WellSpring™ is an Integrated Petroleum Economics Software System

WellSpring™ is an integrated petroleum economics software system to help oil and gas companies quantify the value of their exploration and development projects. WellSpring allows engineers and planners to build detailed production and cash flow forecasts that include drilling and gathering system limitations for both conventional and unconventional production.

Most petroleum economic evaluations today are performed using the traditional approach of modeling each well on a case-by-case basis and then consolidating these into a total company or project view. Enersight’s clients see this as an unnecessary simplification given today’s computing power.

Enersight’s WellSpring petroleum economics software brings a new approach to petroleum economics modeling. WellSpring is the first application that integrates well production, gathering system, facilities infrastructure and economics into a single application. It is also the first petroleum economics system to allow you to create a visual representation of your development plan. Integrated project scheduling within the petroleum economics model is yet another benefit of using WellSpring.

Quantify the impact of project timing on the overall project profitability by building the project as a series of interrelated tasks such as site construction, front end engineering, regulatory approval and plant construction.
Schedule the availability of resources, such as rigs or frac spreads, to get a realistic view of the pace of development.
Automate the expansion of infrastructure capacity, such as steam generation or natural gas compression, so that the size of facilities can dynamically track the pace of development.
Summarize the schedule as a project Gantt chart, allowing you to visualize all aspects of the project construction.

The WellSpring model is especially powerful for petroleum economics in the areas of large integrated projects or resource plays, such as SAGD and Shale Gas. For SAGD (Steam assisted gravity drainage) heavy oil projects, WellSpring allows you to model all of the wells and facilities. Wells can be scheduled automatically to fit within the constraints of the oil and steam handling. The SOR (steam oil ratio), a key economic parameter, can be tweaked to maximize the profitability of the project.

In the area of Shale Gas development where large well counts are the norm, WellSpring can calculate the total deliverability of the system on a monthly basis and automatically schedule wells to be drilled to maintain the current system design capacity.

WellSpring is the first petroleum economics software delivered as a pure web application (SAAS -Software as a service) providing the power of cloud computing to a company’s economics system. This means that the back office support and infrastructure required to run the application is part of the service - greatly reducing the overall application cost*. Clients need only a web browser to run their Petroleum economics plan.

For petroleum economics problems, WellSpring over the web offers a thin, light, application, accessible anytime and anywhere, coupled with powerful back-end computational servers to provide the power to solve today’s large complex, oil and gas modeling requirements.

A final key benefit of WellSpring’s unique petroleum economics is the aspect of collaboration. The WellSpring projects can be remotely accessed simultaneously by multiple people, providing easy collaboration across business locations without having to replicate the data. At the heart of a WellSpring project is a visual model that promotes understanding of the development plan and makes it easier for new personnel to understand the petroleum economics model.

*According to Phil Wainewright, analyst with Summit Strategies and founder of ASPNews.com, the cost of implementing conventional enterprise software is four to five times the cost of the original license.

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