Core Features of pForecast SaaS Solution
Uncertainty-centric Forecasting
In pForecast software, uncertainty is not added as a deviation to the deterministic run, but it is considered as an integral part of forecasting. pForecast quantifies the uncertainties by using Monte Carlo simulations which allow forecasts with low, expected, and high values to be created. In this way, pForecast provides the necessary basis for decision-making and risk management. For instance, the low value in the result is not only based on the provided low values, but it is a result of the entire variation of all the results from the Monte Carlo simulation.
Effortless Sharing and Seamless Collaboration
pForecast makes it easy to streamline forecasting across your organization by letting you quickly export and import complete assets and scenarios. With just a few clicks, teams can duplicate their work, share best-practice setups, and transfer entire forecasting projects between departments, partners, or environments — saving hours or even days of manual rebuilding.
Everything is packaged into a self-contained file that rebuilds your structure automatically on import — ensuring consistency, reducing errors, and accelerating collaboration.
Prepare to export for reporting to i.e RNB & PRMS
The pForecast software offers robust and highly customizable reporting functionality that enables users to export data in the formats required by their organization, including Petroleum Resources Management System (PRMS) and Norwegian Petroleum Directorate (NPD) standards. Furthermore, for a given field, a structure of Revised National Budget (RNB) profiles and projects can be defined. These profiles and projects are an essential aid for users to report data to the RNB in Norway each autumn, ensuring compliance with the necessary regulatory requirements.
Decline Curve Analysis
Unlock the full value of your production data with pForecast’s integrated Decline Curve Analysis (DCA) — designed for teams that need fast, consistent, and defensible forecasts. Whether you work in reservoir engineering, planning, or asset management, pForecast gives you a streamlined way to generate, compare, and update decline curves across wells and fields with minimal manual effort.
With automated parameter handling, flexible curve fitting, and seamless uncertainty modelling, pForecast transforms DCA from a siloed engineering task into a shared, transparent forecasting foundation for the entire team.
Modeling Assistance
After running a simulation, pForecast offers real-time feedback on the simulation’s progress, providing users with an indication of whether the simulation was completed successfully or not. In the event of an unsuccessful simulation, pForecast is designed to identify and diagnose many of the errors that may have occurred, thereby facilitating a prompt resolution. This feature ensures that users can quickly and efficiently resolve any issues that may arise during the simulation process, ultimately leading to a more streamlined and efficient workflow.
Effortless Planning and Smooth Update
It is easier to evaluate different planning scenarios using pForecast than with reservoir simulations alone. In pForecast, the switch from deterministic analysis to stochastic analysis is automatic! A great advantage is that when last-minute changes occur, neither additional nor manual adjustments are needed. In pForecast a heavy analysis from a reservoir simulation tool can be reused in a fraction of the time it would take to rerun the reservoir analysis itself.
Integration with 3rd party solutions
pForecast, with its cutting-edge capabilities, offers seamless integration with third-party software, enabling users to leverage its advanced forecasting features within their existing workflow. By connecting pForecast to various third-party applications, your business can unlock the full potential of their data and streamline their operations.
Currently, you may connect to CDF and PDM.
Deterministic scenarios
In the pForecast software, apart from conducting stochastic analysis, users have the additional capability to perform simulations deterministically, disregarding uncertainties. By incorporating these versatile capabilities, users can optimize their analysis, and make well-informed decisions that take into account both uncertainties and deterministic factors.
SaaS solution
Forecast is designed as a Software-as-a-Service (SaaS) solution, providing users with convenient access to its features and functionalities through compatible internet browsers such as Chrome, Edge, and more. With this cloud-based approach, Forecast eliminates the need for a dedicated desktop application, allowing users to leverage its capabilities whenever and wherever they have internet access.
Try pForecast
Ready to experience pForecast in your own workflow? We offer a free 1-month trial so you and your team can evaluate the full platform in practice. Get in touch, and we’ll set up access for you.