Visual Layout on 'Network View'

WellSpring is a visual application that shows a graphical layout of your wells, pipelines, facilities and results. This drag and drop interface lets you quickly construct a project, enter the data, and view the results like never seen before.

On the Network View you can:

• View a standard well symbols and facility icon view
• View bubble maps of production or economic results
• View miniature thumbnail graphs of production/economic results
• Animate the results over the 50 years of calculations

Gantt Style Development Scheduling on 'Plan View'

WellSpring's second differentiating view is a Gantt style project interface that allows our users to quickly manipulate and optimize the development timing of their project. Features include:

• Quick graphing and reporting of the economics at any point in the network layout
• Drag and drop scheduling of your wells and facilities
• Scenario management features for quick control over scenario consolidations, incremental analysis, and risked rollup of results.

Decline or Nodal (Pressure) Production Modeling

A project in WellSpring can either be based on a standard set of decline equations and volume based pipeline flow, or a dry-gas hydraulic pressure model with full back-pressure and compression capabilities. Some features include:

• Decline Analysis - multi-segment drag and drop decline curve analysis  with production history (exponential, harmonic, hyperbolic)
• Nodal Analysis - Specify multiple AOF (n,C) parameters along with reservoir pressure and tubing string configuration
• Manually specify (or cut and paste from Excel) a specific production forecast in either the Decline or Nodal models that can represent 3rd party contracted production or output from another modeling tool
• Specify multiple 3 point compression curve specification or use the compression design mode to find the optimum timing and horsepower requirements
• Full byproduct and gas component extraction model allows you to specify where liquid dropout occurs or H2S or CO2 is extracted

Risk and Sensitivity Analysis

Direct integration of risk and sensitivity analysis in the network economics lets you lay out multiple risked development scenarios and quickly view the impact risk has on your expected values and reserves.

• Each well or facility may specify the probability of success and opportunity. This combines statistically with all downstream facilities risks to let you quickly model dependent field development stages.
• Sensitivity factors for initial production rate, reserves, capital and operating costs can be specified at each well and facility.
• Find the "behind-the-pipe" value for each constraint in your network.

Network Economics

WellSpring can model some very complex economic situations by incorporating the flow network directly into a detailed economic modeling tool. These include:

• Multi-layered cost and capital structure at wells and facilities
• Tracking disparate working interests for wells, pipelines and facilities
• Paid and received processing fees at various points in the network
• Multiple product sales locations with different product prices
• In-stream gas component tracking alongside ownership and royalty status

Production Curtailment and Downtime 

Facility downtime, facility production constraints, and pipeline back-pressure all cause production curtailment. In WellSpring you can specify:

• Volume based facility constraints such as water handling capacity or gas contract volumes
• Composition based constraints such as CO2 or H2S % limits.
• Pipeline or sales point M.O.Ps (Maximum Operating Pressures)
• Downtime models at both wells and facilities that can layer in everything from turn-around to hurricane season

Facilities

In WellSpring, facilities are full economic entities and as such can have specific capital, operating costs, processing fees and working interests associated with them.

Costs are layered in as production flows through each facility with an economic limit check and fixed cost allocation occurring at each level of the network

Pipelines

In WellSpring, production moves from the wellhead to a sales point via a network of pipelines and facilities. Twin pipelines, line reversals and multiple inlet/outlet pipelines are all supported.

The pipelines topography can change from month to month and each pipeline is defined to carry specific products.

Pipelines can have maximum capacities and maximum operating pressures that limit the overall production network performance.

Auto-Development Rules

Because WellSpring represents a dynamic model of your field, automated rules can be defined to take certain actions when a particular event in the production network occurs.

For example, WellSpring supports a "Fill Facility" rule that automatically controls the pace of a drilling program so as to keep the facility at or near capacity but not spending capital until required.

Other Auto-Development rules include:

• Expand facility capacity to meet production capabilities of the wells
• Drilling schedule based on drilling timing and rig availability
• Drilling schedule based on a percentage of free cash flow to be reinvested.

Scenarios & Reserves Planning

Within a single project, as many different development scenarios can be created, consolidated and compared as a user wishes.

WellSpring makes creating alternate scenarios easy and can be used for:

• Quickly examining a new development idea and seeing the results side by side in seconds.
• Doing incremental analysis between two development scenarios (i.e. with and without compression)
• Combining multiple versions of a development plan using risk factors to create an expected consolidation.
• Tag scenarios with reserve categories for quick reserve reporting and graphing