The Phoenix Reserves program is one of the main components of the Petro-Soft Phoenix™ Corporate Reserves Management System. This component allows companies to view current booked reserves for all corporate wells and to track changes to those reserves.

The key features of Reserves are described below.

Reserves Hierarchy

As illustrated above, Reserves will allow you to organize your oil and gas wells into the same property structure used by your engineering company. Above the property definition you will be able to add up to ten custom hierarchy levels that could include asset teams, business unit, or accounting areas in addition to the standard province/state and country summary levels.

Booked Reserves

The Booked Reserves tab will provide you with a clear view of the current ultimate technical reserves, cumulative production, and remaining reserves booked for the reserves entity. This data is combined with the by-product ratios and the company share interests to provide a complete summary of gross company reserves for the entity. Reserves can be booked for all user-defined reserves categories.

Reserves Audit Trail

The Revision History tab within the Booked Reserves tab allows you to maintain a complete "cradle to grave" history of reserves changes for each entity. Reserves changes can be tracked by revision category, revision method, book year, book quarter, user, and user remark.

Volumetric Reserves

The Volumetrics tab allows you to maintain a complete history of volumetrically calculated reserves, starting with initial estimates and later changing to actual measured reservoir parameters. Imported or user-defined reservoir property data can be used to provide input parameters.

Decline Analysis

The Decline Analysis tab will display the production forecast generated by the Petro-Soft decline analysis program. Alternatively, the user may generate an ultimate reserves estimate by specifying an exponential, harmonic, or hyperbolic production forecast.

Material Balance

For gas reserve entities, this tab displays the results of gas material balance analysis from the Petro-Soft P/Z program or from user-defined input.

Method Summary

This tab provides a view of the current booked reserves plus the results of the volumetric, decline, and material balance reserves estimates. The results from these various methods can provide unique information.

Custom Categories

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.