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What’s new in PetroVR 12.1

Multi-core computing accelerates simulations, with enhanced audit tracking confidence

33 major new capabilities, along with 777 improvements to existing capabilities

For more insight, view the PetroVR 12.1 Video

Acceleration

Enhancing the speed from questions to results

Multi-Core Support
PetroVR 12.1 accelerates faster with multi-processing speed from each additional CPU core your machine has available. Monte Carlo and Scenarios iterations are distributed among the available physical cores of a multi-core computer, thus making the operation lightning fast, proportional to the effective multi-core power available.

Select All Uncertainties in Monte Carlo
To make quicker work of Monte Carlo runs, an option has been added to enable selecting all probability distributions presented in the Monte Carlo Control Window to include/exclude them in the next Monte Carlo run.

Auditability

Preserving the inspection of assumptions for validation

Model Signatures

digital signature audit trackingFrom now on, PetroVR models are marked by an automatic digital signature that identifies, unequivocally, both the project and all of its versions. This new capability enables asset teams to collaborate more efficiently — with each other and among critical company functional groups — such as Management, Finance, Accounting and Audit.

select all uncertainties in monte carlo

PetroVR auditability is now more robust than ever. PetroVR can be instructed to check that a file received or sent is included in a list of digitally signed models. When a PetroVR model is copied or renamed, the signature is preserved, and can always be tracked. Model signatures will appear also in any graph you export and in Excel Reports.

This new capability completes the solid support for auditability that PetroVR offers, together with the Changes and Validation Systems.

Enhanced Timestamp

enhanced timestamp

A second auditability enhancement: The timestamp used for recording changes made to a model is now saved in change sets using the ISO 8601 international standard, while the change browsers display it using your Windows regional settings and local time. This makes it possible to work concurrently on the same project from different time zones preserving the correct chronology of the changes.

User-Defined Range Validation

user defined range validation

User-defined limits can be set for the value of any input variable in a PetroVR model, to provide an extra local validation. Values entered in further modifications to the model (or indirectly, such as the result of a function or from an external source) are validated. When a value is entered that falls outside the user-defined range, a validation warning is issued.

Easy to use

Intuitive interface aligned with workflows

Drilling Sites in Facilities
Well drilling sites can now be easily associated to a facility. This makes it possible to set a limit on the number of wells that can be drilled concurrently at the same pad, which meets the needs of a great many PetroVR clients modeling multi-well pad developments in unconventional projects.

Wells Connected
A new runtime variable, “Wells Connected,” returns the number of wells connected to a facility at the current simulation step. This is another capability added for robust support on multiple well pads in unconventional projects. In one example, a variable in the Facility Downtime input is used to keep the Facility closed until four of its wells have been drilled. Only then Production will start.

Functions in Gas Plant Conversion
The conversion factor that indicates liquid yield of a gas plant is now a full-featured PetroVR variable. Now, it can be defined as a function dependent on runtime values, among other benefits.

Enhanced Selectable Performance Groups

enhanced selectable performance groups

Selectable performance groups can now be created also for injection wells, not only for producers. Also, new options for creating selectable groups from existing performance groups have been added to the context menus.

Well Reserves Threshold Expressed in Absolute Volumes
The reserves threshold for drilling a new clone in an automatic development job can now be entered either as a percentage of the well reserves or as an absolute value. Entering the reserves threshold as an absolute value allows setting an economic threshold independent of each well’s ultimate recovery.

Sequential Choke Based on Fluid Components
It is now possible to make the sequence for choking wells feeding a facility dependent on the ratio between a separate component and the main fluid. In one example, wells with the highest content of CO2 can be choked first.

Fiscal Modeling Framework

In 2012, Caesar Systems introduced a new, flexible modeling framework to address the international complexity of fiscal regimes in oil and gas developments. A library of downloadable fiscal models cover royalty and tax regimes, leasing contracts and production sharing agreements with the flexibility to adapt to local system-specific terms, easily and quickly.

The PetroVR library includes more than 400 fiscal systems implemented in a modular framework that has shown to reduce fiscal modeling time from an average two days down to two hours, and many models can be developed in as little as 15 minutes.

Read the Solution on Fiscal Modeling

Read the SPE Paper on Fiscal Modeling Framework

In response to feedback from clients who have adopted the Fiscal Modeling Framework, enhancements to the underlying modeling framework have been completed and are introduced with PetroVR 12.1. With these changes, companies worldwide can use prebuilt fiscal models for construction and quality control of their own international fiscal library.

Simplified Workflow for Changes in Unit Conversion Rates
The workflow for changing unit conversion rates no longer requires manually editing inputs to preserve the value as first entered in the selected unit, such as the currency exchange rates between units of the Money type.

Now, changes to the exchange rate will honor the value of their visible unit, not the base unit. If the visible unit was in Euros, its value will be the same in Euros. If it was in Dollars, it will remain the same in Dollars. In earlier versions, PetroVR kept the value in the base unit and updated the visible input accordingly; now it assumes that the desired value is the one displayed in the selected unit, and internally re-calculates the value in the base unit. Experience shows that this behavior better represent users’ expectations. An option to reset unit systems has also been added in the Unit Setup.

Enhancements to Embedded Econ Models
A series of additions make embedded economic modules more agile. It is now easy to navigate the content of an embedded model, edit it without closing the current model, and incorporate all modules, inputs and calculations into the current model.

Cost Categories Always Available in PetroVR Econ Module
From this version on, all defined cost categories are referenced as results from the PetroVR Econ Module in PetroVR Project, even when they have no associated costs in the Plan Module. This way, Econ Models pointing to Cost Categories will work in PetroVR Plan, even if that Cost Category is not set up in PetroVR Plan.

Column Names in Table FML Built-In Functions
Columns now can be referenced by name in Table FML functions. This ensures that the correct column is referenced if the column order is changed or renamed.

Support for Non-Contiguous Excel Ranges: PetroVR now accepts Excel links that reference multi-area ranges (i.e., a selection of non-contiguous columns of a larger table). Now, the relevant columns of an Excel table to my PetroVR can be mapped to well performance without changing the format. A multi-area range can be created, including the columns to map, and in PetroVR, the non-contiguous range is perfectly mapped into the table.

Client Requests Drive New Capabilities
PetroVR 12.1 features 33 bold new capabilities. At least 20 of these arose from 25 specific requests made directly by clients or by Caesar Systems coaches working with clients.

Major new capabilities: 33
Improvements on existing capabilities: 777

Functional Test Cases: 3,062 new tests
Total functional test cases: 34,768

Unit Tests: 750 new tests
Total unit tests: 11,228