Create a basic Result Set

To create a basic Result Set, you have three options:

  1. In the Result Sets Explorer, click on The New Result Set button on the toolbar and select Basic Mode.
  2. In the Result Sets Explorer, right-click on any Result Set or folder and select New > Basic Mode.
  3. In the Hierarchy Explorer, right-click on the node which you want to calculate and select New Result Set > Basic Mode. In this case all projects and consolidations under this node will be automatically selected for calculation.

Whichever option you choose, the Result Set setup screen will be displayed.

  1. In the Result Set Name field, enter the name of the new Result Set. The maximum length is 50 characters. Names must begin with an alphabetical or numerical character and cannot contain = \ ; : * <> / @ ? | " +.
  2. The Convert To field is used to convert basic Result Sets into the advanced mode.
  3. The Location field contains the list of folders in the Result Set Explorer. Select the folder where your Result Set will be stored. If the folder you need does not exist, create it by clicking on the New Folder button.
  4. In the Select Calculation Hierarchy field, select the hierarchy which contains projects you want to calculate. The hierarchy will be displayed in the box below the field.
  5. The drop-down list under the Select Calculation Hierarchy field contains filters which you can use to limit the number of displayed projects. For information on how to set up filters, see Set up and manage hierarchy filters.
  6. Check boxes next to the names of projects you want to calculate. You can expand and collapse consolidation nodes by right-clicking on them.

Note: Basic Result Sets use project scenarios as specified in scenario weightings in the project. If weightings have not been specified, the default scenario will be used.

  1. In the Partners section, select which groups or partners will be calculated:
    • Use partners selected in the project: To use this option, you need to set up partners in each projects in advance, making sure that they are selected for calculation. For more information, see Add working interest shares for partners and groups.
    • Calculate Gross only: If you select this option, individual partners' shares will not be calculated and you will only be able to report on gross values.
    • Select partners for calculation: This option opens a list of all available partners and groups of partners. If the list is too long, you can filter it by typing names in the text field.
  2. In the Result Set Runs section, add and set up Runs. A Result Set must include at least one Run; when you create a Result Set, Run 01 is created by default. Newly created Runs that have not been calculated yet are grayed out in the Result Sets Explorer. To rename a Run, click on its name in the table. To specify which price and currency scenarios should be used, click on the corresponding cells in the table and select values from drop-down lists.
  3. In the Ring Fence section, you can turn ringfencing on or off if you have set it up for selected consolidation nodes. Turning ringfencing on will produce more accurate results but will slow down the calculation. For more information, see Incremental economics and ringfencing.
  4. In the Calculation Location section you can specify whether the Result Set should be calculated on your computer or on the calculation server. To find out whether your company is using a server, contact your administrator. For more information, see Calculate Result Sets on the server.
  5. Once all required Runs have been set up, you can postpone calculation by clicking on the Save Settings and Exit button, or start it by clicking Calculate. When the calculation has been finished, the results will be stored in the database.

Note: It should take around 1 to 2 seconds to calculate one project; however, the actual time will depend on the combination of calculation settings: for example, if there are ringfences on multiple levels, calculation will take longer.

  1. Once the Result Set has been calculated, a confirmation message will be displayed. If it has been calculated successfully, Runs icons in the Result Sets Explorer will change to The green circle icon. If there are errors or warnings, the icons will change to The red circle icon or The yellow triangle icon; in this case you will be offered to view the calculation log.

You can specify which users and groups can open and change a Result Set. Select the Result Set in the Result Sets Explorer and click on The key button or right-click and select Permissions. The Result Set Permissions window will be opened (for more information, see Item Permissions).

If you made changes to projects in an existing Result Set, you can recalculate only those projects to save time. To do that, open the Result Set and check the Recalculate Changed Projects Only box. This option can only be used if ringfencing is turned off.