New PROPHET XL Software Leverages Excel to Deliver Sophisticated, User Friendly Investment Analysis to Geologists and Petroleum Engineers from the Field to the Corporate Office.
HOUSTON, TX (January 17, 2011) Building on twenty-plus successful years of software deployment throughout the global oil and gas industry, ENSYTE Energy Software Int’l introduces PROPHET™ XL, an innovative tool that empowers virtually anyone to perform economic analysis on drilling investment opportunities.
Originally a partnership reporting program, PROPHET™ was well-received from the outset by companies of all sizes for reserve and financial position reporting. Its comprehensive capabilities included prospect economics, reserve valuation, acquisitions, capital budgeting, and planning primarily for upper level analysts. Now, PROPHET™ XL uniquely responds to the growing need for state-of-the-art sophistication with a simplicity focused on investment decision analysis for front line geologists and engineers.
For effective decision-making, PROPHET™ XL’s impact is significant: transferring economic analysis from the “economic experts” to the geologists and petroleum engineers responsible for generating the actual prospects. By embedding sophisticated analysis at the front-end of field development, the entire workflow is accelerated. For practical purposes, the driving force behind prior releases of PROPHET™ remain intact but, by utilizing Excel’s platform for data input/output and new programming, the previously complicated process of running an economics program and making investment analyses is eliminated. ENSYTE can also develop input and report templates for companies needing further customization.
As an experienced technology professional commented, “If you can use MS Excel, you can quickly use the new, user-friendly PROPHET™ XL.” Adding to the commercial appeal of the new PROPHET™ XL is the practicality that users who already have complex economic decision software solutions can continue using those programs, along with PROPHET™ XL, to gain additional benefits. The focal point is that, by empowering people at all levels throughout an organization, this new software enables companies as a whole make better analyses in prospect screening. Essentially, PROPHET™ XL is an ideal way for individual geologists and engineers, who are directly involved with drilling decisions, to communicate the economic benefits of prospects directly to investors and corporate decision makers.
ENSYTE Energy Software International (www.ensyte.com) provides performance-driven software packages and professional services for the energy and power industries.