Recalculate a Group Forecast

By default, the forecast on a group is a summation of the child wells forecasts.

You can recalculate the group forecast if you have:

  • Deleted it to do a best fit on the group, but want to return the manual summation forecast
  • Edited the forecasts of child wells and want to incorporate these changes into the group forecast
  • Updated production on the child wells
  • Added or deleted wells from the group

To recalculate a group forecast

  1. Do one of the following:
    2. To Do this
    Recalculate one group, On Predictions | Declines, click  and click Recalculate.
    Recalculate more than one group, Select the groups you want to recalculate (or filter to them). From the Entity menu, select Recalculate Groups.
  2. Select the following options from the Recalculate Group dialog box, as required:
    3. Option Description
    Recalculate production history Updates the production history, but does not move the group forecast.
    Recalculate forecast Recalculates the group forecast (summation of child wells). If there is a decline, it is deleted unless Skip groups with declines is selected.
    Skip groups with declines Use this option to prevent Value Navigator from replacing a best fit decline with a manual (summation) forecast.
    Recalculate volumetrics recoverable Recalculates volumetrics recoverable.
    Recalculate P/Z recoverable Recalculates P/Z recoverable.
    Recalculate DepthsRecalculates depths
    Recalculate CapitalRecalculates capital
    Recalculate child groups If the group contains groups (child groups) they are only updated if this option is selected.
    Current reserves category Applies the selected options to the current reserves category.
    All reserves categories with forecasts Applies the selected options to all reserves categories with a forecast.
    When a group has child groups, if some of these child groups have declines at the child group level (instead of a summation forecast), it is possible to sum these child group declines by selecting Skip groups with declines. This allows you to keep any child group declines intact.
  3. Click OK.