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Increasing operational efficiency of oil-producing companies by analyzing the cost-effectiveness of producing wells

Improving the operational efficiency of developing fields in the late stages of operation is one of the priority tasks of oil producing organizations. Optimization of field development is achieved, as one of the ways, by stopping of uneconomic production. The article discusses methods for assessing the well efficiency and achieving break-even for the uneconomic well stock through determining targets and applying an algorithm for making further decisions on uneconomic well stock. The resulting tool will improve the efficiency of field operations and get an additional economic effect from the optimization of the well stock.