RoseRA Prospect Risk Assessment Software
RoseRA is the powerful prospect evaluation tool you’ve been looking for. Build resource and chance assessments, from simple single zone, to complex opportunities with multiple zones in multiple fault blocks, stratigraphic levels, and wells. R&A’s decades of training and consulting in uncertainty and risk analysis concepts are encoded within the RoseRA tool, making it the premier industry tool for modeling prospect resources and assessing chance of success.
Key advantages of RoseRA include:
- Intuitive guided workflow ensures Day-1 operations
- ‘Cards’ allows multiple zones to be assessed and aggregated in a single file
- Intermediate simulation displays and tables ensure inputs can be reality checked
- Results are clearly presented in both tabular outputs and customizable chart dashboards
- Intuitively model any chance dependencies between zones and communicate the impact on the chance of success and aggregate resources
- Customizable to implement corporate best practices and ensure consistency
Assess multiple zones and volumetric methods in a single prospect analysis
RoseRA provides instant feedback to users when inputting distributions, ensuring that the extreme ends (P99 and P01) can be reality checked. Competing tools make this cumbersome, resulting in the user skipping this crucial step which can lead to unrealistic and biased pre-drill estimates. As shown in the graphic below, different distributions can be selected for specific parameters, and correlations can be modeled between different inputs.
Multiple estimating methods for a single zone can be built and directly compared for improved quality control (for example, building rock volumes using Area vs Depth and quickly comparing these to workstation-derived probabilistic gross/net rock volumes). Log Probability, Tornado and Histogram charts support further investigation and QC of the inputs and intermediate simulated values. Turn off unwanted models with a single click.
RoseRA provides a comprehensive set of outputs including a dashboard of standard charts showing prospect assessment results, user defined charts, easy to read tabulated input and output distributions, full access to all the trial data with powerful filtering tools, and the ability to export all tables to external workbooks for use with data visualization and other analytical tools.
Bar-line chart showing probability of exceeding selected resource percentiles for two zones
Tornado charts aid the user in understanding which rock volume and yield parameters affect the resource uncertainty the most
Powerful and easy-to-use trial filtering enables users to examine trials contributing to Percentiles associated for any input or output for economics, planning, or further investigation.
Model Dependency to evaluate the effect on aggregate chance and resources
Chance dependency can be modeled between multiple zones either at the prospect or chance component level. The insightful charts and tabular outputs, clearly communicate to the user and management the geologic relationships between multiple zones and their effect on the aggregate chance of success and resources.
Pwell to optimize a drilling location off the crest
Use the Pwell functionality to investigate the impact on the potential resources and chance of success when drilling in a downdip location. Optimize the well location using the various tabular and chart outputs to increase the probability of commercial success for a discovery and to ensure that the potential updip attic resources, if the well is dry, would not tempt a company to drill a sidetrack well.
implement your company’s best practices
RoseRA includes a Corporate Configuration utility where a company can define its own metadata options to describe prospects, its own chance components, distributions by input parameter and guidance to users on correlations. This promotes consistent evaluations and the basis for prospects comparisons in PortfolioRA.
New in 2023
RoseRA focuses on Geological Carbon Storage (GCS, a synonym for CCS) by supporting the modeling of possible CO2 storage mass for six different reservoir types. The input parameters contributing to the simulated CO2 storage yield change for each of the injection reservoirs. When combined with the rock volume, RoseRA calculates the potential range of injected/sequestered CO2 mass. Tornado charts, tabular data outputs for all inputs/outputs, dashboards, and trial-level results are presented to the user to facilitate rapid QC and further interrogation.
RoseRA runs on a standard Windows PC and requires no third-party software. Files are stored in a standard industry format readable by web-browser extensions and other tools. File simulation results can be stored and retrieved as needed.
To enable Day-1 operation, and to be able to effectively communicate prospect evaluations, RoseRA embeds concepts taught in R&A’s Risk Analysis, Prospect Evaluation and Exploration Economics and Prospect Resources Assessment – Applied courses.
Ready to learn more?
Get in touch with us to see why RoseRA will become an essential element of your risk assessment forecasts. To see firsthand how easy it is to get sophisticated, reliable prospect characterization results, request a trial evaluation. Contact Phil Conway at email@example.com for a demo or to trial RoseRA. We know you’ll love it.