Why settle for one, when you can get more?
If you haven’t taken a close look at Value Navigator recently, now’s the time. Our guiding principle while developing Val Nav 6.4 was that our customers deserve more. So that’s what we delivered. Not just more new features – Val Nav 6.4 has them - but more than that.
Val Nav 6.4 has some great new features, but it’s about more than that. It’s about more workflows that are based in sound engineering principles – like type wells instead of group wells. And it’s about across-the-board improvements that let you complete your work more quickly, more intuitively, and more confidently.
Val Nav 6.4 delivers more!
- More reporting capabilities for more insight
- More accuracy, more speed, more intuitive and user-friendly tools
- More productivity across every single task
- More confidence in the results generated and the decisions being made
- More stability and reliability than any other oil and gas forecasting, evaluation, economics and reserves management solution
For current users and those familiar with previous versions of Val Nav, here are few of the enhancements you can expect to see in Val Nav 6.4:
The Report Designer introduced in 6.3 has been expanded so you can create your own versions of Value Navigator reports. In our new user friendly drag and drop interface we have converted the Economics Summary, Economics Detail, Budget, and Wellhead/Plant Production Summary reports into templates that can be used to create new reports. Add new tables, graphs, and text areas, and create formulas to further customize your reports. Modify them for excel exports too.
Enhancements have been made to filtering, loading, and delta checking. If you were noticing databases slow to open, slow to filter, or economics running after every tiny project data change, then these improvements are for you. We are very interested to hear back whether our changes have made the improvements you need to get things done faster.
Reference dates can now be tied to Jurisdictions, allowing you to have a different reference date scenarios for your reserves than the reference date for your budget.
Bulk Apply Workspace Forecasts
If you have several named forecasts in your workspace you can now apply these in bulk to a reserve category on your wells, This feature can help you quickly accept or reject the forecasts you would like to go forward with, whether it be from your reserves team and or evaluator, your exploration team or your production team. If you haven’t yet tried out the new workspace, you really should.
Type Well Links Tab
If you have type wells linked to your wells there is a new tab that will allow you to see and filter to the wells that are linked, saving you time when updates need to be done.
Incentives, Revisions and Balances
Volume incentive balances are all managed by Value Navigator now, and a date for reversion balances has been implemented to manage the automatic calculation of remaining balances as of the input date. In combination with the ability to leave your economic calculation date in the past, rolling over to the new year will take almost no time at all.
Royalty & Severance Tax Updates
Val Nav 6.4 includes royalty updates for the provinces of British Columbia, Manitoba, and Saskatchewan and severance tax updates for some states.
Economic Limit is now calculated from the reference date rather than the economic calculation date. No more worry about the operating cost accidently left in the past…
Abandonment is no longer considered as part of the economic limit on Producing and Non-producing cases, only Undeveloped cases consider this in the determination of the limit.
On-time is now calculated by applying the forecasted on-time from the child wells rather than the historical on- time, giving you a truer picture of what you forecasted.
Importing XML with matched plan names will replace data in existing databases – Current year change records can now be imported into existing projects, this can only be done if the Last Posted Date in the import matches the target project. Share your data the way you expected!