Oil and Gas Forecasting Software: How to Combat Complexity

May 31, 2023

Complex and siloed tasks present distinct hurdles across the energy sector. ComboCurve oil and gas forecasting software can help.

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Enter ComboCurve to tackle siloed oil and gas forecasting software workflows head-on. Let’s look at three prominent examples.

1. Disparate Methods vs. Standardized Workflows

Navigating complex processes in large energy companies can be daunting. ComboCurve oil and gas forecasting software offers the ideal solution designed to untangle complexity. It provides standardized workflows unifying forecasting, type curves, economics, scheduling, and net zero planning in one platform.

If you touch any of these disciplines, you know the struggle of trying to collaborate while juggling disconnected methods. Teams end up using various declines, b Factors, and pricing assumptions. These factors get passed to the next engineer who can’t make heads or tails of the results because their team uses an entirely different oil and gas forecasting software. This confusion leads to suboptimal decision-making, not to mention plenty of frustration.

With ComboCurve, you can configure uniform forecasting, type curve, and economics settings, then push them to users. You get everyone on the same page working from the same information. This reduces redundancy, miscommunication, and wasted time.

When teams spend less time managing and navigating dissimilar workflows, they can focus on core tasks and achieve goals more efficiently.

2. Disjointed Carbon Processes vs. Proactive Planning

In the energy industry, carbon management and reduction have traditionally been reactive, focused on emissions after they occur. But you can’t execute strategic planning to reduce emissions on future projects this way.

It’s time for a new perspective and proactive strategies.

With ComboCarbon, you can forecast carbon emissions alongside production and reserves. This gives you ways to visualize how production facilities impact emissions, costs, and reduction targets during the design process.

You can put raw data towards emissions targets and choose the most profitable path forward. With accurate oil and gas forecasting software, operators can decide and act proactively. The result? You transform corporate platitudes into actionable data you can use to reduce emissions.

3. Training Gaps vs. Seasoned Staff

Another problem comes from onboarding new staff. Legacy oil and gas forecasting software don’t provide comprehensive training programs. This creates significant knowledge gaps that force seasoned staff to shift their attention. They spend time training newcomers instead of doing high-value work. It’s inefficient and slows down operations.

The solution lies in using tools that come with user-friendly training programs. These tools help new hires learn essential software quickly. They don’t need to rely on experienced colleagues. This frees up your seasoned staff to focus on critical tasks, boosting overall operational efficiency.

Fast Tracking Success: The Speed Advantage of ComboCurve & More

ComboCurve offers another substantial benefit – the Auto-Forecasting feature. It cuts down time spent on forecasting tasks significantly. In contrast, manual processes in other oil and gas forecasting software tools, like ARIES, can take days, depending on the project size and engineer workload. This allows engineers to focus on critical tasks, improving productivity across the board.

If you are using traditional tools, the great thing is you don’t have to switch all at once. You can use ComboCurve’s forecasting engine and ARIES simultaneously. With this approach, you can use the advanced features of ComboCurve without giving up familiar tools right away. We also bring a fresh perspective to scenario tables. Unlike ARIES which focuses on individual wells, we provide an overview of all wells. This broader view helps teams analyze data more effectively, creating more informed decisions.

Lastly, data security is a paramount concern for all large operators searching for reliable oil and gas forecasting software. That’s why ComboCurve is SOC 1 Type II and SOC 2 Type II certified. Additionally, your account is secured with Two-Factor Authentication (2FA) and Single sign-on (SSO). Plus, your data is fully encrypted at rest and in transit. Robust security measures are baked into the design so you know your sensitive data is well-protected.

End Note: The Unifying Power of ComboCurve

As we have discussed, among large operators, the energy sector is marked by complexity and rigid compartmentalization that often hinder efficient collaboration. ComboCurve offers a refreshing solution with standardized workflows and a platform that’s accessible to everyone. This integration nurtures better teamwork and enhances productivity. Moreover, it takes a proactive stance in carbon management, pushing the focus from reporting to planning. This change in perspective allows for better preparedness and strategic decision-making. In addition, ComboCurve bridges the gap in training for new hires, freeing experienced personnel to devote time to high-value tasks.

Continuing to reap the benefits of ComboCurve, its Auto-Forecasting feature significantly cuts down time spent on forecasting tasks, creating room for engineers to focus more on their essential work. The flexibility offered by ComboCurve means you can continue using familiar tools while also enjoying the advanced features of this new platform. For data analysis, ComboCurve’s all-wells view facilitates a broader perspective for more effective decision-making. Above all, ComboCurve has made data security a core feature, ensuring your sensitive data remains protected at all times.

In conclusion, embracing ComboCurve equips large operators not just to solve present challenges, but also to discover new avenues for efficiency and strategic growth. Sign up for a demo to see how ComboCurve’s premier oil and gas forecasting software can transform your operations.