petrolook reserves
All the power and flexibility of aclaro’s petroLook application is available in a corporate reserves system.
PetroLook’s Reserves module allows you to compile your reserves data from multiple data sources, roll-up and calculate company reserves, reconcile differences, book changes, and generate internal and external reports. As a component of petroLook, the Reserves module makes full use of the application’s underlying architecture. This includes web-based navigation, versioning, a full security model, and comprehensive reporting and charting.
The petroLook Reserves module works with the systems that you already have in place.
Modeling your U.S. properties in ARIES*, your Canadian properties in Peep‡ or ValNav††, and your international properties in Excel†? Have your actual production data in yet another system?
No problem. Use the systems that make sense for your business, and then use petroLook to integrate/combine that data and perform your corporate reserves management.
Direct Technical Reserves Input
Use the technical reserves to capture reserves estimates from volumetric calculations, resulting from reservoir simulations, or model your volumetric reserves directly in the Reserves Module by entering your reservoir properties.
Flexible Reconciliation Options
PetroLook Reserves allows you to create the change record categories that you need to properly account for and track your reserves changes and to meet your internal and external reporting needs.
The Reserves module’s reconciliation interface makes it even easier to create, edit, or delete your change records to balance your reserves.
Balance your reserves with one or more change records per change record category, each change with its own comment field.
Change Record Approval Process
The Reserves module now contains a full reserves change approval process.
Use petroLook’s security to assign approval limits, based on your current reserves process, providing users with the ability to approve reserves changes to a certain volume. Companies are able to set up a full approval matrix to match their internal and externally mandated approval processes.
The system allows users with higher approval authority to review changes made in their area of responsibility and then approve or reject the changes. If approved, the changes move to the next higher level or to the person ultimately responsible for booking the changes. If the change is rejected, then the change moves back to the originator for revision.
Full Audit Trail
PetroLook Reserves captures all changes made to the reserves data, storing the user ID of the user making the change, the date and time of the change, which data was changed, and the value in the system before the change.
