Powersim's flagship product is pForecast, a cloud-based SaaS solution for production forecasting. It integrates input data from subsurface tools like ECLIPSE and ResX, facilitates standardized workflows across assets, and allows last-minute adjustments to save time before reporting deadlines.

pForecast's value proposition centers around digitalizing, simplifying, and standardizing production forecasting. It enables companies to semi-automate the yearly reporting process, perform incremental profile analyses at the project level, and conduct corporate roll-up analyses across assets. The platform. enables a full lifetime simulation of the production and injection forecast, including historical data, in keeping with the industry’s ever-increasing need for agility.

Key features include:

• Simplified reporting with customizable formats (PRMS, NPD standards)
• Incremental profiles for project-level production analysis
• Corporate roll-up for asset portfolio analysis
• Uncertainty mapping in drilling schedules with Gantt charts Monte Carlo simulations for low/mid/high case forecasts
• Recent additions: well dependency logic, customer database integration, well intervention modeling, facility-to-facility connections

Their legacy solution Powersim Studio is offered on a stand-alone app with a licensed agreement.

Their SaaS solution pForecast is delivered using cloud service

• Accessed from a browser
• Apply different levels of access control for your organization: admin, approver, contributor, reader and editor
• Annual, corporate-wide subscription based on pay as you go

• Open API development (in progress) for input/output, aiming for broad applicability vs. single-client customization
• Well dependency features to model sequential production interactions between wells
• Direct customer database integration for seamless data updates, e.g. Production Data Mart
• Well intervention modeling to quantify impact of maintenance activities
• Facility-to-facility connections to model interactions in multi-facility assets

• Corporate production reporting and forecasting
• Asset-level forecasting and planning optimization
• Quantifying impact of infill drilling programs
• Evaluating asset acquisition and divestiture opportunities
• Regulatory reporting like RNB in Norway