Webinar: Improving Gas/NGL Plant Balancing and Allocations through Data-Driven Measurement
Time: Tuesday September 24, 2019 – 10:00 AM (MT), 11:00 AM (CT)
Speaker: Dr. Ian Burgess, Validere, CTO
Topic:
In this webinar, we shared ways to identify the source and nature of gas and NGL measurement errors. Attendees learned how to proactively catch errors impacting their plant balance and allocations.
Attendees learned:
- The difference between a bad measurement & a bad measurement program
- What causes a plant imbalance or improper allocation
- How to tell if an error originates from you or your counterparty
Why it’s important:
Production accounting is difficult to get right for producers and gatherers alike.
- Gatherers are challenged to correctly identify errors at pooled inlets with multiple measurement points. Issues include unbalanced plants, improper allocations, disputes with producers, and hours of wasted time for production accountants.
- Producers are challenged to identify whether error sources come from their measurement program or their downstream counterparties.
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Why it’s a bigger issue now:
Current market conditions have only amplified the impact of these errors. Heavier NGL components now account for an outsized portion of a well’s netback. These valuable components are usually a small component of total production but often account for the largest measurement errors.
Errors in compositional analysis compound with measurement errors in production accounting as gas and NGL volumes are allocated by component. Errors in analysis at one well can also lead to accounting errors at other wells.
Knowing how to proactively recognize and correct these measurement issues is crucial to ensuring a well-balanced plant and proper allocations.