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Let Spider Plots Untangle Your project Uncertainty
And it only takes minutes!
Spider Plot Data Table
| Initial Rate bpd |
IRR |
Max Cash Out
$MM |
NPV
0
$MM |
NPV
10
$MM |
Total
Oil
MMstb |
| 500 |
0.06 |
-2002.9 |
296.9 |
-54.7 |
27.24 |
| 1000 |
0.107 |
-1090.5 |
448.3 |
95.6 |
52.48 |
| 1500 |
0.147 |
-817.1 |
671.5 |
641.8 |
74.84 |
| 2000 |
0.177 |
-682.5 |
706.8 |
981.2 |
88.67 |
You use Spider Plots when you want to see the effect of changing
an input value. That ability is useful in a variety of situations.
PetroVR makes it easy to generate the plots. You simply select the
input variable you want to vary, define the input range and press
a button to calculate the results.
When you are done, you can store the Spider Plots in PetroVR and
view them at any time, or you can cut and paste plots and data tables
to Word or Excel.
Let’s give you an example:
What Test Rate is Needed for Success?
Those of you involved in exploration evaluations have surely been
asked: "We are ready to test the first exploration well, what
is the criteria for it to be successful?" There may be several
factors, but one of the most important is probably the production
rate.
If you already build your project model in PetroVR, you can answer
the question in minutes.
Above , we have created a spider plot and tables, where we varied
the initial well rate. You see that the Net Present Value at a 10%
discount factor (NPV 10) is negative at an initial rate of 500 bpd
but positive at 1000 bpd.
If we assume that your company requires a Return on Investment
(IRR) of at least 10% you have shown that your wells must produce
at least 1000 bpd for the project to be economic.
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