Forecast Consolidation

A consolidation is a summation of forecasts. This analysis type can only be created at the group level, and is used to sum up forecasts from the level below the active group. Therefore, when creating a forecast consolidation for a set of wells, it must be created from a hierarchical group, or from a custom group. Similarly, when creating a custom forecast for a set of layers in a multilayer well, the analysis must be created at the well level.

Note:   The consolidation option is the only analysis type that is not affiliated with a specific worksheet.

To create a forecast consolidation:

1. Launch a group for analysis.

2. Create or open an IHS DeclinePlus analysis worksheet.

3. Add the Forecast Consolidation analysis to the worksheet. See Adding an Analysis for details.

The Create Consolidation dialog box opens.

There are three options for creating a consolidation:

• Reserve Classification — used when forecasts at lower levels in the hierarchy have been assigned a classification ID. (Select the desired classification for the consolidation from the drop-down menu.) This option is not enabled for custom groups, or for layers within a multilayer well.
• Forecast Name — looks for common forecast names in entities within the group. All available forecast names (excluding reserve classifications) are displayed in the drop-down menu.
• Custom — displays all entities in the group, and a forecast name for each can be selected from the drop-down menu.

4. Select a consolidation type and a classification option; then click OK.

The consolidation can now be viewed in the worksheet.

In addition to being presented on an individual well basis, oil & gas reserve forecasts are often consolidated for properties, business units, province / state, and country. When a consolidation of individual wells is performed, two parts occur: aggregation of the historical production, and consolidation of the forecasts. If the forecasts being consolidated do not have a common start date, the start date of the consolidation forecast is set to the earliest forecast start date, and historical production is used for wells whose forecast starts after this date.

• Aggregation — the summation of the historical production and reference cumulative production prior to the reference date for all entities included.

• Consolidation — the summation of forecasts after the reference date for all entities selected.