Palantircash is a traditional, clientserver application used for economic evaluation and the fiscal modelling of oil and gas assets. This chapter outlines the methods and processes used to evaluate the economic potential of an oil andor gas property. Phdwin is by far the easiest software for my team to learn. Evaluate the economic impact of process designs starting in the early conceptual phase. The tax model is used only if an aftertax analysis is done.
This increases the overall efficiency of the evaluation process. It is in daily use by over 4,000 economists and engineers in approximately 350 oil and gas companies across the world. The cash flow model is the most common model used to evaluate oil gas projects. Ayers petroleum provides all services and consultation for any or all phases of a project. Free, lowcost, and open access data and software for. With the company growing at a rate of over 50% per month and a free trial to subscriber conversion rate of over 60%, the product is quickly capturing market share. You explore the functionality of merak peep petroleum economic evaluation program and merak decline analysis software so you can navigate efficiently through the case document, edit existing data, and analyze economic runs. New oil and gas economic and decline curve software tool is. Accurate, secure, auditable generate results 510 times faster compared to legacy economic engines. Phdwin is the top choice among petroleum economics software because it is the only tool that provides truly integrated economics and decline curve analysis with robust forecasting and engineering tools. Optimize every element of your prospecting operations worldwide using our advanced oil and gas exploration softwarea suite of comprehensive digital solutions for each stage of a petroleum systems approach to discovering hydrocarbons.
New oil and gas economic and decline curve software tool is simplifying the evaluation proces august 17, 2015 drillnomics released its oil and gas economic evaluation and decline curve software to the public this quarter, and. Gpteco well economic evaluation software gptecosoftware is for the oilfield. Almost every decision is made on the basis of an economic evaluation. Complex royalty and tax calculations are made easy using palantirs flexible and powerful modelling capability. About us petroleum industry software about tcw software. Two reservoir engineers with over 10 years of industry experience are here to help.
Aspen economic evaluation asset optimization software. Outperform legacy systems with mosaic the next generation software for corporate reserves, petroleum economics, budgeting, capital planning, and decline analysis. Results 1 10 of 41 this category list of petroleum profile applications. Expanded basic petroleum economics training course. The aries petroleum economics and reserves software provides comprehensive enterprisewide property and data management, production and reserve forecasting using decline curves or other methods, and proven economic evaluations for operations, engineering, and business teams. Economic evaluation of petroleum projects basic aspects. Aug 17, 2015 drillnomics released its oil and gas economic evaluation and decline curve software to the public this quarter, and industry response has been overwhelmingly positive.
Ogre systems very capable and flexible petroleum economic evaluation software. Mosaics singlesystem solution delivers data insight with complete reserves management, petroleum economics, budgeting, capital planning, and decline analysis. Petroleum software reserve evaluation and economics. Aucerna petroleum economics is an enterprise level software and data solution for petroleum economic evaluation and fiscal modeling. Ogre systems offers flexible and easy to use petroleum economics and reserves software solutions. Download a free trial of phdwin phdwin economics and. Merak peep fundamentals and merak peep decline fundamentals combined course.
Normally, only very large acquisitions are evaluated by examining the impact of the acquisition on the financial net income. Fed up with the high cost of petroleum economics software. They implement and interpret discounted cash flow analysis allowing for key economic provisions commonly encountered in production sharing, taxroyalty and mixed fiscal systems. Economic evaluations are also performed to determine reserves and the standardized measure of value for reporting purposes for publicly held companies. New mexico gotech free decline curve analysis software and data drawing module for excel. Several key concepts that will be covered are the time value of money, cash flow basics, common economic indicators, fiscal systems and project selection fundamentals. Halliburton aries petroleum economic software vs jd edwards enterpriseone. Our products can be integrated as a total system solution or installed individually. This course is an excellent introduction to the fundamentals of petroleum economics. Users are able to easily generate multiple scenarios in order to properly evaluate and test a particular asset or. He has presented over 290 courses in 34 countries since 1989. In this discussion, the terms property and project are used interchangeably as the objects of evaluation. It is a scalable and complete reserves estimation and evaluation system with a unique autoforecasting algorithm and a powerful economics engine.
Modern petroleum economic evaluation software has eased laborious procedures tremendously. Planningspace software enables companies to execute a living business plan, providing instant data from all departments, spontaneous collaboration and feedback loops that minimize risk and exposure. V3 learn more introducing written by engineers for engineers phdwin coupled with phdrms offers the most complete solution for evaluating, managing, and. I can have someone that understands reserves an economics up and running on phdwin within an hour, unlike other products that takes months to establish a basic working efficiency. Val nav replaces a number of outdated point products to drive efficiency and productivity. Primarily utilizing aries, standard petroleum economic evaluations are performed quickly and with accuracy. Ogre systems offers flexible and easy to use petroleum economics and. Petroleum economics evaluation, project cost estimation. Mica the gold standard for petroleum economic evaluation software. Merak peep petroleum economic evaluation and decline analysis software is the industry standard for economic modeling of upstream oil and gas projects.
Building understanding through basin to reservoirscale modeling of petroleum systems. Estimate reserves for large numbers of wells quickly and. On the other hand, economic evaluations have uncertainties related to costs. Oil and gas production software petroleum industry. Schlumberger merak evaluation and economics software. A worked examples approach demystifies fiscal analysis which, unlike disciplines such as earth sciences and engineering, can be learned from a book. Introduction to probability distribution and petroleum project economics. Pdf software for the economic evaluation of oil and gas. Economic evaluation is an essential step for assessing and studying and selecting new petroleum projects which involve different activities. Economists can perform reliable, repeatable analysis using the palantir regime library.
His focus has been in feasibility analysis, appraisals, corporate planning, and evaluation software. In many countries psas play a critical role in the exploration and production of oil and natural gas. Our economics and planning suite plays a significant role in completing the technical insights of geoscientists and engineers with the business analysis and. Mica offers easeofuse, flexibility, compatibility, and the power of software costing many times more. Production and evaluation software for management and economic analysis of producing assets. Request more info our economics and planning suite plays a significant role in completing the technical insights of geoscientists and engineers with the business analysis and processes needed to support decisions through an assets lifecycle. Economics drives the entire oilgas producing industry. However, uncertainty and risk analysis are becoming more popular as new hardware and software advances. Easily view the economic impact associated with a change in economic parameters. Ihs powertools is an intuitive software program that allows oil and gas professionals to quicky and easily estimate reserves and perform economic evaluations. A psa largely defines the economic relationship between the government of a host country and an operating company engaged in a petroleum exploration and production project. Customer logins obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise.
Accurate, secure, auditable generate results 510 times faster. Phdwin economics and reserves software by trc consultants. Uncertainty and risk analysis in petroleum exploration and production saul b. Nash, phdaapg director of education and professional development, tulsa, ok bryan flynngeophysicisthgs continuing education committee, houston thom tucker, cpghgs continuing education committee, houston imagine a geologist, an engineer, and a landman. This course will introduce a variety of fundamental petroleum economic principles including revenue, expenditures, fiscal systems, risk analysis, and investment analysis. Tcws prodeval software is a quick and comprehensive economic evaluation system for both reserve reporting and prospect analysis. Try it free today learn more about oil and gas software. Val nav is a fully integrated decline curve analysis, petroleum economics and reserves management software. Prodeval has a very easy to use and straight forward approach to economic analysis and this methodology serves the user well. Evaluate reserve, income, net present value and undeveloped potential. Upstream petroleum fiscal and valuation modeling in excel. Twelve software vendors, a veritable whos who of the commercial programs available today, each ran 30 different test cases designed to test various aspects of the economic calculation. Other personnel, including nontechnical, that need to improve their understanding of risk analysis, prospect evaluation and petroleum economics.
Petroleum economics aucerna petroleum economics is an enterprise level software and data solution for petroleum economic evaluation and fiscal modeling. Introduction to probability distribution and petroleum. New oil and gas economic and decline curve software tool. We pride ourselves in efficient database structuring and management, as well as straightforward descriptions of complex scenario analyses.
Mica offers easeofuse, flexibility, compatibility, and the power of software costing many times. Derived from spee 2018 petroleum evaluation software symposium. The most valuable attributes of petroleum economic software are the scheduling tools and the summarization capabilities. Petroleum economics planning, execution, and reserves. The applicability of various probability distributions to the petroleum project development cost analysis is discussed. Written in plain english for laymen and for experienced practitioners alike, it is a readerfriendly, clear, practical, stepbystep hands. Business planning and petroleum economics software designed for upstream. Its the only software that can be used out of the box.
This course is designed for learning the basics of petroleum economics and project selection. Previously, he worked as an independent petroleum economist engaging in all aspects of petroleum economics including commercial evaluations. Economic evaluation of petroleum projects basic aspects dr. Economic evaluation software built from the ground up as a single solution to fully manage prms as well as budgeting, capital management and multiple alternative scenarios and. The society of petroleum evaluation engineers spee undertook a project to try to isolate the causes of differences in reported results. Economic model for oil and gas property evaluation. Val nav by aucerna planning, execution, and reserves. Kent saugier is a handson scientific, technology and business professional with twentyfive years experience in upstream oil and gas, offshore technology, economics, economic modeling, international petroleum contracts, project management, software applications and technology including design, licensing and commercialization. Uncertainty and risk analysis in petroleum exploration and. International petroleum economics evaluation software. The results and the quality of the economic analysis depends on the quality of the cashflow elements if the discount rate reflects the best alternative value of the money then npv is the best suited decision criteria, and positive npv means that the project is profitable. Risk analysis, prospect evaluation and exploration economics. Forecasts are often done on a wellbywell basis, and sensitivity studies are much easier. Economic evaluation software built from the ground up as a single solution to fully manage prms as well as budgeting, capital management and multiple.
An introduction to basic risk analysis will also be presented. From field operations and process safety to contractor site inspections and managing downstream operations, intelex has a complete set of software tools to meet the unique needs of the oil and gas industry. Aspen process economic analyzer allows users to map, size, and estimate costs for equipment directly from process simulators. Directly link to other powerful ihs markit applications and content. Apply to petroleum engineer, economist, intern and more. Cloudbased visuals dispatch and billing system for.
Derived from spee 2018 petroleum evaluation software symposium survey data. This site contains tools for evaluating the economic attractiveness of upstream petroleum projects petroleum exploration, development and production. List of petroleum profile applications petromehras. With aucerna, companies can perform reliable and repeatable analysis based on your proprietary models or aucerna regimes, aucernas world class, global fiscal regime library.
Manage type wells, project plans, and economic scenarios from one database. Economic evaluation including net present value, internal rate of return, and risk introduction to the key accounting financial statements and terms the need for competitive advantage and how it is measured how to develop spreadsheets to conduct economic evaluations introduction to petroleum business ipb basic 3day. Investment decisions should never be hindered by slow economic evaluations or delayed information aggregation. The last section of the chapter presents a petroleum economic evaluation example which presents a complete risk analysis leading to net present values npvs of the example project. Free, lowcost, and open access data and software for petroleum exploration and production susan s. Reliable forecasting, economic optimization, insightful visual analytics and more. Ogre systems provides reserves and economic software solutions for asset. A comparative analysis of 12 economic software programs. Powertools is an intuitive, windows based software program providing reservoir and oil and gas economic analysis in minutes. Aries petroleum economics software landmark solutions. We take a holistic approach to asset development and scheduling including all departments such as land, regulatory, drilling and completions, midstream, and finance. Petroleum economics software and services schlumberger software.
The presentation here is brief, providing the participant only with the basics that. For example the projecting of future production using sophisticated. Planningspace is a truly integrated planning platform that handles all planning needs, from well level to the corporate portfolio. Software for the economic evaluation of oil and gas development options. These include competent persons reports cprs for stock market listings, reserve audits and data room evaluations for asset acquisitions, and fiscal design and market studies for government organisations.
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