Project Inventory

Review Flow

1. Setup → 2. PDP → 3. Development assumptions → 4. Units → 5. Run Center → 6. Portfolio Results. Calibration is optional but improves EUR accuracy.

Setup

Acreage And Targets

Acreage

Upload a zipped shapefile or paste boundary GeoJSON. The app dissolves the acreage to one project boundary before running inventory.

Shapefile zip

WI column Ownership column

Aggregate by ownership and WI Boundary GeoJSON

Project

Project ID Scenario ID Project name Scenario name Default net-to-gross %

Gross Acres

Net Acres

Net-to-Gross

Load a shapefile to preview acreage.

Inventory Buildouts

Each buildout is a separate inventory scenario. Use a new buildout for a separate reservoir or bench.

Target intervals

Development Assumptions

Model And Economics

Editing Buildout

Active buildout Target intervals Replace target interval

Choose the buildout before adjusting spacing, EUR, price, LOE, tax, or capex inputs.

Spacing And Model

Azimuth mode Model policy EUR source Same-bench spacing ft Min lateral ft Max lateral ft Setback ft Discount rate % Well life years Spud-to-prod months

Peer spacing evidence

Observed Developed Spacing

Max developed spacing ft Min wells per unit

Load peer evidence to compare the current same-bench spacing against developed blocks in the project county and reservoir interval.

Scope	Bucket	Blocks	Measured wells	Median	Confidence
No spacing evidence loaded

County	Reservoir	Lease / Unit	Wells	Recent	P25/P50/P75	Conf.
No developed units loaded

Price Deck

Pulls oil/gas pricing, LOE, shrink, NGL, taxes saved by the PDP run.

Case ID NRI % to 100% WI Hurdle Oil $/bbl Oil diff basis Oil flat diff $/bbl (+ adds, - deducts) Oil realization % benchmark Hurdle Gas $/Mcf Gas diff basis Gas flat diff $/Mcf (+ adds, - deducts) Gas realization % benchmark Residue gas yield % NGL yield bbl/MMcf NGL price % oil GTP preset optional WI oil GTP $/bbl Gross gas GTP $/Mcf Residual gas GTP $/Mcf NGL GTP $/bbl

Taxes

Tax mode Fallback tax stateOptional for state default; required for project override. Severance tax % Ad Valorem % revenue Oil severance % revenue Oil severance $/bbl Gas severance % revenue Gas severance $/Mcf NGL severance % revenue NGL severance $/bbl

Choose a state to load default tax components, then switch to project_override to hard-code changes.

Opex

Fixed LOE $/mo Oil LOE $/bbl Gas LOE $/Mcf Water LOE $/bbl Estimated Water/BOE Run economics to estimate Water/BOE override Water/BOE multiplier

Capex

Capex base $ Gross capex = base + $/ft x candidate lateral length. Capex $/ft Capex stress % P&A cost $

Capex Preview

Open the popup to preview offset capex wells before applying model capex.

Inventory now runs from 3. Units (whole-asset single unit, or subdivided). This popout is for development assumptions only.

PDP

PDP Ownership And Forecast

PDP

PDP case PDP case name Valuation date Synced to the global valuation date. P&A cost $ Operated WI %Can exceed 100% to gross up for confidential wells missing from public production. Operated NRI % to 100% WI Non-op WI % Non-op NRI % to 100% WI

Operated operators Run project, then load operators.

Latest reported month — daily rates

Per-day rate	Operated	Non-op	Total

Anchored to the latest month where ≥80% of the trailing-6-month peak well count reported, to skip the partial-reporting tail (state reporters trickle wells in over weeks). WI = gross × working interest; NRI = WI × (NRI to 100% WI). Compare against a company's reported rate to sanity-check WI/NRI.

Economic assumptions — drives inventory cases when applied

Tune pricing, diffs, GTP, taxes, opex, shrink, and NGLs here before running PDP. When Apply as project economics is on, these values populate project_econ_assumptions so every inventory case can inherit them.

Apply as project economics (used by inventory cases)

Price Deck

PDP prices off the Setup → Valuation Price Deck (flat or custom monthly strip). Set basis differentials here; they apply on top of the Setup benchmark.

Oil diff basis Oil flat diff $/bbl Oil realization % benchmark Gas diff basis Gas flat diff $/Mcf Gas realization % benchmark Residue gas yield % NGL yield bbl/MMcf NGL price % oil

GTP

GTP preset optional WI oil GTP $/bbl Gross gas GTP $/Mcf Residual gas GTP $/Mcf NGL GTP $/bbl

Taxes

Tax mode Fallback tax stateOptional for state default; required for project override. Severance tax % (flat) Ad Valorem % revenue Oil severance % revenue Oil severance $/bbl Gas severance % revenue Gas severance $/Mcf NGL severance % revenue NGL severance $/bbl

Choose a state to load default tax components, then switch to project_override to hard-code changes.

Opex

Fixed LOE $/month Oil LOE $/bbl Gas LOE $/Mcf Water LOE $/bbl Discount rate %

Inventory cases will read these as their starting point. The inventory form has an Inherit from PDP button so users can override per case.

Timing

Development Schedule

Development Timing

Schedule case Schedule name Valuation month/date Synced globally. Cash flow before this month stays visible but is excluded from valuation PV. Hurdle discount rate % Minimum PV at hurdle $

Rig Lines

Running the same model across more than one rig over time? Point each rig at the same inventory source and give each its own start date — or use Duplicate on a row to drop in a follow-on rig that starts when this one finishes. They’ll sequence through the shared well pool.

Asset Valuation Workbench Project: ui_live_project Scenario: ui_live_project_base Valuation

Edit inputs

Current asset ui_live_project Boundary, ownership, PDP base, price deck, and portfolio scope.

Active buildout ui_live_project_base Target interval, spacing, EUR source, and inventory economics.

Workflow state Ready to review Setup -> PDP -> Development assumptions -> Units -> Run Center -> Portfolio Results.

Run contract

Reads Setup, PDP base, and active buildout assumptions.

Writes Outputs for the selected workflow step.

Overwrite scope Selected buildout only. Sibling buildouts are not touched.

Buildout tabs Switch reservoir or bench case

Overview

Project Readiness And Portfolio Value

Use this as the front door: confirm the active case, see what has run, and jump to the next useful action.

AcreageWaiting for setup

InventoryNot run

PDPNot run

DevelopmentNot scheduled

Portfolio Summary

All inventory cases

Every tile below sums across every inventory case under this project. PDP is counted once across cases.

Gross Acres

Net Acres

Accepted

PV10+ Net

PDP PV-10

Development PV-10

Combined PV-10

Combined FCF

Active Case

ui_live_project / ui_live_project_base

External EUR v1 is the active main case. Run inventory first, then PDP and development schedule for combined economics.

The memo and shapefiles cover the whole project (every inventory case + PDP), not just the active case shown above. Acreage exports the uploaded boundary + per-tract ownership layers; wells exports landed laterals across all inventory cases.

Edit project configuration

PDP holds the project-wide economic defaults (pricing, diffs, taxes, GTP, opex). Inventory cases inherit from PDP via the Inherit from PDP button on the inventory price-deck section.

Valuation

Present value across a range of discount rates (not strip pricing — the run's price deck is unchanged). Discount PDP and undeveloped locations at different rates; undeveloped carries more risk. Combined applies the PDP rate to PDP and the undeveloped rate to development. $ / Net Acre is combined PV ÷ net acres; $ / Flowing BOE/d is PDP PV ÷ current net flowing BOE/d — both shown at each discount rate.

PDP rate % Undeveloped / Development rate %

Combined PV

Discount rate	PDP PV	Development PV	Combined PV (uniform)	$ / Net Acre	$ / Flowing BOE/d

Location Risk Weighting

Undeveloped inventory volumes risked by distance to the nearest existing producer, then PV re-derived (revenue, severance tax, and variable LOE scale with the risk factor; fixed LOE and capex stay committed, so PV erodes faster than the headline weight). Locations that no longer pencil under the haircut are high-graded out (floored at $0). Tiers describe well spacing relative to control — they are not reserve classifications.

Unrisked Development PV here is the sum of per-candidate PV-10 (each well discounted from its own assumed spud) and so will differ slightly from Development PV-10 on the Portfolio Summary, which discounts the timed rig schedule's calendar cashflow from the valuation date. The gap is the rig-schedule deferral impact on PV.

Unrisked Development PV

Risk-Weighted PV-10

Risk-Weighted PV-20

PV Retained

Tier (distance to nearest producer)	Weight	Locations	Unrisked PV	Risk-Weighted PV-10	Risk-Weighted PV-20

Setup

Project Configuration

Start with acreage, define each inventory model, and lock the model-level economic assumptions before running inventory or PDP.

Active inventory model

Acreage And Inventory Models

Gross Acres

Net Acres

Net-to-Gross

Targets

BAKKEN

Use one buildout per reservoir or bench. Buildout-level economics below travel with the active inventory model.

Buildout Economics Matrix

Inventory model	Targets	Spacing	Capex	Shrink / NGL	IRR Cutoff	Net Economic Wells
No inventory buildouts configured

Inventory Run Summary

Gross Possible

Net Possible

Gross Economic

Net Economic

Avg Capex

Avg Perf Interval

Run inventory to summarize possible and economic net locations for the active inventory model.

Valuation Price Deck

Deck mode Valuation Oil $/bbl Valuation Gas $/Mcf Paste price deck

This is the authoritative valuation price for PDP and the development cash flows. Flat deck uses the Valuation Oil/Gas inputs above; Custom monthly deck uses the pasted rows. (The inventory Hurdle price is a separate screening test.)

Date	Oil $/bbl	Gas $/Mcf
No custom deck previewed

PDP

Producing Wells (PDP)

Run the producing base first — it authors the price deck, LOE, tax, and capex economics the inventory buildout inherits. Set ownership, valuation date, and P&A in the PDP inputs (they open automatically), then Run PDP.

PDP authors the shared economics, so run it before Development Assumptions and Units. The PDP inputs and the Run PDP button are in the inputs panel.

Development Assumptions

Model And Economics

Keep the active EUR source, spacing, price deck, LOE, tax, and capex assumptions visible before running the case.

EUR Source

External EUR v1

Oil Price

Gas Price

Fixed LOE

Capex $/ft

Discount Rate

Run Center

Guided Run Sequence

Run the model in the order the outputs depend on: PDP first (it authors the shared economics), then define the inventory model, run units (whole-asset or subdivided), recompute economics, schedule development, and review the portfolio.

1. Run PDPBuilds the PDP well set, volumes, and economics from existing forecasts. Authors the price deck, LOE, tax, and capex assumptions the inventory buildout inherits.Ready

2. Review modelChoose the target interval, spacing, EUR source, and economic assumptions for the candidate buildout. Inherits the PDP run's economics by default.Waiting

Calibrate (optional)Tune parent/child scaling and directional haircuts against offset control wells before placing geometry. Optional but recommended.Waiting

3. Define & run unitsRun inventory from Units — as a single whole-asset unit, or subdivided into smaller units for large assets. Generates candidate laterals, EUR, degradation, and economics.Waiting

4. Recompute EconomicsFast re-run of price, differential, LOE, and tax over the placed geometry. Iterate economics here without re-solving placement.Waiting

5. Run Development ScheduleTimes accepted development wells and creates monthly development cash flow.Waiting

6. Review PortfolioRead combined PDP plus development PV-10 and cash flow.Waiting

Run Center

Current run contract

PDP can reuse existing well forecasts after the project setup exists, and authors the economics the inventory buildout inherits. Run PDP first, then inventory, then development scheduling.

Overwrite scope: selected step

What it reads Setup, acreage, valuation date, PDP assumptions, and active buildout assumptions.

What it writes Outputs for the selected run step.

What can be overwritten Only outputs scoped to the selected step and active buildout unless explicitly noted.

Review the run contract before writing model state.

Gross Acres

Net Acres

PV10+ Gross

PV10+ Net

Accepted

Avg PV10 of PV10+ Wells

Avg Capex

Avg Perf Interval

Map

No spatial features to draw yet

Projected laterals accepted Projected laterals marginal Projected laterals rejected PDP producing PDP limited-producing Existing wells

-Boundary

-Acreage layers

-Projected laterals

-PDP wells

-Existing wells

Upload acreage or run a project to draw the visual layer.

Portfolio Results

PDP + Development Economics

Calibration and Audit are on the left nav.

Inventory results will appear in the KPI strip after a run. Raw run output is available in Audit.

Select a candidate to review offset evidence.

PDP Results

PDP Wells

Producing

Non-producing

Operated

PDP Gross Remaining BOE

PDP Net Remaining BOE

PDP Gross EUR BOE

PDP Net EUR BOE

PDP PV-10

PDP FCF

PDP Monthly Production

Actual Gross BOE Forecast Gross BOE

Month	Actual Gross BOE	Forecast Gross BOE	Actual Oil	Actual Gas	Forecast Oil	Forecast Gas
No monthly PDP rollup loaded

PDP Monthly Cashflow

Net Revenue Costs (LOE + Tax + GTP) FCF

Run PDP to see monthly net revenue, costs, and free cash flow. Use this view to validate opex before running inventory.

PDP Monthly Economics

Month	Wells	Gross BOE	Revenue	Net Revenue	LOE	Tax	GTP	P&A	FCF	Disc. FCF
No PDP economics loaded

API	Lease	Well #	Operator	Status	Owner	WI/NRI	Last Prod	Gross Rem.	Net Rem.	Gross EUR	Forecast	Tax
No PDP inventory loaded

Development Timing Results

Run project economics, then run a development schedule.

Year	Gross	Net	Timed Hurdle PV	Capex Net
No schedule loaded

Rank	Candidate	Buildout	Rig	Online	Reservoir	Net wells	Single PV-10	Timed Hurdle PV	Capex Net
No scheduled wells

Development Wedge Monthly Detail

Water/BOE evidence will appear after running economics and a development schedule.

Month	New Gross	New Net	Producing Gross	Producing Net	Cum. Gross	Cum. Net	Oil	Gas	NGL	Water	Revenue	LOE	Tax	GTP	Net CAPEX	FCF	Disc. FCF	Cum. FCF
No development wedge calendar cash flow

Calendar Cash Flow

Combined Portfolio Cash Flow

View

Run PDP and development schedule to see combined PDP plus development PV-10 and cash flow.

Month
Run PDP and development schedule for combined cash flow

Calibration Lab

Run calibration after loading a project boundary and target intervals.

What is this? Calibration backtests wells inside your acreage that have already produced enough to know their real EUR. It runs the same prediction the model would have made before they were drilled, compares predicted vs. actual, and lets you tune four risk knobs until predictions match reality.
Goal: minimize Tuned WAPE (overall error) while keeping Tuned Bias near zero. Run inventory after calibration so the proposed wells use the tuned weights.

Backtest scope

Start after developed % Min producing months Analog radius miles

Defines which producing wells qualify as "truth" samples for the backtest. Wider scope = more samples but more variance; tighter scope = fewer but cleaner samples.

Risk tuning — how much to derate EUR for each risk factor

Parent penalty scale 1.00x

Higher = more penalty for wells next to existing parents. 0 disables the effect.

Control penalty scale 1.00x

Higher = bigger haircut for wells with few analogs nearby (edges, sparse blocks).

Far directional haircut 15%

EUR cut applied when the best analog is far along the lateral direction.

Lateral degradation / mile 0%

Per-mile EUR haircut for laterals longer than their analog. 0 = ignore lateral length differences.

Holdouts more = better

Base WAPE your starting point

Tuned WAPE lower is better, < 25%

Tuned Bias near zero is good

Year	Holdouts	Base WAPE	Tuned WAPE	Tuned Bias	Avg Parent	Avg Control
No calibration loaded

Control Category	Boundedness	Dominant Dir	Holdouts	Base WAPE	Tuned WAPE	Tuned Bias
No calibration categories

API	First Prod	Reservoir	Actual EUR	Base EUR	Tuned EUR	APE	Parent %	Control %	Lateral %	Boundedness	Parent Band
No calibration detail

EUR Source Comparison

Run or load inventory sticks to compare current fitted EUR against the external EUR source.

Rank	Candidate	Status	Current EUR	External EUR	Ext / Current	Delta %	Analogs	Comparable
No EUR source comparison loaded

No run yet.

Portfolio

Composed Sum-of-Parts

Pull in several saved views (they may span projects), consolidate the PDP base, bring in each scenario and rig line, adjust the price case and per-member opex/capex stresses, revise the rig lines, then run. Saved as its own Portfolio — separate from saved views. The severance/ad-valorem tax step is reused on every recompute. (Volume stress is reserved for a later version.)

Portfolio settings

Name Note Valuation date

Oil price $/bbl Gas price $/mcf

Hurdle discount % Visibility

No portfolio loaded.

Members

Add saved views

Combined result

PDP base PV-10

Development wedge PV-10

Combined PV-10

Combined FCF (undisc.)

Months

Month	PDP FCF	Dev FCF	Combined FCF	Combined Disc. FCF

Units

Per-Unit Decomposition

Inventory runs here. Use a single unit (the whole asset) for small or medium assets, or subdivide a large asset into bounded units so each runs fast — no timeout, no lock contention. The current Project ID is the asset.

Inventory model to run (buildout) Both modes below run into this buildout — e.g. switch between a Marcellus and a Utica inventory model. Create models on Setup.

Run inventory

Asset: —

Runs into the inventory model selected above. Entire asset runs one pass over the whole boundary. Subdivide tiles a large asset into bounded units, runs each, then automatically merges the sticks back into the model — use it when a whole-asset run would otherwise time out. Either way you click Run Inventory once.

Run scope

Generate greenfield inventory Run salvage pass (skip on large projects) Run economics

Units

Total acres

Progress

Pick a model and scope, then Run Inventory.

Salvage re-evaluates rejected candidates with relaxed spacing — useful on small areas (<100k net acres) but slow (20+ min) on large ones. Recompute economics on existing geometry from the Run Center.

Units

#	Unit	Acres	Candidates	Status

Sign in to Inventory

Asset Valuation Workbench Beta

Observed Developed Spacing

Project Readiness And Portfolio Value

Portfolio Summary

Valuation

Location Risk Weighting

Project Configuration

Acreage And Inventory Models

Buildout Economics Matrix

Inventory Run Summary

Valuation Price Deck

Producing Wells (PDP)

Model And Economics

Guided Run Sequence

Map

PDP + Development Economics

PDP Results

PDP Monthly Production

PDP Monthly Cashflow

PDP Monthly Economics

Development Timing Results

Development Wedge Monthly Detail

Calendar Cash Flow

Combined Portfolio Cash Flow

Calibration Lab

EUR Source Comparison

Composed Sum-of-Parts

Portfolio settings

Members

Add saved views

Combined result

Per-Unit Decomposition

Run inventory

Units