Petroleum Engineering & Economics Essentials

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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

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

Specification Title	Specification Description
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