The Project is the top-most node for storing data and reporting. Limited economic data, such as the fiscal model settings and evaluation parameters, are stored at the project level. When more than one Scenario exists, the Project provides a reporting point for a consolidation of the Scenarios. The Scenario Consolidation Factors (set in the Planview Tab) determine whether reporting at the project level will generate aggregated, incremental or risk-weighted results. 

Production is defined at the wells and flows through the asset network through the connecting pipelines and facilities to be sold at the designated sales point.

 

In a similar fashion, cash (eg. revenue or capital) ‘flows’ through the asset network.

 

At each node in the network, you are able to conduct detailed reporting of all production and cash that flows through that node.

 

Wells

 

Wells are the only way to introduce production into a WellSpring model.

 

Production forecasts for a well can be generated using volumetric declines, product ratios, imported production arrays, or AOF and gas reservoir parameters (nodal pressure model analysis only).

 

Facilities

 

The facility is the generic modelling asset in WellSpring that represents surface facilities (eg. gas plant, oil battery) or provides reporting points in the model (eg. a drilling program, field-level results, business unit results).

 

For production modelling, facilities provide the ability to define capacities for any of the produced products in the volumetric model or for natural gas in the pressure model.

 

Facilities are the only assets that model the extraction of in-stream components and also are typically used for splitting production down multiple pipelines (eg. produced oil goes to the sales point while produced water goes to injection).

 

For economic modelling, facilities can be used as consolidation points for reporting results, can introduce facility capital and operating costs (fixed or variable), or can be used to apply risk and sensitivities.

 

Project Links

 

A project link provides the means to consolidate projects in WellSpring, such as for corporate roll-ups. The project link asset is linked to another WellSpring project and stores the calculated results from that project.

 

An asset link is created and connected into an asset network in the same fashion as wells and facilities. The results stored in the project link are updated when specified by the user, although all project links can be updated at one go.