A new build of PHDwin V3 has been released for beta program participants. This new build contains a number of new features for you to explore including:
Prospect case creation tool
You can use the Prospect Case Creator to create a series of cases as part of a drilling schedule, using any case as a template for the new cases. The cases can be scheduled into the future at regular intervals that you specify as a number of months or days.
You can optionally add the new cases to a PRMS Project. When you add cases to a PRMS project, the Economic Start dates are linked to the Project Start date plus an offset that is easily edited from the Project Manager. If you do not add the cases to a project, all eco start dates will be hard-coded according to the schedule that you input.
Project Manager Tool
You can create projects in PHDwin to group one or more cases together by a common project name and start date. You can sort or filter by project name to simplify the assessment and reporting of those cases. Since a project has a start date, you can link the cases to that start date, which makes it really easy to reschedule a group of cases in the future if your project constraints change or you need to assess the feasibility of different timing schedules.
Improved Grid Editor
Introducing: Economic Hurdles
PHDwin V3 features new economic life settings to give you more control than ever over the economic calculations.
- Max Cum Cash Flow(default) – The case’s ECL will be the date that is has reached the maximum cumulative cash flow. Cash flow is defined as revenue less expenses and taxes. The case may or may not have negative months but will continue to run until the date that the cash flow is maximized.
- Technical EUR – The case is forced to run up until the technical EUR. This means that it will run up until the end of the monthly history or projection, whichever is later. It does not matter if the cash flow is positive or negative.
- Max Eco Years – The case is forced to run out until whatever is set for the Max Eco Years, regardless of positive or negative cash flow. The default Max Eco Years is set in the Scenario settings, and can be overridden on each case.
Introduction of Graph Reference Lines for Regime Flow
If you plot historical data on a log-log plot where the units of the horizontal axis are delta days or material balance time, you can determine the flow regime of the well, which cannot be seen on semi-log rate time plots. Knowing the flow regime can help to improve the accuracy of your production forecasts.