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READDECL.DOC
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1990-11-08
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OILDECL & OILPROJ
Copyright (c) 1990, H L Hendrick , all rights reserved.
H L Hendrick is a member of the Association of Shareware
Professionals (ASP). ASP wants to make sure that the shareware
principle works for you. If you are unable to resolve a
shareware-related problem with an ASP member by contacting the
member directly, ASP may be able to help. The ASP Ombudsman can
help, but does not provide technical support for members'
products. Please write to the ASP Ombudsman at P.O. Box 5786
Bellevue, WA 98006 or send a CompuServe message via easyplex to
ASP Ombudsman 70007,3536
OILDECL is a shareware microcomputer program which allows the
user to analyze declining production from producing oil wells and
to make projections of future production, net cash flow and dis-
counted net cash flow based on that analysis.
OILPROJ is a microcomputer program which allows estimates of
production from new prospects which are not in production at the
time of the estimate by using known factors from wells in the
area.
Use OILDECL to determine intercept and decline factors from wells
in the area then use OILPROJ and substitute these factors in the
program to determine production, cash flow and discounted cash
flow.
Minimum requirements are a one disk drive microcomputer with 256K
memory and an 8086/8088 processor using MSDOS 2.xx or compatible
computer. A printer is optional.
In order to use the program, format a new blank disk and install
your operating system on it. Insert the program disk in drive a:
and copy the program to the new formatted disk in drive b:.
Store the program disk furnished by H L Hendrick and use the disk
you have created as your program disk.
Insert your program disk in drive a: and boot up. Follow the
menu prompts.
The following entry is required:
1) Enter Operator:
2) Enter well name:
3) Enter month of 1st data point entry:
This entry must be a three letter month designator and may be
entered in lower or upper case letters. i.e. January is
entered as jan or JAN.
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4) Enter year of 1st data point entry:
This entry must be a two number entry of the last two numbers
of the year of the 1st entry. i.e. 1984 is entered as 84.
5) Enter gross price of oil:
Enter price in dollars. i.e. 16.66.
6) Enter annual change in price:
This entry is the annual percentage of change of price
expressed in decimal fraction.
7) Enter state severance tax:
Must be the per-cent entered in decimal fraction.
8) Enter monthly operating expense:
Must be entered in dollars. i.e. 2000.00.
9) Enter annual change in operating expense:
Must be annual per-cent change in operating expense entered as
a decimal fraction.
10) Enter division order interest or revenue interest:
Must be entered as a decimal fraction.
11) Enter working interest:
Must be entered as a decimal fraction.
12) Enter annual interest rate to be used for discounting:
Must be entered in a decimal fraction.
The screen will clear and the prompt "Enter number of data
points" will be displayed.
This entry is the total number of monthly production data points
which you are going to input to generate the decline curve equa-
tion.
You will be prompted to enter the monthly production for each
data point entry until you have entered all data points. A zero
is not an acceptable entry. If a zero production month is in the
sequence of data points, adjust the sequence and eliminate the
zero month entry.
The method of least squares is used to derive equations for hyper-
bolic and exponential decline for the entered data.
The selection menu will be displayed as follows:
Selection Menu
0-Exit
2
1-Hyperbolic
2-Exponential
3-Economic Limit
Make your selection based on the type of decline exibited by your
well.
The number of projections is requested. Select the number you
want. The first projection displayed will be the month after the
last data point entry.
Each month, year, barrels, net revenue and discounted revenue
will be displayed. Annual totals, cumulative totals and the equa-
tion used in the calculation are displayed.
A print out option is requested.
If the economic limit option is selected, the type of decline is
requested. The program will run until the net revenue becomes
zero.
A print out option is requested.
Once the economic limit begins running, the program must run un-
til it finishes or you enter Control break.
All calculations are based on monthly production using end-month
values.
If the per-cent change of any requested value is negative a minus
sign must precede the numerical entry. These values are converted
from the annual entry to monthly values for use in the program.
The discounting and price change is done on an end-month basis.
Recursive operation of the program is supported with a menu selec-
tion option to change any or several of the input values.
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