The application of multi-stage fractured horizontal well (MSFHW) due to its costly operation necessitates optimization of associated fracture parameters to ensure its economic success. In comparison to significant number of studies dedicated to use of MSFHWs for shale gas reservoirs, there are only few researches available for oil systems. This study explores the optimum criteria for a number of important fracture parameters in low-permeability heavy-oil systems. For this purpose, a response surface methodology (RSM) was employed to examine the simultaneous effect of four fracture parameters, including the number of fracture stages, fracture length, fracture width and fracture conductivity, on well productivity. The evaluations were conducted on two homogeneous and heterogeneous permeability systems. The optimization of fracture parameters was also performed on an economic basis by utilizing the net present value (NPV) concept. Useful charts were also generated providing practical insights into the individual and combinational effects of fracture parameters on well performance. The results from this study demonstrated that the fracture conductivity and the number of fracture stages were, respectively, the first two important parameters controlling the well productivity for rock systems with higher permeability. However, when rock texture became tighter, the number, and to a lesser extent the length, of fractures exhibited more evident role on production improvement, especially in the case of heterogeneous reservoirs. The results also underlined the significance of economic considerations, in particular, when determining the optimum fracture length and number of fracture stages.

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