Phoenix Reserves Management System

The Petro-Soft Phoenix™ Reserves software solution allows companies to book, track and report their technical reserves, and store and view both historical and forecast production/injection data for all products. Ongoing development will add the capability to perform full corporate and project economics (Version 5.0 due spring 2006), and link to land and accounting databases to provide a fully integrated reserves management system

Phoenix Reserves System Main Concepts and Features

The design philosophy of the Phoenix Reserves Management system incorporates a number of key concepts and principles that are crucial to the operation of the software.

Reserve Categories

Reserve categories are a means of classifying reserves by their certainty of being present. Phoenix allows users to set up reserves categories as they require.

Phoenix Reserves allows you to create your own custom list of reserve and revision categories within the database. Thus, you will be able to match your engineering company reserves categories exactly. You may also add reserves categories that will maintain your engineering company reserves as well as your own within the same database. The defined reserves categories are cumulative rather than discrete.

Revision Categories

Revision categories are a means of classifying changes to reserves. They can include changes due to discovery, extension, purchases, sales, etc. Phoenix Reserves allows you to set up as many revision categories as required.

Complete Product Model

Phoenix can handle the complete suite of hydrocarbon products plus non-hydrocarbons that include carbon dioxide, helium, and sulphur. For the liquid hydrocarbons, Phoenix will accommodate oil, condensate, and natural gas liquids (NGL’s), either as a single product or discrete products that include ethane, propane, butane, and pentanes.

Natural gas can be tracked as wellhead, separator, or residue gas volumes. The separator and residue gas volumes can be derived from a complete set of shrinkage values that can be defined for each entity.

Yield or Volume Based By-Product Tracking

Phoenix will allow each entity to be defined as a yield or volume based entity for the purpose of tracking by-products. For yield-based entities, the gas/oil ratios are used for deriving gas reserves volumes for oil entities. Similarly, for gas entities, liquid by-products volumes can be derived with liquid gas ratios.

If the entity is defined as a volume-based entity, all by-product volumes must be entered as volumes. In this case, the by-product yield values are calculated for information purposes.

Complete Shrinkage Model

Phoenix has a complete set of shrinkage factors for gas that are used for calculating separator, residue, and sales gas volumes. The separator and plant shrinkages can be subdivided to break out fuel/flare volumes as well as hydrocarbon and non-hydrocarbon shrinkage volumes.

Unit Conversions

Units of measure are stored in local units as defined by the state. They can be reported on in local units, or in standard reporting units. Phoenix will perform the conversion. Standard units are based on a pressure of 14.73 and a temperature of 60 degrees Fahrenheit.

At year-end close, Phoenix saves 2 sets of units (local and standard) so you can run previous reports and get them in the original units (even if a state has changed their units in the meantime).

User Codes

User codes are tags placed on properties that let you associate like things. For instance, you could set up a user code of water depth; within water depth, you would set up user values such as 5 feet, 10 feet, etc. You could then select all reservoirs that have a water depth of 10 feet.

User codes are also used to cross-reference to other databases. For instance, you could set up accounting codes as user codes, to cross-reference to your accounting system.

User codes can be attached to properties, groups, or wells.

Advanced Select Feature

The Phoenix Navigator and entity viewer in each module has an advanced query capability that allows users to search for property, groups, or wells in the database using header attributes or user codes. Once found, the entities may be marked as selected, or highlighted to create a list of entities for reporting or evaluation purposes.

The queries that are created may be saved for future use and may be shared with other users.

Distributed Database Technology

The Phoenix database incorporates distributed database technology that is key for international global producers. Using the Phoenix proprietary database design and Oracle® replication technology, corporate reserves can be maintained concurrently in a central master database and on a number of local distributed databases that are at different field offices located nationally or internationally.

Using the combined technology reserves, database changes are pulled/pushed from local copy databases into the central master database on a schedule. All changes are updated to the Central Master Database. If required, changes may include approval and endorsement status flags.

Phoenix Security

The Phoenix Reserves System incorporates security at both the software and database levels. The Phoenix software incorporates standard User ID and Password access. On the database level, the Phoenix database incorporates Oracle® or MSDE security options that can be used to limit the view of the total reserve database for any user.

Typically, the restricted view is accomplished by defining one of the reporting hierarchy levels as the controlling level. Once a level is defined, the Database administrator can give users read, write, or view access to specific subsets within this level. For instance, if the reporting level was defined at the Organization level, then users can be given access to one or all of the defined organizations.

Capital Projects

Corporations often have a requirement to track reserve additions associated with capital expenditures. The Capital Projects feature in Phoenix allows users to define significant capital projects of various types and then assign specific reserves changes against these capital projects. The project types might include enhanced recovery projects, facilities additions, or drilling programs.