P2 Forecast, Powered by BetaZi, is a production forecasting solution that utilizes predictive analytics to generate P1-P99 forecasts for both oil and gas streams. These forecasts are generated automatically and never require any kind of human intervention. They’re also unbiased and accurate, giving you and your teams reliable information upon which to base your reserves, production surveillance economics, operations, and marketing decisions.
Production Volume Forecasting
P2 Forecast uses monthly production volumes and downtime data to generate a full range of probabilistic production possibilities, from P1 to P99, for every oil and gas well in which your company has interest.
Automatic Integrated Surveillance
The P2 Forecast-P2 Carte duo allows you to track actuals against forecasts and make any necessary operational adjustments. Minimize the length of deferments by creating rules in P2 Sentinel that trigger alarms and tasks when production variances exceed probabilistic thresholds.
Increased Forecast Visibility
As an add-in module to P2 Carte, P2 Forecast’s projections are now accessible to every department in your organization. With full probability distribution, each group can select and use the curve they need to meet their departmental needs.
Use P2 Forecast to establish basis for estimated ultimate recovery (EUR) and provide baseline forecasts for use in leading economic software packages. P10 and P90 forecasts – and every scenario in between – can be easily exported for comparison against the p50s.
Take the video tour below to see how P2 Forecast
can provide your organization with accurate, unbiased forecasts!
Assessment of uncertainty is built-in.
No human intervention is needed. Forecasts are updated with each new monthly volume.
Repeatable & Right
The BZ Machine (the forecast engine) doesn’t get confused by shut-ins, artificial lift, or stimulations, so no data filtering is required. The engine is calibrated using rigorous metrics.
Because human intervention isn’t required, human bias has been removed from the forecasting equation.