Updated E&D portfolio management tool
AS$ET 3.1 is a new version of an exploration and production portfolio management tool.
The application's combination of ring fencing, Monte Carlo modeling techniques, and a built-in field-development planning tool allows evaluation of economic criteria to provide a portfolio analysis.
It incorporates a screening window that makes it simple to use for noneconomists and novice users. The combination of modeling techniques enables users to extract accurate evaluations, whether for a single project, a group of projects, or a complex global portfolio.
The inclusion of an estimating tool means that input data such as reserves, water depth, and reservoir depth have been analyzed for each basin from this firm's E&P databases. This is the starting point for determining the capital and operating costs for the wells and facilities required.
The dynamic calculation capability means that each change in the input variables affects the cost prediction and hence the value of the project. The users can choose also to apply either Monte Carlo analysis to any of the input and cost parameters or build a decision tree of scenarios to determine expected value.
Ring fencing prevents errors that can occur by evaluating projects singly without reference to wider factors such as fiscal policy at the field and license level. The upgraded Monte Carlo module uses statistical simulation to overcome inaccuracies produced using nonincremental techniques, which ignore posttax scenarios for any potential project within a combined portfolio, the firm says.
A further extension to AS$ET provides a custom template capability that enables users to create reports in their own company-specific template. All subsequent reports can then be created and output in this standardized template format. This feature also supports templates created in non-English languages.
While AS$ET can be used for budgetary and tax planning, it is suited to evaluate E&P projects quickly in today's increasingly volatile market. Fiscal regimes for more than 200 countries are already pre-modeled and can be changed by the user, without the need for programming knowledge, since AS$ET employs a Microsoft Windows interface. Flexibility allows users to make one change and then review the impact of that change on the portfolio (e.g., fiscal or currency, tax, sales price, or exchange rates).
Source: IHS Energy, 5333 Westheimer, Suite 100, Houston, TX 77056
New Ethernet module connects oil field units to internet
Receiving an e-mail alert from your oil field motor drive system can be accomplished with this new intelligent Ethernet module that connects drives to the internet.
NETA-01 works with any of this firm's drives that provide a fiber optic link, communicating via a standard web browser.
The alert, regarding any critical drive functions, arrives to any point where you monitor your e-mail. Or operators can check quickly the performance of any drive or motor. The module gives simple, real-time access, and users can set up a virtual monitoring room wherever there is a PC with an internet connection. This enables remote monitoring, configuration, and diagnostics; and, when needed, control. Via the link, the drive also can provide process-related information, such as load level, run time, energy use, and input-output data (such as bearing temperature of the driven machine, for example).
The intelligent Ethernet module has an embedded server with all the necessary software for user interface, communication, and data storage.
The module also can be programmed to send alerts that are triggered by a variety of operating conditions, with the alerts reaching predefined e-mail addresses. The company says its module also is suited for decentralized applications where the user needs access to the drives from more than one location.
As many as nine drives can be connected to the intelligent Ethernet module.
It is available as an option for new drives, as well as an upgrade for existing systems.
Ethernet allows the integration of process and office environments into a global network. The module supports the usual HTTP, IP, TCP, SMTP, BOOTP, UDP, Telnet, FTP, and Modbus/TCP protocols. Access to the module is secured by a user ID and passwords. Multiple security levels enable the allocation of access rights to normal users and administrators. Even higher levels of security can be achieved using a Virtual Private Network connection.
The module is mounted onto a standard mounting rail inside or outside the drive unit, depending on drive type and configuration. It connects to the drive with fiber optic cables. The size of the module is 4 in. high by 1.5 in. wide by 3 in. deep.
The IP address of the Ethernet module can be freely allocated. The user interface with the drive is created using embedded Java applets. The web page of the module is opened like any other web address. The home page shows a general overview of the system with traffic lights and action buttons to guide the user through the different sections.
Source: ABB Inc., 16250 W. Glendale Drive, New Berlin, WI 53151-2840.
Free brochure discusses liquid scavenger
A new brochure, yours free for the request, discusses the Eliminator liquid scavenger for hydrogen sulfide removal.
These liquid triazine products are based on patented technology that removes hydrogen sulfide (H2S) and mercaptans from process streams to form a stable, liquid nontoxic product that can be disposed of as a nonhazardous waste.
The brochure says the scavenger is one of the most cost-effective means of removing H2S in small applications and for systems where carbon dioxide removal is not required.
The brochure details benefits, chemistry, and reaction efficiencies, and includes a hazardous waste analysis of typical spent solution.
Source: Gas Technology Products LLC, 846 E. Algonquin Rd., Suite A100, Schaumburg, IL 60173.
