Assess exploration opportunities
GeoX exploration risk and resource assessment software provides easy-to-use and scalable decision support for risk, resource, and economic evaluation of exploration projects and portfolios. This enables you to perform consistent, unbiased, and accurate assessment of your exploration opportunities in all exploration environments and risk scenarios.
Rapid evaluation of leads and prospects
With GeoX software, you can assess risk and resource opportunities in individual or multiple reservoir compartments. Scenarios are summarized in an overall assessment through probabilistic aggregation. Quick screening of new opportunities honor all available information—as the opportunity matures and your data improves, the analysis is expanded to capture all relevant uncertainties with a rich set of best-in-class volumetric and risk modeling options.
Assess true value of opportunities
Full-cycle value modeling capabilities enable the modeling of staged and contingent exploration and exploitation activities. The full-cycle model mirrors the uncertainties, risks, and dependencies captured in your model of the subsurface; provides rapid analysis of simple opportunities; and supports effective analysis of complex clusters of opportunities. Activity-based modeling of the exploration, pilot, development, and production phases with the full-cycle tool may also be used to assess the yet-to-produce potential of unconventional resource plays.
Optimal portfolio composition
GeoX software lets you
- assess your corporate portfolio to determine your forward exploration plan
- see how you can accommodate commitment wells, while optimizing overall exploration portfolio performance
- look at a cluster of exploration opportunities around a hub or in a concession.
The software also gives you a complete picture of how your portfolio stacks up to your objectives and the possible range of outcomes in terms of after-tax NPV and future annual production.
Conventional workflows for unconventional resources
The challenge is to transform resources into viable, economic reserves. GeoX software provides a common assessment framework for both unconventional plays and conventional exploration targets—shale gas/oil and coal bed methane options are available specifically for analyses of unconventionals. A key element of the full-cycle tool is the modeling of uncertain well performance, combining geological and engineering risk to accurately assess unconventional resources.
Track and manage resources
The ultimate goal of exploration and acquisition of prospective assets is to replace reserves. Managing, tracking, and reporting how resources mature to reserves is a central element of communication with internal and external stakeholders. GeoX software includes a fully compliant (to SPE/AAPG/WPC) petroleum resource management system (PRMS) resource tracking system. Features such as mixed stochastic and deterministic classification, and automated booking provide the basis for an efficient and transparent resource-management workflow.
The GeoX database provides a common, shared environment for all GeoX tools and applications, facilitating ease-of-use and data-sharing across tools, projects, and disciplines. Functions for extensive knowledge capture and collaboration promote effective use and learning. Versioning analyses preserve the life cycle of your assessments, while pre- and postdrill comparisons provide an effective platform for assessment-performance tracking. A comprehensive and flexible permissions scheme allows you to control access, editing, and approval at all levels in the database.