HOUSTON, Nov. 28, 2017 /PRNewswire/ — 3esi-Enersight, the energy industry’s most trusted provider of solutions for integrated strategy, planning and reserves, recently released its latest version of Val Nav™ 2017, the oil and gas industry’s most powerful technical reserves and economics software.
Built by engineers, for engineers, Val Nav™ is a completely integrated reserves management system that unifies company data and simplifies engineering workflows for decline analysis, forecasting, economics, reserves management and opportunity analysis. It features ground-breaking functionality that is changing the landscape of engineering workflows, including first-of-its-kind assisted forecasting.
“The assisted forecasting algorithm in Val Nav™ makes light work of routine tasks, allowing teams to spend less time data mining and more time on in-depth analysis of large data-sets and trends,” says Randy Freeborn, Research Fellow at 3esi-Enersight. “Our customers can run assisted forecasts with confidence. Ninety percent of the time the wells require no change at all and the remaining 10 percent are easily identified and just require a quick tweak.”
Val Nav’s assisted forecasting algorithm lets users rapidly assess economic potential under various scenarios, allowing bulk screening of wells to support precise A&D evaluation, competitor activity assessment, type well generation and more.
“Production forecasts are at the heart of every decision made, from acquisition to abandonment,” said Cameron Zawalykut, product manager for Val Nav™. “Multi-million dollar decisions are riding on the ability to efficiently evaluate oil and gas assets with speed and reliability, so it’s imperative that forecasts are not only timely but also accurate.”
In addition to the industry’s most established assisted forecasting algorithm, the latest version of Val Nav has improved petroleum economic calculation times up to 75 percent faster than previous benchmarks.
Readers can learn more about Val Nav’s assisted forecasting in the guide, “Trusting a 10-Minute A&D Evaluation,” or they can watch a short video about the latest release of Val Nav 2017 here.
3esi-Enersight is the E&P industry’s leading provider of solutions for integrated strategy, planning and reserves, trusted by thousands of executives and technical decision makers in companies that include NOCs, Super Majors, Emerging Operators, investors and consultants. From corporate strategy and planning to operations, capital management and reserves, 3esi-Enersight solutions are deployed in every region of the globe, helping customers make better investment decisions across conventional, unconventional, onshore and offshore assets.
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