iStore’s reserves management solution provides insight into all stages of field maturity.
iStore’s Quick Reserves Analysis (QRA™) solution enables rapid classification and assessment of 1P, 2P, and 3P reserves, including producing, behind pipe, and undeveloped reserves. In addition to quickly classifying, estimating, and storing reserves data, reserves information can be shared with team members through tabular and graphical user interfaces in a secure web environment. This web-based solution produces reports and provides map views that aid in the recognition, maintenance, and management of a company’s oil and gas reserves at the reservoir, well, field, asset, region, and enterprise levels.
QRA incorporates an expert system that is based on the SPE/AAPG definition of reserves classification. The system is designed to generate standardized classification of proved, probable, and possible reserves based on answers to a series of yes-no questions. This powerful feature enables standardized reserves classification, by multiple reserves specialists across an organization. The system captures and maintains reasons related to the different classification of reserves and allows the posting of notes, messages, and reports, all of which are archived and can be reviewed as needed for future analyses. This archive feature facilitates the review and determination of changes in reserves classification and reserves estimates over time, as a result of changes in product prices, operating expenses, taxes, and activities such as drilling reworks, recompletions, and other well and field related activities. Reserves-related data can also be exported and shared with reserves certification companies, improving the quality and speed of data transfer and the certification process.