ComboCurve: Scenario Incrementals

ComboCurve: Scenario Incrementals

Scenario Incrementals

Overview

Incrementals are secondary sub-wells in a parent-child relationship to allow modeling changes in well status, costs and forecast due to an event such as: recompletions, workovers, tranching of reserves due to probability, etc.  It can be handy to use incrementals to track these changes on a secondary well so they can be turned on/off or aggregated separately using "Reserves Category" models.

Note:  in CC, incrementals are not a separate entity but rather a child with the exact same production and headers as the parent.  They even share the same INPTID and forecasts within the same forecast set.  Only models may differ between the parent and child.

Steps to Create

1) Select the well(s) to create incrementals by filtering to those wells or by checking the blue box next to the well.  Up to 100 may be created in a case at one time.
2) Click "CREATE INCREMENTAL"
3) Finalize by clicking CREATE on the pop-up selection.
4) A new column "Inc" will be shown with "1" denoting the child in the incremental pair with the parent being located just above the child.





Modifying parent and child of the incremental

Upon creation, the child will have a duplicate set of models as the parent but those may then be changed.

Forecasts:
  1. Create a second forecast set to house the incremental child parameters.  Depending on the goal of the incremental, this may be done by copying the parent forecast set (to duplicate the previous parameters for modification) or by creating a new forecast to those a completely different set of parameters.
  2. Modify the forecast to represent the identified new forecast at a certain expected data and forward.
  3. On the scenario page, select this new forecast on the child (leaving the parent on the original forecast)

Scenario Models
  1. If the goal of the incremental is wedge production, you may want to leave the parent models as they were so that they generate the same cash flow and use the same shut-in timing as before.  If the idea is that the child "takes over" from the parent at some date, you may want to edit the parent to stop a that point.
  2. Modify the child models to reflect the start dates needed to make it adjust appropriately from the parent (ie, knowing a recompletion occurs at 1/2025 for instance, stop the parent and star the child at that date to also match the child forecast start).
  3. Also change any other models such as CAPEX to represent the child additional costs., OPEX to represent any change in Expenses and Reserve Category, etc.
Organize the scenario to run the incrementals appropriately in tandem with other properties.

Deleting Incrementals

Deleting incrementals can be done by selecting checkbox(es) next to the "1" denoted properties in the "Inc" column and then clicking the orange "DELETE INCREMENTAL" and then "DELETE" on the pop-up selection.



Note: currently in CC, only one incremental per property may be created.  More may be added in the future to model multiple changes or tranching but in the meantime, separate well duplicates may be used with their own child incrementals to accomplish the same goal.  


Reports/Economic Outputs of Incrementals

After running the scenario with the incremental the incremental cases' outputs will only display the difference between it and the original (parent) well not a combined output. 


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