Econ Model Inputs

Inputs are variables that the economic model will use as source data to perform calculations. They can derive from a variety of sources such PetroVR Plan, Globals, Excel files, result files, or may be created specifically inside the Econ model.

All Econ inputs are dynamically linked to their sources, i.e., changes made to the linked Excel, globals, result files etc. are automatically updated in the Econ model. Inputs whose external reference could not be found are so marked in red with a warning message. In other cases, red indicates simply that the value is still undefined because the Plan model has not been simulated, or because some change may have caused its value to become obsolete.

When an input node is selected, the pane on the right displays the corresponding The Influence Diagram, an editing area for the variable, and a graph of the variable as defined in the editing area.

When you create a new input, the first step is to select the type, which indicates the source of the data. The existing types and subtypes are:

  • Well Input Well Input: Retrieve well variable or result values to be used iteratively in a Well Modules.
  • User Input User input: Create User-Defined Variables.
  • Subtypes: Single Input, Array Input, Table.
  • Result from Plan Result from PetroVR Plan: Import Deterministic Results from the currently open Plan model. Subtypes:
    • CapEx. Objects: Project, Facility, Well, Well Group, Job, Cost Category.
    • Depreciation. Objects: Project, Facility, Well, Well Group, Job, Cost Category. Depreciation types: Tangible and Intangible.
    • Drilling.
    • OpEx. Objects: Project, Facility, Well, Well Group, Job, Cost Category.
    • Production. Object types: Project, Facility, Reservoir, Well Group, Well. Objects: existing facilities, reservoirs, wells and well groups. Items:
      • Gas / Oil / Water: Cums, Developed, Production, Rates.
      • Defined components (from Oil / Gas / Water): Cums, Production, Rates.
      • Blended: Gas BTU, Blended: Gas Density, Blended: Oil Density (only for Project and Facility object types where the options to blend fluids has been selected).
    • Reserves Booking: Object types:
      • Reservoir. Objects: existing reservoirs. Items: Gas, Oil.
      • Facility. Objects: existing facilities. Items: Gas, Oil.
      • Total. Items: Gas, Oil.
    • Resource tracking. Resources: Rig, defined resources. Items: Total: Acquisitions, Total: Daily Utilization, Total: Max Daily Utilization.

In order to be able use the Result from PetroVR Plan type you must have simulated the current model.

The only type of well group results that can be imported under the Results from PetroVR Plan type are those related to User Groups. If you need to import results from other groups, you have to create a user group that contains them and import the user group data instead.

  • Variable from Plan Variable from PetroVR Plan: Import a variable from the currently open Plan model. Object types: Facility, Job, Periodicity, Pvr, Reservoir, Resource, Rig Administrator, Well, Well Completion; if sharing Well Groups have been defined, Drilling Info, Completion Info, Maintenance, Performance and/or Well Geometry are added. Objects: defined facilities, jobs, reservoirs, resources, rigs, wellbores, well completions and sharing groups. Items: all variables defined for the existing objects (both system and user-defined).
  • Variable from PetroVR Contracts Variable from PetroVR Contracts: Import a user-defined variable from the Contracts model belonging to the currently open Plan model.
When calculating the Econ model, each user-defined Contract variable will assume the default value entered in the User tab (root node) of the Contract. The partner-specific value entered in each Partner Node is used when calculating the model from Contracts.
  • Excel Input Excel Input: Link to values in an Excel worksheet by file name, sheet and range name (see Excel Input Editor). Next to the Range selector choose the unit in which the values in the Excel range will be interpreted.
  • Input from Globals Input from Globals: import a variable from the currently open Globals model. Modules: modules defined in the Globals model. Variables: variables defined in the selected module.
  • Result from another Econ model Result from another PetroVR Econ: PetroVR Econ models that have been linked to the current model in the PetroVR Econ Files Tab (PetroVR Econ) . Result types: Economics-Deterministic, Economics-Probabilistic, Operating Expenses, Capital Expenses, Production, Drilling, Depreciation.
  • Result from a Result File Result from a Result File: Retrieve a value from a result file (.rlt). File: PetroVR result files. Result types: Economics-Deterministic, Probabilistic, Operating Expenses, Capital Expenses, Production, Drilling, Depreciation.
  • Input from Palantir Input from PlanningSpace: Input obtained from a PlanningSpace regime; see PlanningSpace Modules. Categories: Bonuses and Fees, Capital Abandonment etc.