Build your reserve economics workflow with confidence.
Manage your assets from project to corporate level.
R3 Economics is a reliable choice of engineering, evaluation and reserves system. Designed from an engineer’s perspective; it offers robust Decline Curve Analysis tools, fast economics evaluations with user-defined scenarios, and a highly flexible and customizable reporting system. It also provides additional tools, such Break Even Analysis and built-in Monte-Carlo simulator for stochastic analysis.
The economic analysis functionality provides consistent and comprehensive modeling to ensure compliance with PRMS standards. The reserves functionality provides tracking of period-to-period changes to your reserves in all PRMS categories, for SEC, EIA-23, and internal reporting purposes.
Data Connection
Configuring R3 is extremely flexible in that the Client, Server, and Database functions may be run as a single application, two processes or three separate processes with a minimal amount of configuration.
Scenario Comparison
Quickly run economic and sensitives by using Scenario in Production Forecast; Compare different scenarios’ results numerically and graphically at glance.
Reporting
Simple user-defined reporting adhering to all industry standard formatting; with built-in report templates, flexible time frame selection and output options, plus a customizable report builder.
R3 ECONOMICS
Product Features
DECLINE CURVE ANALYSIS
DECLINE CURVE ANALYSIS
From conventional to unconventional, R3's advanced DCA Graphic tool includes several pre-built templates for your use. Users can easily edit or customize these templates to meet their unique needs. Multi-Segments, User defined EUR back calculation, Scenarios and shortcut keys are the must-have tools for a efficient and successful evaluation.
Probablistic Approach
Method - Monte Carlo
Probablistic Approach
Method - Monte Carlo
Monte Carlo simulations are used in performing Stochastic analysis, which makes it possible for R3 to perform thousands of risk calculations for thousands of random portfolios, very quickly. Generating P10, P50 and P90 values for not only the reserves numbers but also the economics. Deliver reasonable certainties with confidence.
Break Even Analysis
Allows users to calculate multiple break- even points based on user defined parameters such as ROR, ROI, NPV and remaining reserves, and much more.
Break Even Analysis
Multivariate Sensitivity Analysis
Multivariate Sensitivity Analysis
Allows users to calculate multiple break- even points based on user defined parameters such as ROR, ROI, NPV and remaining reserves, and much more.
WHAT OUR USERS SAY
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Discover R3, the world’s most reliable and efficient petroleum economics software: Modular approach
R3 Economics
R3 Economics is the core product of our modular based system. This industry-leading oil and reserves asset manager delivers production forecasting, and the financial information essential for risk analysis and optimizing cash-flow from drilling programs. SEE MORE
Professional
R3 Professional is our fully-integrated platform for users to perform evaluation, analysis and management of reserves economics. This solution is flexible, customizable and is focused on the client’s workflow. Rapidly access the opportunity and collaborate easily with this first-choice engineering solution. SEE MORE
Model Builder
R3+ Model Builder empowers our users to build their own fiscal regimes model or migrate the current solutions from conventional sources, such as Excel. A content-rich Fiscal Regime library, including PSC, Corporate Income Tax, Royalty Tax, concession, service contract and more. SEE MORE
Visual Analytics
R3+ Visual Analytics helps automate workflow through data collection, preparation, and by populating different metrics or KPIs onto the dashboard. Easily and intuitively provide insights with interactive query, sort, and forecast capabilities. SEE MORE
Volumetrics
R3+ Volumetrics specializes in volumetric well planning; allowing you to calculate in-place volumes of target gas and map drilling plans over time. Generate planned well production forecasts and ensure maximum revenue generation from your valuable assets. SEE MORE
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