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What’s New in PetroVR 11.2

7 New Capabilities For Flexible and Accurate Well Modeling in Unconventional Assets

Challenges and Change in the E&P Business

Challenges in the appraisal and modeling of unconventional resources have changed a great deal in the business of hydrocarbon exploration and development. These challenges are met and converted into powerful new capabilities in PetroVR 11.2.

Unconventional well decline curves typically have two or more decline phases, each one described with a modified Arps curve having a different b value. The primary uncertainty is the time at which the b value changes, which in unconventional assets can vary from days to months, with significant economic impact!

Well-Level Conditions in Well Decline Manipulation Jobs

To model this decline shift, a well-specific decline switch can be modeled now in PetroVR 11.2.

Instead of switching all the wells included in a Decline Manipulation job as soon as the job starts, a modeler can specify a condition that will trigger the switching of each unconventional well decline curve separately.

This new option gives greater control on performance changes, allowing you to model “multiple segment” well performance variations, which is particularly useful in unconventional projects utilizing Arps equation to switch from say an hyperbolic decline to an exponential decline. The switching and associated timing of this point is often critical to planning of drilling schedules (speed) as well as facility capacity planning.

In this example, the first decline switch occurs after two years of production, and then a second decline switch occurs two years later

In this unconventional well decline curve example, the first decline switch occurs after two years of production, and then a second decline switch occurs two years later

For more insight into modeling multiple wells, read the website Solution, Evaluating unconventional projects with 1000s of wells.  

Rig Count Now Impacts Facility Cloning

The pace of facility cloning in autodevelopment and cloning jobs can now better account for mobilization and demobilization of rigs, providing more representative simulations of the actual needs of the field. This reduces simulation time and enhances the new multi-well functionality introduced in version 11.1.

Read more about Multi-Well functionality in Ver. 11.1 here 

Enhanced Shut-In Policy

The application of the sequential shut-in excess policy has been extended to all wells upstream from the facility, apart from those directly connected to it.

Enhanced Algorithm for Cloning Facilities

The algorithm for calculating the pace of cloning facilities along with wells now reflects the impact of rig units being added and withdrawn during the autodevelopment or cloning job, so that the cloning of facilities meets the requirements of the field more exactly. Similarly, the timing of facility clones associated to multi-wells is now more accurate. Other enhancements to the algorithm have significantly improved the calculation speed in specific cases.

Arrays as Parameters in interpolate2D Functions

The interpolate2D function, which allows to use a table as a two-entry matrix, now accepts arrays as parameters for defining columns and rows. This feature allows to configure tables whose value change over time.

Price per acre for a given water depth, with price modified yearly by selecting an array for the  parameter.

Price per acre for a given water depth, with price modified yearly by selecting an array for the parameter.

InverseTriangular Distribution Function

A new function for calculating inverse triangular distributions has been added to the set of probability functions of PetroVR. With this addition, all the main distribution types are available inside an FML expression.

Set Drilling and Completion Costs as OpEx

Well drilling and completion costs can now be computed as either CapEx or OpEx. This makes it possible to prevent some well types such as exploration and appraisal wells or dry holes from being included among capital assets.

Now, drilling time and cost can be assigned to either CapEx or OpEx, to prevent some well types being categorized as capital assets

Now, drilling time and cost can be assigned to either CapEx or OpEx, to prevent some well types being categorized as capital assets

New PetroVR Plan Results

Total Oil Developed and Total Gas Developed, which in previous versions were available at the reservoir level only, are now also issued for the whole project. These variables return the cumulative expected production of all wells completed so far at a given point of the project lifecycle.

Summary: PetroVR 11.2 features more control modeling unconventional well decline curves with “multiple decline switches.”

Other improvements on existing features: 47

Functional Test Cases: 392 new tests. Total: 31,706

Unit Tests: 142 new tests. Total: 10,478

Statistics on Ver. 11.2
New major capabilities:  7
Enhancements:  47

Discrete new unit tests:  142
New functional test cases:   392

Total unit tests: 10,478
Total functional test cases: 31,706

Client user requests
More than 44 separate client requests contributed to 25 of 29 new major capabilities contained in two version 11 releases.