How pForecast handles the effect of rig availability and non-drilling plans on drilling schedules
Drilling schedule is a feature in pForecast that allows the end user to input detailed information about drilling plans to express how delays might affect future production. This article gives details on how end users of pForecast can consider the impact of rig availability and influence the scheduled time when there is no drilling activity. […]
Incremental Profiles Analysis in pForecast
Several factors, such as introducing new fields, new wells, or performing facility upgrades and maintenance, affect the production of already producing fields. This is mostly because of flow and processing capacity constraints and pressure effects in the flowlines. To support project investment decisions, incremental profile analyses can be performed to quantify the net production of […]
pForecast provides a comprehensive data package for production profiles
pForecast performs both deterministic and stochastic analyses and generates unbiased production forecasts. The presented article provides a brief overview of the powerful reporting functionality in pForecast. In pForecast, the user can choose between yearly or monthly plot granularity. It is also possible to present both stream day rates, assuming 100 percent uptime, and calendar day […]
Considering uncertainties as an integral part of production forecasting
Oil price volatility over the past few years has made oil and gas companies more short-term focused than ever. This approach has arisen the necessity for a method that considers all the uncertainties involved in production forecasting both for long and short-term forecasting. It is also a common fallacy that forecasting is a subsurface-centric task. […]