Solution - Well Management Economics
PetranomicsTM Well Manager
Operationally managing and reservoir engineering an oil and gas well or field requires continuous economic analysis, planning, execution action and then replanning.
Create an economic well and field plan
Whether you are faced with the critical decisions and replanning of a well workover or how to best manage investments, rising costs and varying volumes, you have to make confident decisions to ensure the success of your E&P project. Petranomics Well Manager enables you to create a robust economic plan for your wells and field. As a result, you can:
- Create Economic Plans
- Create a base plan with a range of outcomes for your wells and fields
- Create and compare upside, downside and what-if scenarios
- Compare actual outcomes to planned results
- Create forecast using assumptions from trusted sources such as well data, historical data, expert knowledge or reservoir modeling software, for instance, Resolve from Object Reservoir
- Stay economically smart and on target with decisions and investments
- Find Economic Answers
- Does the workover expense make economic sense given the uncertainties and risk?
- How do my multiple upside and downside scenarios compare and impact my current decisions?
- How does potential variation in decline curves impact economic viability?
- Should I fracture, wait, shut it down, or sell?
- How will plug and abandonment expenses impact my alternatives?
- How to my forecast match to actuals and historical comparable wells?
- Manage Economic Analysis Complexity
- Economically evaluate and respond to opportunities, events or changes as they unfold
- Compare projected volume decline curves to comparable historical wells and to well actuals for reporting and forward forecasting
- Analyze multi-level production, fractures, economic end of life
- Compare expected volume changes from fractures to forecasted volume decline curves and as an uncertainty range input to the economic analysis
- Incorporate data from your existing wells or companies like Drilling Info to compare historical outcomes versus forecasted values
Make confident decisions to ensure success as opportunities, events and issues unfold
The Petranomics Well Manager can help you chose the best course of action by comparing alternative scenarios for short- and long-term cash flow. You can then act quickly to minimize economic impact or other risks, all while continuing to explore and refine new scenarios and update your plan.
With the Scenario Manager users can create scenarios with ease, compare them to the base case and each other. The dynamic sensitivity analysis manipulates those scenarios as you explore what-if or create upside and downside cases. This process allows you to calibrate your multiple projections and adjust according to the differences and risks.