Petroleum Engineering & Economics Essentials
Tools and techniques to evaluate (un)conventional wells and reservoirs
Page last modified
April 11 2024
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).
Pros & Limitations
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Fully integrated package
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Includes a production database for secure storage of all raw production data
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Standard & consistent economic data for portfolio management
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Secure & scalable
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Efficient, flexible, and extensible
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Cost effective
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Benchmarked with other industry tools
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Includes the LeBlanc-Okouma Power Law DCA model (World Oil, March 2018)
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Monte Carlo techniques and Artificial Neural Network Recovery Factor model (World Oil, March 2019)
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Individual tools may not be as feature-ridden as some commercial packages
Specification
Specification Title | Specification Description |
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Theme/Discipline | Design & Concept SelectReservoir EngineeringWell Operations |
Core Tech | Simulation Software |
Areas of Application
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Unconventional/Conventional Onshore and Offshore | Oil | Gas wells and reservoirs
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Capabilities
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Includes basic versions of software tools that are appropriate for quick-look as well as in-depth analysis.
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Data Analysis
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Production Data Analysis (PDA) is a general rate-time analysis tool which is also the integrator of all the tools.
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Database
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A proprietary production database for storage of all raw production data and | A tools database for storage of all models and forecast data
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Economic Tools
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Scoping/what-if project economics | Companies and Assets Performance Evaluation (CAPE) including PSC fiscal regime
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Engineering Tools
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PVT/Rel Perm Generator | EOS | Monte Carlo Volumetrics | DCA | Monte Carlo DCA | Material Balance | Log Analysis | Recovery Factor Analysis | Pressure Build-up Analysis
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Product
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Hydraulic Fracture Design | THP-to-BHP | EOR Screening | IOR/EOR/Heavy Oil| Artificial Lift Design | Field Development Planning
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Simulation Tools
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Analytical and Numerical Simulators | Streamtube Miscible/Immiscible CO2/WAG Waterflood Simulator | Unconventional Simulator
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Reviews
Technology Readiness Level
The Technology Readiness Level (TRL) indicates the maturity level of novel technologies. Learn more about the TRL scale used by us.
[9/9]
Development
Technology demonstration
Mature / Proven
Relative Business Impact
Solution Deployed By

Company Name
Total Deployments
Comment
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Last Deployment Year