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PlanRA - Software for Drilling Portfolio Optimization
PlanRA is a comprehensive software tool designed for the upstream oil and gas industry, focusing on the aggregation and analysis of drilling portfolios. It allows users to assess the range of possible outcomes for resources, exploration costs, and values by acquiring and evaluating prospects from databases such as RoseRA or other evaluation software. The software offers features for modeling and evaluating geologic and commercial resources, costs, values, and the number of predicted discoveries. PlanRA enables users to compare these prospects using cross plots and over 100 metrics, including resources and success chances. It introduces tools like Traffic Light Matrix to rank prospects by value or resource goals and supports the creation of hubs and clusters for shared chance dependence assessments. The software can model emissions and sequestration, aiding in selecting portfolios that align with company goals by considering both financial metrics and environmental impacts.
Aggregate Resources, Value and Chance
- Import RoseRA or other tools’ prospect resources and chance including multiple zone aggregates
- Simulate probabilistic exploration costs, success case value, and monthly production rates
- Rank prospects based on multiple criteria
- Compare alternate portfolios on multiple metrics and goals
- Model hub/clusters with chance dependency, commercial thresholds and Dry Hole Tolerance
Purpose
PlanRA aggregates selected prospects to show the range of possible outcomes for resources, exploration costs, and value.
Prospect Database
Prospects can be bulk loaded into PlanRA from RoseRA or other prospect evaluation software. Additional information including metadata, costs, value and monthly production and can be optionally added. The Build and Manage function enables the selection of prospects on a wide range of descriptive and numerical criteria for evaluation in a portfolio.
Portfolio Evaluation
Modeled prospects can be evaluated on multiple criteria including geologic and commercial resources, costs, value, predicted number of geologic and commercial discoveries, and time series outputs for key metrics.