General Meeting: Economics & Planning - Utilizing Innovative Web-Based Technology to Add Efficiency and Accuracy to the Planning Process
Each year the annual business planning cycle launches a process that requires balancing the quality of production and economic projections against the time available to build the plan.
This year Swift Energy Company deployed innovative web-based software that improved the company’s forecasting capabilities while reducing the planning cycle times, which ultimately resulted in a better plan with more extensive analysis of different development options.
This presentation looks at the key areas of improvement in Swift’s business planning process. It highlights the benefits of the integration of economic and production forecasting for complex issues, such as production curtailment due to facility constrained fields, risk analysis for exploration and development drilling, and capital allocation between wells and facilities.
The benefits that were realized due to the use of a web-based solution in the areas of real-time collaboration and continuous technology support will be descibed. How these benefits translate to operations and the ongoing management of Swift’s assets will be presented.
Petroleum Club, 43 floor, EXXON Bldg
800 Bell Street
Houston , Texas 77002