Engineers and technicians forecast production to plan for the future, budget revenue, inform partners and investors, estimate reserves, plan for new wells... and the list goes on.
Most of this is painstakingly done in static Excel spreadsheets. These are slow to update, tough to iterate on, and the results are not interactive or easy to share with others.
Production forecasting is an important part of your job, but it doesn't have to be a time consuming part!
Take advantage of Spotfire's interactive, user-friendly features to quickly create, visualize, and adjust forecasts on the fly!
Check out the demo
This video shows forecast model in action - the exact same forecasting model you'll build in this training. See how you can adjust the Arps decline curve parameters such as the initial production rate, decline rate, and b-factor.
After completing this training, you'll be able to:
>> Quickly generate forecasts by modifying custom-built input parameters
>> Write simple but powerful TERR scripts
>> Setup and execute Data Functions
>> Create and adjust Property Controls
>> Insert Calculated Columns
>> Export forecast data for external reporting or analysis
>> Understand how this works "under the hood"
>> Fix the model when something breaks
>> Tweak and customize it for your exact needs
>> Apply the concepts you've learned to create other analytic tools
>> Increase your Spotfire knowledge
>> Impress your boss and colleagues
(and frustration)
I’ve spent the time building this Spotfire model, re-working it, and making sure it can be built quickly and intuitively. Take advantage of the time I’ve spent, and let me show you a fast, simple way to setup a forecast model in Spotfire.
It takes less than an hour to go through this training. Do yourself a favor: skip the tinkering and learn it today!
1.1 Visualizing Production History
1.2 Normalize the Data
1.3 Explanation of the Forecast Equation (Decline Curve Analysis)
FREE PREVIEW2.1 Creating Custom Input Panel with HTML
FREE PREVIEW2.2 Creating Property Controls
2.3 Fitting a Curve to Historical Data
2.4 Using TERR and a Data Function to Create a New Table
2.5 Verifying Data Function Output
2.6 Automating the Data Function
2.7 Forecasting Future Values with the Model
2.8 Inserting Calculated Column: Fit or Forecast Values
3.1 Visualize Forecast Results on the Fly
3.2 Curve Fitting and Forecasting Data
4.1 Exporting the Forecast Values
4.2 Combining Multiple Forecasts
4.3 Visualizing the Combined Forecast Results
4.4 Linking Filters from 2 Data Tables
5.1 Updating the Model with New Input Parameters
5.2 Updating the Data Function to include Decline Parameters
5.3 Exporting Results from the Updated Model
5.4 Summarizing the Decline Curve Parameters for each Well
Summary
Kyle LaMotta
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