This two-day class covers the more practical side of how to use PHDWin to conduct reliable engineering analyses, quality control, publish results and update in the future. Rather than focus on features of the software, it addresses the stepwise use of the software to create useful results. While the course addresses some advanced features of PHDWin, it requires a functional knowledge of the software.
- Reservoir engineers (especially those with less than 10 years’ experience)
- Technical assistants
- Reserve managers
The course walks students through how to publish a reserve report with appropriate engineering methods in PHDWin. It teaches advanced features of PHDWin as they are used in the process of creating, checking, publishing and updating a cash flow analysis or reserve report. It focuses on best practices for the execution of decline curve analysis and of quality-control, topics which are commonly misunderstood or ignored. In the process it also explains the significance, source and smell-tests for the roughly two dozen inputs required for a cash flow analysis. It requires someone be able to use basic PHDWin features like changing the appearance of graphs and global editor, though someone could probably learn these easily on the fly in the class.
Overview of reserve estimates by production performance
Decline curve analysis is NOT a simply empirical exercise in fitting a curve to noisy data, and the method of deployment can reveal or obscure insight to the reservoir. The course addresses underlying theory briefly, optimal graphing techniques, and various and essential methods (besides just rate-time Arps).
From defining scope, to creating and using graph templates, to analog review and forecasting, to LOS analysis to QC and publication, the course shows the what, how and why of creating the cash flow analysis.
Using effective graphs of various kinds and comparison to analogies, the course shows how to milk the most meaning from the historical data and how to have more confidence in forecasts.
Volume forecasts are only one of the three parts of a cash flow analysis. The course will also explain and demonstrate the process of analyzing Lease Operating Statements to obtain the inputs utilized by PHDWin. The course covers getting the data into PHDWin and checking it.
Most people assume that once they have entered the data, that they are ready to publish results. Inconsistencies and errors easily sneak into such database-driven work, and results should not be published without quality-control procedures.
By practice, the course teaches the basic steps on what and how to publish results for users of the cash flow analysis.
Feedback on predictions
An essential element of learning is to compare predictions against actual results. The course allows students the opportunity to update production and compare their forecasts to subsequent actual production.
Recognizing reservoir dynamics for better predictions
Through the analysis and discussion of examples, students will learn to recognize common reservoir dynamics and how they play out in predictions of future production which often aren’t linear.
Specific features of PHDWin treated:
- Graphs: formatting, setting defaults, global edits, titles
- Products: defining and applying custom products
- Sort orders: creating templates and transferring between projects
- Batch printing: creating templates and transferring between projects
- Custom ID codes: Workstamp and other custom ID codes
- Memos & Notes: keeping track of notes and forecasts and historical operations
- Partnerships: setting up and using
- Models: creating and re-using models for prices and expenses
- Importing: using custom load features for LOS and production data
- Archives: archiving and updating forecasts
Upcoming course dates:
Houston – Last Chance!
November 7 – 8
I found...walking through common problems that everyone had useful.
...It was nice to have an affirmation of what I was doing in PHDWin or evaluations in general was correct.
I can't stress how useful and meaningful it was to me to have someone with PHDWin, reservoir, and consulting experience to share real life examples.