Revolutionize your workflows with Val Nav 6.3
Like a gyroscope helps keep a pilot on course, the new Val Nav will help keep your forecasts, reserves and capital on track for maximum ROI.
Val Nav’s evaluation, forecasting and reserves management tools are the clear industry choice. With well over 1,000 users in more than 250 North American oil and gas companies, evaluation and finance firms, Val Nav continues to be the best way to navigate today’s changing oil and gas landscape.
Here is a look at some of the great new features in our latest version, Val Nav 6.3:
Build and configure “calculated plans” to help you report on the incremental differences between plans, much like we already do with reserves categories. Once you have configured a calculated plan, you can select it along with any other plan when reporting. Note the new Calculated Plans tab in the Plans dialog (Tools > Global Project Data > Plans). By default, Value Navigator makes a Calculated Plan for every plan that is linked to Working. These default Calculated Plans calculate the incremental difference between the child plan and Working.
Exciting new ways to access data in Well Views
Click on any column header in Well Views to bring down a filter dialog that allows you to quickly select values to filter to, or to build a custom filter for the column.
While you’re in Well Views, notice a few new columns in the Well Views|Declines tab: “Segment Index” (which decline segment in the well you are viewing) and “Is Last Segment” (displays “Last” if the segment in the row is the last in the decline forecast).
Integrated Decline Workspace
We have taken our Decline Workspace several steps further in 6.3. All forecasts are now integrated into your major technical workflows in their own tab. Predictions|Workspace is now the place to evaluate decline forecasts and assign them to Reserves Categories and Plans. Another exciting addition to this feature is the ability to view archived data and type well forecasts. Great ways to compare forecasts and track your changes over time!
Ring Fence Calculations
Model ring fence economics for analysis of BC NPR and Oil Sands Projects royalties by grouping entities into a ring fence entity (shift-select entities from the hierarchy, right-click and choose Create As > Ring Fence).
The Fiscal Regimes tool has been redesigned to let you more easily edit and understand how variables are related and used in calculations.
Visualize your Type Wells, Rollups, Common Termination Entities, Bulk Well Schedules and Ring Fences on the Map.
Make changes to the Economics Detail Report by deleting or adding columns and ratios. Format the report in Portrait or Landscape and add text boxes.
Enter Raw, Inlet or Sales composition and ratios for more accurate Alberta Royalty calculations. Process, surface and fuel losses are now multiplicative, and default entries for ratios, surface loss, heat value etc. are now made in the lower products grid.
Here’s an overview of what we released in version 6.2.
Most accurate auto-forecasts
Two-thirds of your go/no-go decision depends on your production profile. Auto-forecasting lets you decide in minutes – with pinpoint accuracy for both conventional and unconventional resources. In a recent comparison, a 35-year industry veteran took six hours to forecast 160 wells. Val Nav 6.2 did it in 60 seconds – with greater accuracy and no bias.
Multiple declines for best fit
The new decline workspace in Val Nav 6.2 lets you test multiple declines while clearly labeling your forecast. Only Val Nav has our new unconventional forecast method – being adopted by engineering schools, evaluation and finance experts across North America. Choose from Power Law Loss-Ratio, Duong, Stretched Exponential or our recommended Five Year Equation for greatest accuracy.
Analyze alternate plans & scenarios
Analyze multiple outlooks based on alternative economic and forecast conditions, all the while keeping reserves untouched. Report on them using expanded scenario functionality that now includes more options for calculations, and compare results sets against each other. Easily switch between scenarios in the reports tab or assign scenarios to run against sets of inputs by default.
Improve capital management
Import entity-level actual costs from AFE Navigator or other tools, map them by project and AFE type, and ensure you always know the status of your capital budget. At any stage, you can run reports on individual wells or groups of wells to re-evaluate your economics, understand variables and accurately forecast spending for the rest of the year.
Maintain data consistency
Prices, interests and operating costs are typically the same across reserves categories. Input this data just once per entity using Base Reserves Category and it flows to all categories. Easily change base data from within any reserves category and it flows back to base. Data can be migrated to work on existing databases, too.
Val Nav reporting helps companies meet regulatory requirements. Val Nav 6.2 has extremely robust fiscal regimes, allowing you to report with confidence no matter on which stock exchange your company is listed, or even if it is listed on more than one exchange in different countries.
Preserve data snapshots
Easily and quickly create an exact replica of your current data set at any time. Archive it for later analysis, or use the Comparison tab to compare it immediately to previous archives. Snapshots allow you to see how your current situation aligns with expectations, and helps you track and monitor budget changes.
Dare to compare
The new Comparison Tab in Val Nav 6.2 lets you compare apples to oranges – or almost anything. Compare between folders/wells, plans, archives, scenarios, reserves categories, or any of the above. Compare and report on three kinds of data: cash flow, costs, and production.
Ever wondered how your total production roll-up might change if one well were to be removed, or if your working interest changed on one or more wells? A custom number field allows you to input any variable to calculate unlimited factored roll-ups.