Speaking at the OilVoice* Forum this month, Jim Hannon of Hannon Westwood (HW) demonstrated the UK-based consultancy’s new ‘GProfile’ application that allows asset buyers to ‘play out’ the development of potential reserves in a ‘time sensitive, commercially-based profile.’ Hannon described the approach as ‘translating static reserves reported on an individual basis into a dynamic model that includes the interaction of plays, prospects, wells or complete corporate portfolios.’
GProfile provides a plethora of graphical metrics including NPV, EMV, PI, cash flow and forecast production profiles. The GIS based model can be tweaked for different hypotheses as to future oil price, tax take, inflation and cost of capital.
GProfile is loaded with HW’s comprehensive dataset of UK continental shelf (UKCS) data. A prototype is available which allows for live interaction and study of any selected part of the UKCS. HW is about to release ‘GProfile15,’ a new version of the tool that allows analysts to rebuild the model using up to 15 different geological play types. Selected play types can be filtered on companies, pipeline catchments or other configurations to analyze acquisition targets or perform competitor analysis.
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