Chance of Success

• When you’re drilling a well in a play, do you know what your chances are of encountering hydrocarbons in the stratigraphic interval you are targeting? petroCUBE provides you with Chance of Success graphs that assess your risk factors.
• Chance of Success for a play is developed by taking the total number of successful wells in a play (those that have produced oil and/or gas) and dividing that number by the combined total of wells drilled into the play and dry holes drilled into the stratigraphic interval directly below the play.
• Chance of Success is determined for each hydrocarbon play in petroCUBE, and is typically based on the last five years of drilling in the play.

Reserve Potential

• The Cumulative Frequency Distribution shows how the reserves for a play are distributed. These calculations include the average reserves for a play (Pmean), what the reserves are for the best 10% of the wells (P10), what minimum reserves were developed by 90% of the wells (P90), and more. With this plot, you can also see how your wells compare to other wells in the play.
• Ultimate reserves are determined for all wells in a play by rigorous decline curve analysis. The cumulative frequency curves are then constructed with this reserve data using industry-accepted statistical methodology.
• Cumulative frequency curves are shown for all wells drilled in a play, for the wells drilled in the last 10 years, for wells drilled in the last 6 to 10 years, and for wells drilled in the last 5 years. This allows you to see how the reserve distribution for a play has changed over time

Production Performance Profiles

• The Production Performance Profiles show how a well in a play will produce over time. The curves provide initial production rates and decline rates for a range of well types in a play (Pmean, P50, P90, and P10).
• Information in these curves is derived from the production data for wells in the play that were drilled and placed on production 6 to 10 years ago.
• The type curves form the basis for production profiles used in economic analysis.

Reserves vs. Time (Reserves vs. On-stream Year)

• Want to know how a play has developed over time? Are reserves declining in this play over time?  By how much?
• The basis of this plot is a rigorous decline analysis for every productive well in a play. The reserves for each well are plotted against the date that the well came on production.
• These plots are valuable for a quick scan of the reserve trends in a play, the highest reserves, when most of the wells were drilled, etc.

Price Sensitivity Curve (Breakeven Prices)

• Want to know a quick net present value for a well in a play? petroCUBE provides price sensitivity curves for the average well (Pmean) in all plays.
• Economics are created for the Pmean case for a range of commodity prices.  The resulting net present values are plotted against the commodity price.
• When looking at undeveloped acreage in an acquisition, if your technical team determines that additional drilling locations are present, these curves can provide you with a quick answer for the value of these wells, and hence the undeveloped acreage.
• The point where the plot crosses the zero net present value is the “breakeven price” for the play. This is an indicator of what commodity price is needed to make the play economically profitable.