ShortTermForecastDeclines

This function returns short-term forecasts of oil and gas production declines for individual well APIs. It extends the functionality of the short-term forecast by projecting the “well-level” forecast up to ten years into the future from the current date.

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Syntax

=SMX.ShortTermForecastDeclines(Aggregated By, Operator, Region, Sub Region, County, State Code, Production Month, Start Date, End Date, First Production Month Start, First Production Month End, Api, Modeled)

Arguments

Parameter	Description	Example
aggregated_by	Aggregate data by a list of parameters.	"date"
Operator	Limit search by the name of the operator whose wells to retrieve.	"A WILLIAMS OIL"
Region	Limit search by the name of the region where the wells are located.	"west"
Subregion	Limit search by the name of the subregion where the wells are located.	"Haynesville - TX"
County	Limit search by county where the well is located.	"Winkler"
State Code	Limit search by the state code where the wells are located.	"CO"
Production Month	Limit search by the number of elapsed months from the date of well completion.	"2"
Start Date	Limit search to a start date [“YYYY-MM-DD”].	"2022-12-01"
End Date	Limit search to an end date [“YYYY-MM-DD”].	"2022-12-01"
first_production_month_start	Start of the date range for selecting wells that began producing in the specified month (Format: ‘YYYY-MM-01’).	"2023-11-01"
first_production_month_end	End of the date range for selecting wells that began producing in the specified month (Format: ‘YYYY-MM-01’).	"2023-03-01"
api	Well API numbers passed as strings.	"4200347857"
modeled	Indicates whether the production numbers are based on our forecast model (True) or from pipescrapes (False).	True, False

Data can be aggregated by: county, date, first_production_month, modeled, operator, production_month, region, state_code, sub_region.

Note

Performance considerations: This function may take some time to retrieve and organize large amounts of data. For best performance, it is recommended to limit the number of input parameters and retrieve only the data needed for analysis.

Note

No Data: Output data will return “#No Data” when input data is invalid or does not exist.

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Examples

1. Get short-term forecast declines for a specific date:

=SMX.ShorttermForecastDeclines(,,,,,,,"2021-5-1","2021-5-1")

2. Get short-term forecast declines for a specific region:

=SMX.ShortTermForecastDeclines(,,"GULF")

3. Get short-term forecast declines for a specific operator during a specific timeframe

=SMX.ShorttermForecastDeclines(,"CONOCOPHILLIPS","GULF",,,,,"05-01-2021","05-03-2023")

4. Get short-term forecast declines aggregated by region:

=SMX.ShortTermForecastDeclines("region")

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Output Parameters

Field	Type	Description	Example
api	integer	An API is a unique, permanent, numeric identifier assigned to each well drilled.	1701121257
county_name	string	County in the state where the well is located.	“BEAUREGARD”
date	string [“YYYY-MM-DD”]	Date selected for forecast (unsynced).	“2022-11-01”
first_production_month	string [“YYYY-MM-DD”]	Start of date range for selecting wells that started producing in the specific month. Format: Format: “YYYY-MM-01”	“2009-10-01”
forecast_run_date	string [“YYYY-MM-DD”]	Date of forecast generation (unsynced).	“2022-11-01”
gas_daily	float	Average rate of gas production expressed per day (in BCF/day).	23.842
gas_monthly	float	Amount of gas produced over one month (in MMCF, or 1 million cubic feet).	98801.0
modeled	boolean	Indicates whether the production numbers are from the forecast model (True) or from pipescrapes (False).	True, False
oil_daily	float	The amount of oil produced in a single day (in BBLS, or barrels).	112.9570761
oil_monthly	float	The amount of oil produced over one month (in BBLS, or barrels).	279.5
operator_name	string	Operator of the well.	“PIE OPERATING, LLC”
production_month	integer	The production month to retrieve completions for. Defaults to the latest month available if not specified.	496
region	string	Aggregation of multiple major producing basins.	“GULF”
state_ab	string	Abbreviation of the state.	“LA”
sub_region	string	Aggregation of several counties, typically representing a major producing basin.	“S LA”

Note

Unsynced data in the date column provides a date at the start of the month. However, the actual reported date is for the end of the month.

For example, if the reported date is “2022-1-10”, this means the data pertains to the month of January and was actually reported on “2022-01-31”.

This means that you should ideally interpret the reported date as representing the whole month, not just the specific date at the start of the month.

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Errors

Functions may return the following error messages:

Error	Description
#VALUE!	Input parameters are invalid or cannot be parsed.
#REF!	The function cannot retrieve data from the SynMaxax API due to a network or connectivity issue.
!!! EXCEPTION	Invalid input parameters. Make sure dates are enclosed in quotes. Check if the API key is valid. To know more about how to use an API key, please check the section on authentication.
#No Data	Input data is invalid or does not exist.

Note

You can also check the logs for more information on errors. You can access the logs by clicking on SynMax Energy on the Excel ribbon and then clicking on Logs.