PHDWin Crash Course: Part 1

Creating Reserves Reports with PHDWin Software (Part 1)

Part one of our in depth engineering training on how to generate oil and gas reserves reports on PHDWin Software by our lead petroleum engineer, Kurt Mire. This segment is perfect for students and other industry professionals looking to understand more about oil and gas evaluations and how to put theory into practice with PHDWin Software!

Training Topics Table Of Content

  1. Barrels & Dollars:
    1. What is reserves evaluation? (0:32)
  2. Production Data:
    1. Understanding the production data (2:49)
  3. PHDWin Database Creation & Setup:
    1. Creating a new database [or copying an existing one] (_)
    2. Creating the cases, the wells or leases (_)
    3. Importing data from DrillingInfo or IHS (_)
    4. How to set it up on the PHDWin Software ( -26:14)
  4. Well Ownership:
    1. Sources of ownership data (_)
    2. Unit ownership example (_)
    3. Ownership analysis through land & lease map (_)
    4. Landowners & mineral owners chart analysis & explanation (31:38)
    5. Working interest owners explanation (32:56)
    6. Ownership summary (34:36)
    7. How to set up ownership on the PHDWin Software (35:11)

Link to full PowerPoint

PHDWin Software Crash Course Part 1 Study Guide

1.) Barrels & Dollars

1 – Estimate volumes of oil and gas (reserves)

  • Decline curve analysis (producing wells)
  • Volumetrics (producing wells, proposed wells)
  • Material balance
  • Simulation
  • Analogy

2 – Estimate the value of the reserves

  • Future cashflows $$ (economics) PHDWin – software tool
  • Discounted cashflow (NPV, PV, PW) 10%, 20%, 30%, 40%, 50% etc
    • $ / barrel
    • $ / flowing BOPD
    • $ / acre

2.) Production Data

• Monthly oil, gas, water
• Daily data
• Test data
• Lease production (multiple wells)
• Allocated vs unallocated
• Days on production
• Estimated water
• Public data, state websites RRC, DOC, Miss O&G Board
• Client / operator provided
• Commercial sources, DrillingInfo, IHS Energy

3.) PHDWin Database Creation & Setup

List of PHDWin Database Case Variables:

• As of date
• Max economic life
• Discount rates
• Sort orders
• Filters
• ID codes
• Graph titles

4.) Well Ownership

All reserves cases must have the correct ownership data
Producing wells
Shut in wells
Proposed wells

Sources:

• Operator / owner
• Check stubs
• LOS (Lease operating statements)

Contact Us With Any Questions You May Have!

kurtmire@mireandassociates.com
713-882-9598
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