pForecast
Smooth and efficient updates
of forecasts
What is pForecast?
Cloud-based statistical analysis software to digitalize, simplify, and standardize how production forecasts are generated and utilized
pForecast uses input data from subsurface tools, such as Eclipse, Network models and ResX, and performs a full life-time simulation of the production and injection forecast. With pForecast users can assign uncertainties to input data and do stochastic analyses by running Monte Carlo simulations.
Generalized production forecasting workflow
The foundation for business optimization in Exploration & Production companies
Subsurface data take in well potentials and how much each well can deliver
Drilling data consists of drilling schedules and rig availability
Facility operations comprise production efficiencies, planned shut-ins and capacity constraints
Since pForecast is uncertainty-centric, uncertainty can be assigned to input data
With pForecast you can run both deterministic and stochastic analysis
DO YOU WANT TO KNOW MORE?
REQUEST A DEMO
Why pForecast?
With pForecast, your organization will substantially save time and effort.
Forecast of existing wells and future drilling takes production efficiency
and capacity limitations into consideration in the simulation scenario.
Smooth and efficient updates
With pForecast, your organization will save substantial time and effort, and it is easy to establish updated production forecast when assumptions change.
Uncertainty as an integral part of the prognosis work
pForecast quantifies the uncertainties by using Monte Carlo simulations which allow forecasts with low, expected and high values to be created.
For more information on uncertainties, read our latest article:
Simplified reporting
Supports export to the company’s desired formats, including Petroleum Resources Management System (PRMS) and Norwegian Petroleum Directorate (NPD) standards.
Improved consistency
Based on cloud technology with user-friendly interface pForecast offers a uniform method for the company’s forecasting as a result of a common analysis framework across assets.
Effortless planning
It is easier to evaluate different planning scenarios using pForecast than with reservoir simulations alone. In pForecast, the switch from deterministic analysis to stochastic analysis is automatic!
A great advantage is that when last-minute changes occur, neither additional nor manual adjustments are needed. In pForecast a heavy analysis from a reservoir simulation tool can be reused in a fraction of the time it would take to rerun the reservoir analysis itself.
Mapping uncertainties in drilling schedules
For Exploration and Production companies it is important to take into account the uncertainties related to drilling. To meet this need, pForecast considers uncertainties involved in drilling schedules and rig availability.
pForecast can automatically generate Gantt Charts for drilling schedules and show how uncertainty is propagating over drilling targets.
What our customers are saying
Forecasting and reporting of future production and injection
«Risk evaluation of production prognoses are commonly used within the oil and gas sector. What is unique with the Powersim Studio solution, is that uncertainties are considered an integral part of the prognosis work, not an activity applied after the base prognosis is established.»
Frank Fosse,
Senior Advisor, Equinor
Major Oil Companies Trust pForecast
pForecast News
We would like to thank OTD Energy and Norwegian Oil & Gas for a fantastic fair.
Powersim Software had this opportunity to present pForecast alongside Aker BP. Together we gave a brief overview of The First Steps towards Automated Production Forecasts.
Job opening Lead front-end developer
Would you like to be part of the technological transfer from oil and gas to more sustainable industries?
We will be posting new positions over the next few months.
Supersprint 6 together with Aker BP
The pForecast team has finalized the second phase of the 6th Supersprint (SS#6) along with Aker BP. Phase 2 of SS#6 includes cutting-edge improvements for the end user, such as the possibility to limit production based on lack of injection.