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Petroleum Engineering & Economics Essentials
Tools and techniques to evaluate (un)conventional wells and reservoirs
Page last modified
August 4 2023
Petroleum Engineering & Economics Essentials (PE2 Essentials) is a comprehensive suite of cost-effective tools comprised of reservoir engineering, production engineering, reservoir simulation, and petroleum economics tools.
The tools include the LeBlanc Fractured Well Type Curves (SPE 144093, 2011); the LeBlanc-Okouma Power Law (LOPL) DCA model (World Oil, March 2018); and the LeBlanc Artificial Neural Network Recovery Factor model (World Oil, March 2019).
Pro/con
Fully integrated package
Includes a production database for secure storage of all raw production data
Standard & consistent economic data for portfolio management
Secure & scalable
Efficient, flexible, and extensible
Cost effective
Benchmarked with other industry tools
Includes the LeBlanc-Okouma Power Law DCA model (World Oil, March 2018)
Monte Carlo techniques and Artificial Neural Network Recovery Factor model (World Oil, March 2019)
Individual tools may not be as feature-ridden as some commercial packages
Specification
Areas of Application
Unconventional/Conventional Onshore and Offshore | Oil | Gas wells and reservoirs
Capabilities
Includes basic versions of software tools that are appropriate for quick-look as well as in-depth analysis.
Data Analysis
Production Data Analysis (PDA) is a general rate-time analysis tool which is also the integrator of all the tools.
Database
A proprietary production database for storage of all raw production data and | A tools database for storage of all models and forecast data
Economic Tools
Scoping/what-if project economics | Companies and Assets Performance Evaluation (CAPE) including PSC fiscal regime
Engineering Tools
PVT/Rel Perm Generator | EOS | Monte Carlo Volumetrics | DCA | Monte Carlo DCA | Material Balance | Log Analysis | Recovery Factor Analysis | Pressure Build-up Analysis
Product
Hydraulic Fracture Design | THP-to-BHP | EOR Screening | IOR/EOR/Heavy Oil| Artificial Lift Design | Field Development Planning
Simulation Tools
Analytical and Numerical Simulators | Streamtube Miscible/Immiscible CO2/WAG Waterflood Simulator | Unconventional Simulator
Relative Business Impact
Reviews
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Technology Readiness Level
[9/9]
Development
Technology demonstration
Mature / Proven
Technologies Deployed By
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