Economics evaluation freeware is newest download in series

Ryder Scott has just released its "quick look" economics evaluation program that is downloadable from the company’s web site at www.ryderscott.com. This free software is a customized application for Microsoft Excel 97.

This latest program is the third in a continuing series of periodic releases available to the industry over the Internet.

The economics evaluation software gives the user a simple, fast tool to compute screening economics for prospects, evaluate workovers and recompletions and run preliminary lending economics.

Although this application is used by Ryder Scott as a quick-look, screening tool, the firm does not use it for in-depth economic analyses, but instead relies on a comprehensive, in-house program carefully developed over many years.

"In short, this easy-to-use program can be beneficial to explorationists, production companies, consultants and financial institutions," said James Latham, the Ryder Scott engineer who developed the application. The add-in program enables the user to run complete reserves and cash-flow projections for individual wells or properties. Users can select customary (U.S.) or metric units of production and different international currencies, making this a universal application.

The economics evaluation software computes up to four distinct product streams, two oil and two gas, and secondary product streams based on gas-oil ratios or condensate yields. The program provides options for exponential, hyperbolic, harmonic and manual product projections. It also uses "stream arithmetic" in its computations, which basically allows a user to subtract or add together streams.

Latham designed the program to be flexible by including multiple expense-, tax- and investment-parameter options as well as a provision for abandonment costs. "All the capabilities of this program take advantage of the user friendly graphics interface provided with Excel 97 together with the powerful automation available through Visual Basic add-in procedures," said Latham.

The download file is self extracting and compressed. The "zip" file includes the program files, installation documentation (EconInstall.doc) and a complete user manual (EconManual.xls). Installation involves loading files in the Excel start directory. Ryder Scott will assist new "downloaders" with installation and basic startup procedures. However, users are encouraged to thoroughly review installation procedures and user manuals before contacting Ryder Scott.

All three freeware programs are posted on the Ryder Scott web site. They initially require passwords to enable after downloading. Ryder Scott will e-mail a password to the user after receiving information from the form that is filled out and submitted by the user.

A material-balance application currently posted on the site automatically calculates original gas in place (OGIP) and estimated ultimate recovery (EUR). A posted gas-pressure analysis program is used to evaluate the performance of producing gas or gas-injection wells. It calculates flowing bottomhole pressures (FBHP), associated back-pressure equation parameters, absolute open flow (AOF) potential and static bottomhole pressure (SIBHP).

Ryder Scott plans to continue offering freeware on a periodic basis that can be downloaded from the web site.

Editor’s Note: Ryder Scott does not guarantee or warrant the accuracy or reliability of this software and disclaims its fitness for any particular purpose.

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