Consolidate reserves volumes, classification, status, and changes to volumes into a single repository.

 

P2 Production Manager

The Production Manager component of the P2 Reserves Management system is used to assign both the primary product actual production and production forecasts of single wells or groups and any related byproduct forecasts. The production forecast may be derived from a posted decline analysis, or a manually posted forecast that was defined by the user. A separate tab is used to enter actual injection volumes and injection forecasts.

A remote cross-reference function allows you to enter mapping and allocation information for remote information sources. Once set up, a remote import transaction can be invoked to automatically update production and deplete reserves.

Production can be entered based on total interest or on net, depending on which option you choose, as monthly or annual volumes. The working and net interests, for any given month, are used to calculate the missing total, or net production volumes.

During the current year a combination of actual and estimated production and/or injection volumes are used to derive the annual net production for depleting reserves. All actual production updates automatically replace the estimated volume. Changes to production and/or injection to any month prior to the current year automatically generate a system reserve revision in the current period. In the future, look for tight integration of production, sales, land and ownership data from the P2 Energy Solutions family of back-office products, including Enterprise Upstream, Qbyte, Excalibur, and Enterprise Land systems.