Managing an oil and gas refinery from A to Z is a heavy task coming with a number of resource management challenges. Pheasant Energy is a Fort Worth-based upstream oil and gas company. Their team analyzes a high rate of opportunities and a proven history of transacting quicker than anyone in the industry.
Yes, you get it right. As the raw material is on stake, proper resource management becomes one of the biggest concerns for refineries. This gives rise to a question — are they doing it right?
Well, even if your management team has been doing fine, you can’t make the most out of your refineries resource management chores if you fear to upgrade to REP.
Wondering why? We’ll share all the answers.
Buckle up. Here are 5 reasons why your oil and gas refinery needs a resource evaluation programme (REP).
1. A Concise and Direct Presentation of Results
While a manual assessment of production management data in an oil and gas refinery can be exasperating, REP will make life easier for your team.
E&P software in 2019 is equipped with tons of useful features that make data tracking as easy as a walk in the park.
In fact, a resource evaluation programme will regularly produce report quality output which can be made into overheads and can also be included in the final submission documents.
2. Takes Care Of Essential Volumetric Calculations
One of the best features of REP is that it handles all calculations of prospect and field reserves for a number of fluid types.
Ranging from oil, gas, ‘oil and gas’ and ‘gas condensate’ to ‘gas condensate with oil’, a resource evaluation programme handles various types of volumetric calculations.
3. Area/Depth Tables Can Be Directly Imported into the Volumetric Sections
Another useful feature of REP is that it allows workers to import area/depth tables directly into the volumetric section.
This means you can use a scanner, digital camera or even a mobile phone to get a contour map on your desktop screen and trace around the contours with your PC mouse.
Easy, right? It will surely make your team’s life easy.
4. Consolidations Module and a Few Other Features
One of the most powerful principles that good e&p software support is consolidations module.
In its simplest form, consolidation is a probability-based sum of input distributions (prospect evaluations).
And that’s not where the good things end. Good REP software come with more useful features. A few of them are listed below.
- Economic minima definition (with respect to recoverable oil and gas)
- Dual porosity system definition (fractured carbonates)
- Inclusion of standard correlations for oil and gas properties
- Provision of quick-look production profiles based on simple and globally applicable rules
- Dependencies between inputs can be defined — example porosity on depth or saturation on porosity.
5. And Above All, It’s Super Easy to Use
One common reason why refineries fear software is that many of them aren’t comprehensive enough and require time and effort to be learnt. Not everyone has that time, and so they drop the idea of employing software like this.
Thankfully, that’s not the end of the world.
Most of the modern oil and gas production management software come with simple UIs that are easy to understand and use. So you know that questions like “will my team be able to get the hang of it?” can’t bother you.
Resource management being one of the most important oil and gas refinery functions, needs to be taken care of correctly. And as many businesses suffer for the tons of data, REP can come in handy.
And to help you decide, here we talked about 5 reasons why your oil and gas refinery needs one.
Hopefully, this was helpful.