An Excel Spreadsheet Tool
Use Easy Well as a spreadsheet tool to quickly generate petroleum
forecasts. The steps are simple, like any other Excel functions,
simply type in the function name, enter at least two required parameters
(initial production rate and annual decline rate) and any optional
parameters (decline exponent, economic minimum rate, rate constraints,
etc.) and in seconds you have a created a petroleum decline forecast
right in your spreadsheet.
Easy Well Function Writer
Not sure what the order of parameters are? Highlight any cell in
the forecast, choose
EZOIL from the Easy Well menu, and a function
writer comes up that shows you all of the possible parameters. This
easy-to-use function writer calculates well information such as
expected ultimate recovery, production length and graphs the forecasted
production. Add, change, or link any parameters right in the function
writer, when you are satisfied, the function parameters are automatically
updated in the spreadsheet.
Easy Well vs. Forecasting Software Packages
According to a recent survey, “more then half of forecasters
surveyed use either solely spreadsheet packages (60.4%) or in combination
with one or more forecasting software packages.” Many forecasters
need the simplicity and flexibility of a spreadsheet to customize
the economics to each properties unique fiscal terms. For these
people, expensive forecasting software is often used to generate
well decline profiles that are then exported to a spreadsheet so
the economics can be run. Use the Easy Well Excel Add-in to integrate
your decline projections with your economics. With Easy well you
can create, edit, and change the decline profile — all from
within the spreadsheet.
A Powerful Forecasting Tool Made Simple
Don’t let the name deceive you, Easy Well is a powerful forecasting
tool. Analyze up to four unique production streams per well, commingle
zones, and apply rate constraints with Easy Well. Not sure what
it all means? Just press the graph button to see visually how each
parameter affects the forecast. Fine-tune your forecasts by adjusting
any variable, Easy Well automatically recalculates the recoverable
reserves to create the most accurate picture. Need to match volumetric
or reservoir simulation recoverable reserves? Solve for initial
production rate, annual decline rate, or decline exponent with the
Easy Well function writer. The flexibility of this tool enables
you to create the most accurate picture possible in the most time
effect manner.
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