PHDwin V3.1.19 is live.
View our Release Page Need the IT installer? Get the .MSI
Happy Holidays! We’re grateful for your support and wish you a joyful season.
View our Release Page Need the IT installer? Get the .MSI
Happy Holidays! We’re grateful for your support and wish you a joyful season.
Hello, my name is Jeff Day and I have the pleasure of working as an Engineering Analyst for LLOG Exploration in the Houston office.
At LLOG I focus on helping the Reservoir Engineers, Geologists and Financial Planning group through a combined effort build solid project economic models for our assets in the deepwater Gulf of Mexico.
At LLOG, we used to build databases by using PHDWin V2, but we thought we could do things better, which is why today I am going to tell you about PHDwin V3.
When we first started using PHDWin V3 we at LLOG had several challenges with platform case conversions and issues with automation of variable fee structures and price deck sensitivities.
We also thought that the conversion process was going to be a huge hurdle to overcome and QC’ing the data would be a significant time challenge as we navigated the new format.
However, we soon learned that V3 was able to simplify our platform case usage and automate more features that change depending on pricing for oil and gas PHA fees, royalty relief changes due to production milestones, oil and gas transportation rates based on pricing and lateral capex scaling and ORRI/NRI conversions due to financial trigger timing.
>> Since adopting V3 we have been able to easily run multiple price scenarios with ease due to the automation process which is important to our organization because breakeven price scenarios are paramount to the success of our projects.
> >We have also improved our editing capability with the grid editor. The available editing tables are at your fingertips and have reduced our input times and potential for errors on our cases.
> >Moreover, I think PHDwin V3 is a great fit for offshore operators because it helps us with improved GEL’s, allocations across assets and economic scenario modeling for large multi-well projects or simply a one well subsea tie-back which is an improvement over competitors and existing reserves economics solutions that are currently available.
abases by using PHDWin V2, but we thought we could do things better, which is why today I am going to tell you about PHDwin V3.
I can say that my experience with TRC Consultants has been second to none and I can speak to their expertise, dedication, and client service focus. It is comforting to know that when I have a issue, I can contact TRC and a knowledgeable person will answer the phone and work with me to not only resolve the problem but also make sure that I understand why it is the best solution.
I can say that my experience with TRC Consultants has been second to none and I can speak to their expertise, dedication, and client service focus. It is comforting to know that when I have a issue, I can contact TRC and a knowledgeable person will answer the phone and work with me to not only resolve the problem but also make sure that I understand why it is the best solution.
After I attended the V3 training I had many questions once I started working on conversions and with the V2-V3 connect options. Their desire to make me comfortable with V3 immediately showed their passion for the software. They went above and beyond to help me understand their methodology and the importance of proper inputs for the best outcomes.
Beyond the expertise at TRC Consultants, Jonathan, David, Dre’, Josh and Sebastian have always made me feel like PHDwin is committed and dedicated to helping serve LLOG Exploration.
I believe that TRC Consultants is not just a software vendor, they are a people company with a focus on client service. The best example of this that I can share with you is after attending the V3 training I had many questions once I started working on conversions and with the V2-V3 connect options. I reached out to Jonathan and the team in Austin, and they invited me to come up and work with them in their office. Ultimately, I drove up there and spent two days with Jonathan and David to work through my questions and issues and gained a better understanding of how the V3 had improved my ability to create better models. I was impressed that they so willingly took the time to meet with me and help me obtain a proper workflow in the projects.
At LLOG we believe PHDwin V3 is improving our reserves management operations by:
1: Increased accuracy in reporting and exporting the data for further analysis
2: Decreased labor hours for price deck changes, variable PHA fees, multi-scenario runs and capital investment inputs.
3: Ability to improve automation and data flow resulting in more robust data management and less opportunity for mistakes.
Our V3 adoption has enabled us to automate multiple field variables, streamline our reporting process, reduce opportunities for errors and increase confidence in financial results, moreover, TRC Consultants has helped us implement V3 to enhance our operations, investments, and company efficiency in regard to reserves management and offshore asset reporting.
If you are considering Version 3, please feel free to reach out to me on LinkedIn or email me at jeff.day@llog.com to hear about my experience firsthand. Moreover, I strongly urge all operating companies, especially offshore operators hoping to achieve better workflow evaluations through streamlined automation.
We at LLOG appreciate and support PHDwin’s mission to create software that streamlines workflows, optimizes decision making processes, and TRC Consultant’s focus to drive success for oil and gas professionals and the firms they work for.
