1. Max Econ Life: Truncate the well life in years always from the As of Date below.  ECL will be set, and no further economic activity will be scheduled on a well after this date except for items in the Investment (CAPEX) tab set to occur after ECL and/or marked as Abandonment/Salvage
2. As of Date: Start date to run economics for each well.  It is highly recommended to match Aggregation Date (General Options). 
   
1. You can hardcode a date (default method), or use the triggers below which are only recommended to be used for lookbacks or complex modeling on a single well basis.  Misaligning As of from Aggregation Dates makes any multi-well aggregation run moot
   
2. FPD: First production date from the hierarchy below
   
3. Maj Seg: Forecast start of the primary product for the well
   
4. Dynamic Date: First of Next Month or First of Next Year, this relative dating applies to today's actual date, not your aggregation date
   
3. Discount Date: Discounting "to" date for each well
   
1. Recommend to ALWAYS match Aggregation Date (General Options) since wells with different discount dates should NEVER be aggregated
   
2. The same selection options apply as on As of Date above
4. Cash Flow Prior to As Of Date: Setting to ‘Yes’ is typically used to make sure that CAPEX prior to As Of Date is included (Full-Cycle Economics)
   
1. This is effective in allowing sunk costs to be used to determine cash flows for triggering ownership reversions for instance.  Full-Cycle Economics is another instance where you want a profitability test even on wells beginning before the As-of Date
2. This does not affect the "start dates" of wells in aggregation but it can cause the first reported cash flow on an econ run report to backdate to the first spend upon single well run, econ or One Liner
3. If cash flows prior to As of or Aggregation date are included in the economics, they will be inflated from the past to the Discount Date
   
5. Prod Data Resolution
   
1. Same As Forecast: Uses either the daily or monthly data first historical prod data point (non-zero) when "Prod Data" is selected as an FPD Source below.  It looks to see the selected data source used to generate the forecast over in the forecasting page.  Note that monthly data will generate a mid-month (15th) as the point, but daily Ti (Initial Time) can be any day of the month
2. Daily: Uses the daily data first historical prod data point (non-zero) when "Prod Data" is selected as an FPD Source below
   
3. Monthly: Uses the monthly data first historical prod data point (non-zero) when "Prod Data" is selected as an FPD Source below
6. FPD (First Prod. Date) Source Hierarchy:
   1) Ability to control the first production date provenance which will be used to trigger well events (anything with FPD selected as trigger)
   2) Ignores any production/forecast until this point
   3) In some cases, moves the actual forecast
   WARNING that FPD is only a well event date and is independent of forecast start, so adjusting those will need to be done on the forecast page. The exceptions to this are:
   1) Forecast/Schedule but only when a schedule is chosen on the scenario page. The schedule moves the forecast start, not the FPD selection here though
   2) The special case of “Link to Well’s ECL” described below.  This one in particular DOES move forecast starts to facilitate group economic modeling of starting one well or model used for multiple wells based on the economic limit of another well in the scenario (such as a recompletion up-hole or a pad drilling program without SI or SIMOPS)
   NOTE that in the event of a schedule that adjusts forecast start and a Link to Well's ECL that also adjusts forecast start, the schedule will be overridden by the Link to Well's ECL!
   
1. Options:
   
1. 
   Well Header (Ignores) - The well header titled "First Prod Date"
   
1. Note: Well Header Date can easily be edited by clicking any "..." next to a header on the scenario page and "View Well"
2. Prod Data (Ignores) - The first non-zero or null data point of the data source identified by the Prod Data Resolution above. (Note existence of prod data can cause well header to be skipped if the "Use Forecast/Schedule When No Prod" button is selected as "yes").
   
1. Note: The daily/monthly prod data may be viewed in the same place described under Well Header above.  It includes the date identified by CC from the production data IF "Run Calcs" has been done via: Project Wells Page ==> Operations ==> Run Calcs.  The actual date of daily/monthly data is always from the live data and not the reflected date however so, keep that in mind if updates are made to the actual data via edit or csv import.
3. Forecast/Schedule (Moves) - forecast start via schedule selected on the scenario page): used as one dropdown item but has its own hierarchy: Forecast start date will be used if no schedule is present but if you use a schedule, it will naturally adjust start dates, overriding the forecast start date.  A schedule also must be set in the scenario page under "Schedule" for this particular well also with a valid FPD for this well for it to be picked up to use as FPD source.
4. Date (Ignores) - hardcoded date entered here in a cell that will allow entry when this is selected.
   
5. Not Used (NA) - just skip this cell and go to the next (may be used in any order from the top to bottom cell).
   
6. Link to Well's ECL (Moves) - Designed to start a completion or well based on another well’s econ limit for each concurrent econ run (by entering the INPTID of the parent property here).  This is updated dynamically only at run time of both properties.
7. On the items above:
   
1. "(Moves)" denotes hierarchical use of this as the FPD will move forecast start of all phases.
   
2. "(Ignores)" denotes hierarchical use of this as the FPD does not move forecast start but if date is after actual production and/or forecast, it will cause that data to be ignored (not available for econ runs) until the date is passed.
3. "(NA)" denotes hierarchical use of this as the FPD does neither the above.
2. Select events to use through the FPD Source dropdowns.  If they are populated, that value will be used, starting at 1st FPD Source.  If not populated, the hierarchy will be honored going down the list until a valid date is found.  You can always bypass the subsequent search by entering your own hardcoded start date which will never be skipped.
   
3. Use Forecast/Schedule When No Prod: This final box was added as an if/then selection so as to leave unaffected any pre-v29 project which used the old logic which was: if production data were present, use Well Header, Prod Data, Forecast/Schedule -but- if production data was missing, like for undrilled future wells, ignore anything entered in Well Header and just use Forecast/Schedule.  
   It is recommended to switch the default "Yes" to "No" in the case you're intending to use FPD. Recommended to leave this trigger on "Yes" for upside developments you'd like to reference TC start date.
   
4. FYI, "Forecast/Schedule" is used as one dropdown item, but has it's own hierarchy: Forecast start date will be used if no schedule is present but if you use a schedule, it will naturally adjust start dates, overriding the forecast start date.
   

Economic Cut Off Settings

These cut off settings controls the end to economic life (ECL) based on criteria triggers.  Note that all CC Cut Off methods have a profitability test whereby wells that are non-accretive (have negative NPV) are zeroed out economically.  If this test is not wanted, a Min Life may be used as an override.

1. Methods:
   
1. Max Cum Cash Flow: Most common, this Maximizes NPV at the specified % discount and cut off when monthly cash flow is no longer accretive to the property.
   
2. First Negative Cash Flow: Only use for very aggressive econ cut off (Revenue – Expenses) but also allows for # months delay before S/I
   
3. Last Positive Cash Flow: Shuts in the well when the last positive cash flow exists
   
4. No Cut Off: Run to major phase forecast life
   
5. Oil Rate, Gas Rate, Water Rate: Cut economics off when the prod stream reaches the specified rate
   
1. Items imported from other programs may default with a very small value if imported with “No Cut Off” so that the minor phases end at same time as major phase.
   
6. Date: Specifies a date to cut off economics
   
1. Note: Future scheduled wells might not get drilled in MCCF or FNCF if CAPEX not excluded. Excluding also allows workovers or recompletions to proceed
   
7. Years from As Of: Similar to Max Econ Life used to hardcode a final reporting period.
   
8. Link to Well's ECL: Allows for group cutoff based on a parent (governing) well's economic limit being reached.
2. Min Life: Minimum Life of the well where economic shut-ins are ignored until the trigger below
   
1. None: Always uneconomic wells shut-in at As Of date
   
2. Date: Specify a date to end economic calculations and keep alive until then
   
3. As Of: Use the As of Dates to the left to shut in uneconomic wells
   
4. End Hist: Uneconomic wells continue to run economic calculations when historical production is available for that month
3. Trigger ECL CAPEX (Unecon): This is a handy way to ensure always-uneconomic wells get abandonment applied regardless of any economic limits.  If a well has already been drilled and MUST be abandoned at some point, click yes and make sure to schedule abandonment with a trigger of "Econ Limit" with or without a delay.  Scheduling abandonment or salvage with hardcoded dates for instance will not interact with this item so may or may not be scheduled despite intention to do so.  On the other hand, you probably want to select "no" on undrilled future wells (PUDS, PROBS, etc) because they may not have to be plugged if economics say they won't be drilled.
   
4. Include CAPEX (When contextual menu provides this selection): Exclude CAPEX to guarantee well gets drilled and/or not let workovers kill wells.  Note this does not include any investments linked to “Econ Limit”, including abandonments.
   
5. Discount (When contextual menu provides this selection): Enter primary discount rate or a hurdle rate for profitability test.  ie, wells must not only make a positive return but also cover the discount rate (sometimes considered the "cost to borrow")
   
6. Tolerate Negative CF: CC economics have daily resolution for most items and actual number of days in the month dictate the revenue from production -vs- the whole month expenses.  Thus if you have a 28 day February, you may see an SI event since you only have 28 days of revenue but an average 30.4375 days of fixed expenses.  To mitigate this, "Tolerate" may be entered for 3-months for instance which ensures that SI will only happen in that first month -if- the following two are also negative.
7. Economic Limit Delay (When contextual menu provides this selection): Operators often do not sense well is uneconomic until a time after negative cash flows occur or contractual obligations require keeping wells on production so this keeps wells alive for a time
   
8. Align Dependent Phases: Aligns life of secondary phases to truncate when the primary ends so as not to inadvertently extend well life by a non-primary product. 
   i.e. an oil well has a gas phase that goes for 20-years longer and exceeds the expenses just with that phase.
   

Note: See the discussion above on Tolerate Negative CF.  When determining ECL in CC with daily resolution and comparing to other software such as ARIES with only monthly with average days per month (ARIES uses 365.00/12 = 30.4167), SI dates may differ significantly when economics are very marginal over time (low slope on the cash flow chart).