Time: Tuesday September 24, 2019 – 10:00 AM (MT), 11:00 AM (CT)
Speaker: Dr. Ian Burgess, Validere, CTO
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.
Why it’s important:
Production accounting is difficult to get right for producers and gatherers alike.
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.