R3 Economics is a powerful software program that simplifies data management, reserves forecasting and business decision modeling challenges faced by oil and gas companies. It provides a secure and flexible economics solution that ensures compliance with PRMS as well as the most rigorous governing body standards.
- Empower decisions from asset teams to executives
- Provide unified access to asset economics, reserves, forecasts, reports and drilling schedules
- Create economics for acquisition and divestiture, partner, predrill and completions analysis
- Quantify and assess portfolio uncertainty to achieve greater business performance and profitability
- Leverage the advanced power of analytics applications to enable informed decisions
- Design and automate workflows to drive productivity
For over 38 years the high performance economics and database engine inside R2R has been trusted to deliver accurate results by some of the world’s largest oil companies. The redesigned user experience adds new levels of customization, productivity and analytic analysis in reserves management and reporting.
R3's flexible Multi-tree can track assets and scenarios by:
- Location data
- Asset or facility info
- Custom fields
- Existing or custom economic models and scenarios
Forecast & DCA
Are your volumetric calculations consistent throughout your organization? Do you have all the tools you need to compare results from year to year? Does your DCA tool facilitate fast, precise and predictable editing of your decline curves?
Our intuitive, user friendly decline curve analysis tool will help you attain new levels of productivity.
- Review previous forecast vs actual production
- Create conventional and unconventional decline curve forecasts based on:
- Doung, hyperbolic, stretched exponential and more
- Multi-segment production forecasts
- Auto reversion from exponential
- Quickly switch between multiple analysis templates
- P/Z, rate cum, water cut, ratios, custom templates and more
- Interactively analyze economic limit, EUR and remaining reserves
- Improve forecast confidence using diagnostic plots multiple DCA methods
- Create quick normalized type well
- Let the type well wizard simplify stochastic generation of probabilistic type curves
Do you know the full value and potential of your company's assets? Are you able to fully manage and appraise your contingent and prospective resources?
With R3's stochastic reserves analysis understand the upside of your company reserves and resources from lease acquisition to completion.
Scenarios & Risk
What are the key risk factors which impact your company's projects? How could prices, costs, etc. derail your plans? How can you get them back on track?
To help you understand key risk factors R3 includes a complete set of scenario, stochastic and risk modeling capabilities.
- Assess and navigate results with NEW multi-scenario tools
- Understand the uncertainty related to your decisions.
- Evaluate pricing models
- Create risked financial and production forecasts and evaluate project KPIs.
- Tools to design customized sensitivity or stochastic scenarios
- Compare assets scenarios with incremental analysis
- Perform decision tree analysis
How do you gain insights into your plans and decisions? Can you quickly monitor or analyze projects and KPIs at any level of your organization? With R3 just query or click the asset trees to select, then interactively organize the data to be presented in charts, forms, spreadsheet and customizable report templates.
From reports for regulatory agencies to fast interactive graphing, R3 delivers the charts and reports you need.
- Generate discounted cash flows
- BFIT / AFIT - US, Canadian and International
- One-line summary with asset sorting
- Report incremental economics
- Analyze sensitivities
- Create partner reports
- Create custom reports and graphs
How do you trust the reserves you are signing off on, especially when the data is copied from multiple sources and key data is spread across the organization in spreadsheets? How do you make meaningful data connections to your financial systems?
R3 provide an enterprise quality database trusted by the largest national oil companies. It is fully scalable to fit your organization.
With customize fields to match unique capital, operating cost from your corporate accounting system.
Tools for data quality, security and change tracking to provide transparency and confidence
Multi-user and standard workflows can be deployed across corporation
Fully customizable security, workflow automation, data entry forms, database fields, ODBC linking and SQL scripting
R3 includes an industrial strength high performance database. Current customers manage over 20,000 assets in R3.
R3 delivers connectivity, tracking, decision documentation and 3rd party integration.
- Easily define custom costs, investments, product phases and partnerships
- Customize economic input forms and create workflow automation
- Create custom scripts for data IO, automation and modeling using the ANTLR based open scripting language.
- Directly link to financial, production or other corporate SQL databases
- Implement server configurations with commercial SQL databases or R3’s proprietary database.