Hydrocarbon Accounting (Allocation)
When reservoir fluids from various wells are comingled in a production facility, determining the original source of the hydrocarbons is extremely important. Operators need to know whether the fluids from a given well are sold at fuel value or as more valuable liquid products. Accurately accounting for this is important to properly allocate proceeds to the respective royalty interests of each well.
- Components from a given well throughout the system
- Which components arrive at different points of sale
- The effect one well has on the production of another
- Case studies to find maximum value for all producers
- Report Individual Well Volumes in terms of Economic Value
- Tie in to online systems for automated monthly, daily, or even hourly allocation
- Properly evaluate the lost value of a temporarily shut in well
The Mixed Species feature of ProMax® 5.0 makes hydrocarbon accounting easy and straightforward while maintaining a high degree of compositional and thermodynamic integrity. With this feature,
no redundant components are required, compositions lists are short and simple, and no sacrifices are made to the fidelity of the model. It gives a truly elegant solution to what is otherwise an arduous task.