores failure, poor performance of reservoirs, induced seismicity, cap-rock integrity issues, inability to monitor fluid movement as well as inappropriate well placement and completion design. A good understanding of the stress field can lead to substantial improvement in subsurface operations such as drilling, completions, fracturing, production, EOR and CO2 sequestration. However, the required wireline logs for stress estimations are very costly to acquire, typically only available in pay zones (not the overburden), and mostly not available in horizontal wells.