|[July 01, 2014]
PetroVR Version 11.2 Features Flexible and Accurate Well Modeling in Unconventional Assets
HOUSTON --(Business Wire)--
Systems announced PetroVR
Version 11.2, a mid-year software release featuring enhanced flexibility
and accuracy in unconventional asset planning simulations, with seven
(7) new capabilities and 47 enhancements.
"Modeling unconventional well performance using modified Arps equations
is enhanced by the addition of a highly flexible switch that enables
multi-segment modeling with time flexibility and variability around the
curve segments," said Ken Blott, chief strategist for Caesar Systems.
well decline curves typically have at least two phases, each one
described with a modified Arps curve having a different value. The
primary uncertaint is the time at which the value changes, which can
vary in unconventional assets by days or months, with significant
economic impact. To model this decline shift, well models in
unconventional assets can now be defined in PetroVR 11.2 with
well-specific decline switches for more reliable economic modeling.
Flexibility and accuracy for well modeling in unconventional assets:
Automatic decline switch in Well Decline Manipulation involving
New probability function for calculating InverseTriangular
Flexibility to compute drilling and completion costs as either CapEx
or OpEx, to prevent exploration and appraisal wells or dry holes from
being included among capital assets
Enhanced algorithm for calculating facilities along with wells now
reflects the impact of rig units being added and withdrawn
Shut-in excess policy has been extended to all wells upstream from the
facility, apart from those directly connected
Plan results for Total Oil Developed and Total Gas Developed
are now shown for the whole project including facilities and rigs,
which were previously shown at the reservoir level only
Display tables now can be defined by arrays as parameters, which
allows tables whose values change over time
For more information about PetroVR Version 11.2 and well modeling in
unconventional assets, visit http://www.caesarsystems.com/petrovr/whats-new-in-petrovr
or contact the company at +1 (281) 598-8800.
Petroleum Ventures and Risk (PetroVR) is simulation software for
decision assurance, designed by and for E&P professionals to reveal
uncertainty, pinpoint value and accelerate confidently to production.
Field proven for more than 15 years, PetroVR is the E&P industry
standard for integrated asset development planning, and the only
software platform designed to simulate an entire E&P network from
sub-surface to point of sale that includes probabilistic risk and
uncertainty modeling with full fiscal economics.
PetroVR is a Registered Trademark of Caesar Systems, LLC.
About Caesar Systems
Headquartered in Houston, Caesar Systems empowers E&P companies to
accelerate confidently to production through its PetroVR software suite,
backed by coaching support.
Caesar Systems is led by an experienced team of oil and gas and software
professionals at offices located in Houston, Texas; Buenos Aires,
Argentina; Paris, France; and London, United Kingdom.
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