Volumes, rate and producing time

Loading volumes

Decline natively stores production data as volumes. So data loaded as volumes is not changed when it is saved to the PlanningSpace database. In the Decline application many of the charts and tables show rates. These rates are calculated using producing time information, where:

Rate = Volume / ProducingTime

Loading rates

As data is saved as production volume in the PlanningSpace database, production rate data must be transformed. Using the rate and the producing time information a equivalent volume is calculated:

Volume = Rate * ProducingTime

Producing time

Producing time data is useful when forecasting as it helps to account for noise from downtime. It also helps address the issues that occur when using exact dates in a periodic data set.

In all of the data loaders producing time is expected to be described in hours.

The logical maximum for producing hours in a period is the difference between the last day of the period and the date of the production record. If the imported data is invalid or missing, this maximum will be used. Otherwise the imported value will be used.